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Tomball-area developments In Tomball, Costco is planning for a June 2024 opening, Wooten said. Costco representatives declined to comment, citing company policy not to comment on future locations until they are ready to share details, usu- ally two to three months in advance. In November, Tomball City Council unanimously approved $6 million in economic incentives for the retailer to help o set infrastructure costs associ- ated with the construction of the site, which Costco projects will be over $20 million, according to the Nov. 7 agenda packet. Meanwhile, work on horizontal infrastructure, such as a detention basin and utility support, has been in the works for a development near Cypress Rosehill Road and the Grand Parkway, Richard Buxbaum, Radius Development founder and principal, said via email Jan. 6. Alongside a multifamily hous- ing complex, Chick- l-A and Wha- taburger are among the tenants. Buxbaum could not provide a time- line on the tenants. “I also sold a tract to a day care development group and am work- ing with a co ee user to build on our remaining pad along [the Grand Park- way],” Buxbaum said. “All of these uses will create synergy at the inter- section and provide services in the area that people have previously had to drive a distance to nd.” Texas-based grocer H E B also owns a 12.5-acre site northeast of the Grand Parkway and Cypress Rosehill Road, according to records from the Harris Central Appraisal District. To the east, construction is planned to begin in February on the Grand Parkway Town Center, said Andrew Alvis, NewQuest vice president and
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Building up in Tomball & Magnolia
Magnolia saw a 91% increase in its sales tax revenue between 2020-22—from $2.6 million to $4.9 million, according to data from the Texas comptroller of public accounts. Meanwhile, Tomball saw a 34% increase in its sales tax revenue between 2020-22—from $16 million to $21.5 million. “Our infrastructure investments lead to increased sales tax revenue, job creation and other economic development to support the new businesses and employees attracted to Tomball,” TEDC Assistant Director Ti ani Wooten said via email Dec. 30. Costco, set to come to the northeast corner of Hwy. 249 and Holderrieth Road in Tomball, projects $651 million in total estimated taxable sales over the rst six years it is open, according to its economic development agree- ment with the city and the TEDC. “Costco is an extremely exciting proj- ect that will bring major economic ben- e ts to our city,” Violette said. “It also provides a retail option that does not currently exist for residents of Tomball. We have received many requests to bring a store like Costco to Tomball, so it was a big win to nally close on the project.” In Magnolia, the developments located at FM 1488 and Spur 149 are projected to bring Montgomery County Emergency Services District No. 10 $30 million in sales tax revenue over the next 10 years, according to previous reporting. “New revenue generated from sales and property tax is paramount to [the] ESD’s ability to invest in resources necessary to serve and protect the growing population within our ser- vice area,” ESD 10 board President Larry Smith said in a statement.
Commercial development is booming in and around Tomball and Magnolia.
KEY:
Opening/tenants opening in 2023 Building/construction to continue in 2023
48 acres
60 acres
3
149
1488
1
2
MAGNOLIA
142 acres
N
SPUR 149
1
2
3
Heritage Green
Magnolia Place
Magnolia Village
Tenants include: • MOD Pizza • Wells Fargo • Starbucks • Great Clips • Jersey Mike’s
Tenants include: • Crust Pizza Co. • Taco Bell • Nails of America • McDonald’s • Sports Clips Haircuts
Tenants include: • Marco’s Pizza • Sakura Bistro • Texas Hair Team • Spring Rolling Cafe • Shipley’s Do-Nuts
HOLDERRIETH RD.
TOMBALL
249
55 acres
6
25.87 acres
4
65 acres
99
5
BOUDREAUX RD.
N
4
6
Cypress Rosehill
Grand Parkway Town Center
Costco
5
In the rst six years of business, Tomball’s Costco is expected to do in sales—$651 million of which is estimated to be taxable. $1.55 billion
Tenants include: • Chick- l-A • Whataburger • A day care • A co ee provider (pending)
Tenants include: • Gringo’s Mexican Kitchen
SOURCES: RADIUS DEVELOPMENT, STRATUS PROPERTIES, GULF COAST COMMERCIAL GROUP, SHADYSIDE LAND CO., NEWQUEST, CITY OF TOMBALL COMMUNITY IMPACT
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