4 Projects Set To Bolster League City
As the halfway point between Houston and Galveston, League City offers residents access to the Gulf Coast, a high-wage job market and a top-rated public education system. A growing number of people are relocating into the Bay Area, and it has spurred residential, healthcare and retail development.
The housing market is the stimulus to the densification of League City. Nearly 1,400 homes were sold between 2016 and 2018 with a median price of $276K, according to League City data. The median sale price in Houston is $233,900 and $249,000 in Dallas/Fort Worth.
Bisnow identified four projects pushing League City forward.
1. More Than $2B In Healthcare Expansion
Healthcare development is robust in League City.
New residents — many employed by the petrochemical or aerospace sector — are moving into the region in droves. League City was the 28th-fastest-growing U.S. city in 2017, according to WalletHub research.
The population growth is driving the demand for hospital expansion, specialty clinics and other healthcare facilities. A significant portion of the local market offers high-paying jobs with access to healthcare insurance, which also supports healthcare expansion.
UTMB Health League City, the largest medical park in the Bay Area outside of Galveston, has invested more than $2B into growth over the last few years, according to the Bay Area Houston Economic Partnership.
The system completed an $82M expansion by adding 142K SF to the hospital. It is underway on a $156M expansion to include a 700-space parking garage, 33K SF clinical building and an additional 123K SF facility.
A new MD Anderson facility on the League City's UTMB healthcare campus opened last year. The 197K SF cancer center was a $112M investment, Bay Area Houston said. The new facility is five times larger than the former one in Nassau Bay and almost doubles the number of beds.
League City's UTMB master campus plan totals 3.5M SF and includes medical office buildings, a comprehensive ambulatory medical center, education/research/office facilities, logistics facilities and a parking garage.
2. Sports Complex Converting Into Mixed-Use Epicenter
League City has big plans to transform a city-owned sports complex into an entertainment-driven mixed-use project.
Dubbed Epicenter League City, the 100-acre development proposed by the city would include a convention center complex, hotels, restaurants, shops, office space and amateur and professional sports facilities, according to Bay Area Houston.
City Council approved a pre-development agreement in October with a private developer, Epicenter of League City LLC, according to the city's website.
As a part of the public-private partnership, the firm will design and construct a new larger sports complex. The new facility replaces the Chester L. Davis Sportsplex and is being built across Interstate 45 from the former facility.
3. Retail Expansion Includes New Restaurants, Shops And Hotel
City officials say additional retail development is needed to meet the area's rapidly expanding population growth. The overall retail potential in the area tops nearly $2B, according to the city of League City, which estimates there are about $680M in opportunities left for developers to pursue.
To that end, new tenants and more retail expansion is coming along I-45 in League City.
Pinnacle Park, a 100-acre mixed-use town center development between League City Parkway and FM 646, has signed Cabela's and Memorial Hermann to anchor the development, per Bay Area Houston.
Phase 2 is in progress on 35 acres and includes Fairfield Inn and Suites, a 64K SF, 110-room hotel. Tenants in place include Abuelo's Mexican restaurant, Olympia Grill and Salata, while Sakura Japanese Sushi & Grill and Little Bella Mia Casual Italian Kitchen will open soon.
Phase 3 is designed to include 80K SF of pedestrian-friendly retail and 30K SF of office space along with water features and green areas throughout.
4. A 59-Acre Mixed-Use Waterfront Development
Riverbend at Clear Creek, a 59-acre mixed-use waterfront development in League City, may be the next hot project. The proposed plan includes retail, office, restaurants, a 90-slip marina, townhomes and a boutique hotel.
Greystar built the 203-unit Marina Bend at Clear Creek multifamily development in 2017. The developer has also selected a hotel franchise but has not announced it yet.
Let us know which emerging areas in Houston we should feature next. Send a note to Tierra at tierra.smith@bisnow.com.