clearman

Ivy District - Formerly Waterlight District

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Reading up about this project, I came across the proposed material to the City of Pearland in 2014. The information may be outdated along with renderings but my interested was piqued when I saw that a possible high-end retailer in one of the renderings looked to be Prada. It's far-fetched maybe but it would be nice to have another Prada store. Has anyone heard rumblings of other high-end retailers and restaurants? What about the proposed hotel?

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An updated proposal submitted to the city of Pearland October 2015:

 

American Modern Green (AMG) is a Pearland‐based, US subsidiary of global developer, Modern Land of China a publicly traded company based in China, which has developed over 10 million square feet of property internationally. AMG is best known for focusing on the development of large and comfortable communities. The subject property has gone through several issues of ownership, bankruptcy and market impacts since 2011 when they acquired the original 48.5 acre tract.  In 2015, an additional 10 acres was acquired.

One of the issues that have precluded this project from being initiated was the inability of AMG to secure financing for many of the intended uses of the land development program, outlined in the previous PD.  In the previous PD, the development program, which was prepared by an out of state consultant, did not fully recognize or address the

current/future market conditions or the ability to provide reasonably financeable infrastructure and amenities.

 

AMG admits their first acquisition in the US was not executed as they intended and as a result are submitting this revised PD that addresses a more sustainable and financeable development plan and program. In addition, AMG has retained the services of local land development and planning professionals with a proven track record of land

development projects in Pearland.

 

AMG’s vision for this property is much clearer and realistic today and has brought on a local development partner. SUEBA USA is headquartered in Houston and has been led by John Chiang and Klaus Keller over the last 30 years. SUEBA USA is responsible for developing over 40 residential communities and commercial projects since its inception.

 

One of the leading transformational projects was the annexation and ultimate development of MUD 355, Lakes of Parkway Project. This 345‐acre Houston in‐city MUD resulted in over $630MM in new real property values since 1995. SUEBA USA was a critical partner with Kickerillo Companies to create this mixed‐use community.

 

The partnership of AMG and SUEBA will insure the proposed PD for Ivy District will meet the vision of both the City and the developers. Therefore, the proposed PD amendment is meant to insure that mutual acceptable implementation plan can be constructed over the next ten (10) years.

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Right click to view the image larger.

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Edited by CrockpotandGravel

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BigFootsSocks    2791

I was hoping that future development for this would include the parcels north to it, so it's a little disappointing to see a big suburban retail project going in instead.

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I was hoping that future development for this would include the parcels north to it, so it's a little disappointing to see a big suburban retail project going in instead.

 

Me too. I think Pearland has enough of the proposed Gateway at Pearland type centers already. I was hoping for a center that would be more in line with the Ivy District and complement each other since the developers said it would be like CityCentre and by extension, Town and Country. This new commercial property is nothing like that. Disappointing.

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Urbannizer    31458

http://realtynewsreport.com/2016/05/03/beijing-developers-begin-construction-on-300-million-mixed-use-project-in-pearland/

 

HOUSTON – America Modern Green, a subsidiary of Beijing-based Modern Land China, has begun construction on a $300 million mixed-use project that will deliver office, retail, multifamily, seniors living and a hotel to Pearland, just south of Houston.

The 48-acre development, called the Ivy District, is expected to have a wide variety of commercial and residential building on-site upon completion in a few years. Ivy District will be located on Highway 288, eight miles south of the Texas Medical Center in southern Harris County.

The Ivy District is expected to include a 224-unit seniors community, 46 townhomes, more than 200,000 SF of Class A office, retail space, 335 units of rental apartments and 142 condominium units, according to the recently revised plan for the project. A hotel has been considered, but the developers will probably opt to build office space instead.

Land work for utilities and streets is underway and vertical construction is expected to begin in 2017.

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AREJAY    772

http://www.chron.com/neighborhood/pearland/news/article/What-s-latest-on-the-proposed-Ivy-District-in-10950585.php

 

Quote

Pearland Economic Development Corp. president Matt Buchanan said that the city is working with AMG, which is the Houston subsidiary of Modern Land of China, to ensure proper infrastructure is in place before further construction occurs.

"Obviously this area doesn't have a lot of infrastructure right now," Buchanan said of the acreage. "So, any time you undertake a project of this scale and magnitude, there's quite a bit of planning that needs to go into place to get it all put together."

Before construction can resume, the city and AMG need to create and complete zoning development agreements for needed off-site infrastructure. That would include roadways, drainage, parks and amenities in and around the site.

 

Quote

In a statement, John Chiang, a spokeman for Sueba USA, a developer partnering with AMG on the project, echoed that the project is going through the approval process with local governments.

"In the meantime there are lots of uncertainties in the real estate market and availability of financing," he said in a statement. "It is premature to make any announcement of the project."

 

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AREJAY    772

https://communityimpact.com/houston/pearland-friendswood/city-county/2017/03/17/ivy-district-pearland-gets-new-roads-pearland-city-council-approves-funding/

Can we get this moved to Going Up?

 

Quote

The Ivy District, a 50 acre mixed-use development at Beltway 8 and Hwy. 288, is slowly becoming a reality after Pearland City Council approved of road development projects in late February.

 

Quote

City Council approved an agreement with American Modern Green, the Ivy District developer, to extend South Spectrum Boulevard from Hwy. 288 to Kirby Drive as well as an extension of Promenade Shops Drive.

The Lower Kirby Pearland Management District and Pearland Municipal Management District No. 1, are responsible for the $5.76 million extension of South Spectrum Boulevard to Kirby. The developer will contribute $1 million to the Kirby extension. If the districts are unable to secure financing on their own, the city and the PEDC will pre-finance on behalf of the districts and be reimbursed when the districts’ tax bases are sufficient.

The extensions also include landscaping, lighting, drainage and other road infrastructure improvements. The projects are in the platting phase.

 

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