Tannos III among development highlights

In Friendswood by Reporter NewsLeave a Comment

By NICOLE JONES

The four-story development known as Tannos III in Friendswood will house up to 200 employees, Friendswood Economic Development Committee Chairman Skip Evans announced last week.

Evans on Aug. 5 provided an update to city council, detailing the businesses receiving municipal grants.

The Tannos III mixed use project is expected to be finished by the end of the year, Evans says.

The $10 million, 63,400 square-foot building at 505 S. Parkwood will boost businesses downtown, he said.

“What this is doing is providing a lot of the restaurants that are opening up downtown with people there during the day, that’s always been a big problem is having people there during the day to provide business,” he said.

Friendswood-based Tannos Construction and Development LLC last spring held a groundbreaking on the building, which was touted as the city’s first mixed use development and its largest office space. According to the company, more than half of the building has been pre-leased.

The Economic Development Committee had 10 meetings in 2018 and six so far this year. Since 2018, about $347,000 in grants have been awarded to new businesses.

“(This) has created $34 million in taxable value and about 220,000 (square feet) of office space and approximately 500 jobs for the city,” he said.

New projects incentivized by the committee over the past year included the Tannos II development on S. Friendswood Drive, Rancho Mexican Restaurant on W. Parkwood Avenue and Virgata Commons, now under construction on S. Friendswood Drive.

“Some of the tenants are going to be a fitness center, Mod Pizza, Jersey Mike’s sandwiches as well as a few others,” Evans said.

The committee also visits existing businesses to gain feedback and learn how they can best be supported, Evans said. These will continue going forward, along with more grants and reviewing policies and goals of the city and their impact on economic development.

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