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The Woodlands

https://www.bizjournals.com/houston/...expansion.html

The Woodlands Mall to undergo $100M expansion to add hotels, open-air retail section

By Florian Martin – Reporter, Houston Business Journal
Nov 21, 2022
Updated Nov 21, 2022, 2:35pm CST

The Woodlands Mall is poised to undergo a $100 million expansion, adding two hotels and additional retail space.

In a joint special meeting on Nov. 16, The Woodlands Township and the Economic Development Zone, in a 5-1 vote with one abstention, approved an agreement with The Woodlands Mall Associates LLC, which grants a portion of sales and hotel occupancy tax revenues from the expansion to the owner of the mall, Brookfield Properties, over a 30-year period.

The development area is a 15-acre site adjacent to Macy’s on the southwest corner of the mall, which is currently used as a parking lot.

The plan is to build an open-air, mixed-use commercial center with at least 80,000 square feet of retail space, a 200-room full-service hotel, a 125-room select-service hotel, a multilevel parking garage with at least 1,200 spots as well as surface parking and other improvements.

The agreement mentions Hyatt, Marriott and Hilton, among others, as examples for a full-service hotel and includes Holiday Inn, Doubletree and Comfort Inn as examples for a select-service hotel. It excludes establishments such as motels, hostels and bed-and-breakfasts.

The first phase includes 45,000 square feet of retail space and one or potentially both of the hotels.

The agreement requires Phase 1 to be completed by the end of 2028 and Phase 2 by the end of 2033.