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Growth opportunities in Bryan-College Station
By Trevor | May 12, 2008
April 3, 2008
College Station Economic Development Director David Gwin said Harvey Road, the University Drive corridor, Rock Prairie Road, William D. Fitch Parkway and Texas Avenue are the city’s choice spots for commercial development. A culmination of high traffic counts on Harvey Road, University Drive and Texas Avenue, and demographics on the south end of the city are both strong drivers for those areas. The Brazos County Appraisal District listed a total current value of nearly $500,000 for 925 acres of commercial property located at prime intersections along those corridors. Bryan Economic Development Director Dennis Goehring, likewise, listed Briarcrest Drive and Texas 6, Boonville Road, Texas 21, Texas 47 and downtown Bryan as areas with great development potential. The overall projects underway on the corridors, totaling about $800 million, boost their profile among developers. The appraisal district listed a total current value of $205 million for 1,120 acres of commercial property at high-traffic intersections, along a stretch of Texas 21 and across all of downtown Bryan. Houses dot the landscape along Texas 6 and Rock Prairie Road and William D. Fitch Parkway. Retail typically follows rooftops, but both intersections are still light on service-type development. Weingarten Realty Investors, which owns about 60 acres at the intersection of Rock Prairie Road and Texas 6, is moving forward with a final site plan and plat with the City of College Station, according to the company’s regional director, Eric Strauss. Dallas-based Corinth Property is working with users to do a commercial/retail project on the northeast corner of William D. Fitch and Texas 6. Corinth also had a hand in starting development at the nearby corner of Rock Prairie Road and Texas 6, drawing Kroger to property near Longmire Drive. The appraisal district listed values of $133.8 million for 138.7 acres of commercial property surrounding the Rock Prairie Road and Texas 6 intersection and $30.75 million for 327 acres surrounding the William D. Fitch and Texas 6 intersection. Bryan Towne Center continues to take shape at the intersection of Briarcrest and Texas 6, adding 400,000 sf of new shops. In addition to the 127,000-sf Target, the center’s anchor set to open in the summer, developer Lauth has filed construction projects for Rue 21, Rack Room Shoes and Maurice’s with the Texas Department of Licensing and Regulation. Boonville Town Center, just north of Briarcrest, situated on three acres near the intersection of Texas 6 and Boonville Road, will be anchored by a Best Western hotel. “[Texas] 47, in the next ten years is going to be the next sweet spot,” said Goehring. Goehring said the corridor has potential to attract high-tech medical facilities, correlated to the breadth and scope of work conducted at the Health Science Center facilities. The appraisal district listed property encompassing the Health Science Center site and surrounding area at $28.4 million for 386.2 acres. Goehring said while development of the stretch of Texas 21, between Texas 6 and Kurten, is still a ways out, the corridor is gaining momentum as infrastructure development continues to move east.
[Bryan-College Station Eagle]
Topics: College Station Real Estate |
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