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Ivy District - Formerly Waterlight District


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http://www.houstonchronicle.com/business/real-estate/article/New-Pearland-project-a-place-to-live-work-and-5689782.php

http://impactnews.com/houston-metro/pearland-friendswood/multiuse-district-to-further-develop-lower-kirby/  

I guess when the developers stated that the development would be "geared toward seniors" could've meant the graduating class.    "2013 Seniors forever, yall!  Woooo!"

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

 

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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.

 

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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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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?

 

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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.

 

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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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https://www.google.com/amp/s/therealdeal.com/miami/2019/01/12/developers-settle-sec-charges-over-eb-5-funding-for-houston-area-project/amp/

 

Foreign investors seeking U.S. green cards put nearly $50 million into what was supposed to be a massive mixed-use development in a suburb of Houston.



 

But the Securities and Exchange Commission charged the developers of the Houston-area project with diverting $20.5 million to other investments in real estate.

 

In December, without admitting or denying any wrongdoing, the developers settled the SEC charges and agreed to pay a penalty plus reimbursements to investors totaling $51.4 million. None of the investors has received a green card, and none of the developments they funded has advanced to construction.

 

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