DEVELOPMENT
2023 ANNUAL COMMUNITY GUIDE
Township eyes hotels, redevelopment as economic priorities While The Woodlands Township o cials will not begin holding strategic planning sessions for 2023 until Jan. 27, board of directors Chair Ann Snyder said economic devel- opment is a topic that will see discussion this year. BY VANESSA HOLT
OTHER STORIES TO FOLLOW IN 2023
New medical o ces underway As of the fourth quarter of 2022, three new medical o ce buildings were under construction in The Woodlands area. Physicians Centre at Vision Park at 18354 I-45 S., Shenandoah, was completing a 50,400-square-foot facility, according to information from Caldwell Cos. Creekside Park Medical Plaza was under construction at 26424 Strake Drive, The Woodlands, with nearly 49,000 square feet of space, and leasing agent Garrett Neville said Magnolia Medical Specialists at 3786 FM 1488, Conroe, was 85% leased and near completion as of Jan. 4.
If The Woodlands Mall moves forward with a develop- ment project, it could result in an additional 80,000 square feet of new retail space, two hotels, a multilevel parking garage and related surface parking, according to informa- tion presented to The Woodlands Township in November. While that project does not have a stated timeline, Sny- der said the township will be looking to identify additional revenue sources as well as attracting more conventions and tourism to the township. “That will ultimately will boost our sales tax and hotel tax revenues, which creates our low property tax,” Snyder said. As of the most recent township nancial report available from December, the township’s 2022 sales tax revenue was 16.9% above the amount budgeted for the year. Hotel occupancy tax revenue was 17.9% above budgeted amounts for the year, according to township records. The township has a total of 14 hotels in its boundaries.
In late 2022, the previous township board of directors laid the groundwork for a potential deal with The Wood- lands Mall to expand its footprint. While further action on those potential plans was not imminent, Snyder said economic development will be a priority for the new board, and she noted the possibility of the board re-establishing the Economic Development Committee, which expired in 2021. Formed in 2013, the worked on projects including a cultural arts study to determine the feasibility of a facility such as a museum or cultural arts center. A memorandum of understanding with the Cynthia Woods Pavilion was paused in 2020 due to the COVID-19 pandemic. PLANNING ECONOMIC GROWTH
PHYSICIANS CENTRE AT VISION PARK
MAGNOLIA MEDICAL SPECIALISTS
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In the past decade, The Woodlands has considered a performing arts facility and mall expansion as economic development options.
2013 Ad hoc Economic Development Committee formed
2019 EDC meets to discuss arts complex and district
2022 Township, mall create economic development agreement
CREEKSIDE PARK MEDICAL PLAZA
Township approves arts study consultant 2016
Pandemic limits EDC activity 2020
Board considers future growth 2023
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SOURCE: THE WOODLANDS TOWNSHIP COMMUNITY IMPACT
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THE WOODLANDS EDITION • JANUARY 2023
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