Friendswood is poised to experience a significant transformation with the initiation of the Friendswood City Center project, a joint venture between Tannos Development Group and Wolfgramm Capital.
This ambitious project, valued at $750 million and spanning 106 acres, represents the largest mixed-use development in the history of Friendswood.
It will encompass a diverse array of commercial, retail, and residential areas.
The commencement of construction will focus on the development’s infrastructure, which will be financially supported through tax increment reinvestment zone (TIRZ) bonds and public improvement district bonds.
This phase follows the successful acquisition of TIRZ approval and a planned unit development designation, achieved through collaborative efforts with the City of Friendswood.
The project’s 54-acre district will host 150,000 square feet of retail space, 200,000 square feet dedicated to medical and office facilities, and a residential complex with 500 units. Additionally, plans include the construction of a 150-room boutique hotel featuring a restaurant and a convention center spanning 5,000 square feet.
Complementing the commercial development, the project also envisages the creation of a 52-acre public park, which will be gifted to the City of Friendswood. This park is designed to feature 4.2 miles of trails, a fishing lake with an accompanying pier, parking facilities, and public restrooms.
A crucial aspect of the infrastructure development is the extension of Blackhawk Boulevard, which will serve as a vital connection between FM 528 and West Bay Area Boulevard.
Louis Tannos, the owner and president of Tannos Development Group, revealed that all 12 commercial parcels within the development had been allocated to various developers. The specific identities of these developers have not been disclosed.
Tannos expressed the strategic decision to collaborate with other developers to expedite the project. This approach, he believes, will allow for simultaneous construction across the development, thereby enhancing the overall value and avoiding the complications associated with staggered development phases.
The property, encompassing 106 acres, was acquired from Clear Creek Community Church in February by Tannos and Wolfgramm, operating under Madison Development Corporation. The completion of this extensive project is anticipated within a three-year timeframe.
