Construction is under way on Texas Heritage Marketplace, a 165-acre mixed-use development in Katy, according to Community Impact.
The $400 million development by NewQuest Properties of Houston, which is slated for the southeast corner of Texas Heritage Parkway and Interstate 10 in Waller County, is expected to house more 1 million square feet of retail, restaurants, medical office space and self-storage. The anchor store will be an 148,000 sq. ft. Target, according to a Jan. 27 news release.
In addition, 550 apartments with two multifamily communities will be built, according to the release.
"After all these years of work, we couldn't be happier to kick off Texas Heritage Marketplace with a great anchor like Target," Austin Alvis, president and chief development officer for NewQuest, said in the release. "We are presently working with a variety of leading retailers and restaurateurs to procure the best possible mix for the project. We look forward to announcing additional anchors and tenants soon."
According to the release, the development will consist of 750,000 sq. ft. of retail and restaurant and 300,000 sq. ft. of medical office space and self-storage.
Work on site roads, utilities and water detention facilities began in December, according to the Houston Chronicle. Building construction could start in the second half of 2025.
The area will boast a walkable green space centered around a 300-year-old heritage oak tree relocated from the path of Texas Heritage Marketplace, according to the release.
The Texas Heritage Marketplace project was originally supposed to break ground in 2020 upon the completion of The Texas Heritage Parkway; that's a 6.4-mi. road from I-10 to Farm-to-Market 1093, Community Impact reported. The parkway opened in August 2021.
The Chronicle reported that tenants are starting to move into their spaces in the latter part of 2026, while the apartments would potentially open in 2028.
"We want to create walkable communities, even in the suburbs, where your coffee shop can get the benefit of on-site residents" but other non-residents visiting the project feel welcome to shop and hang out as well, NewQuest President Austin Alvis told the Chronicle.
