Wolff Companies announced the acquisition of an additional 43 acres of land fronting U.S. 290 outside Houston. The property, located at the northeast corner of the James R. Muse Parkway and U.S. 290, just west of the company’s under-construction mixed-use development, Beacon Hill, is situated in the city of Waller, Texas’ ETJ. Together, the 521 acres in the original Beacon Hill development and the additional 43-acre acquisition will create a 564-acre master planned environment in the rapidly growing region.
“The excellent location at the four-way interchange on U.S. 290 and James R. Muse Parkway, as well as proximity to Beacon Hill and the resulting easy access to utilities make the property very attractive and allow for a variety of potential uses, including retail, light industrial and flex space,” said David S. Wolff, chairman and president of Wolff Companies. “We see the property as a natural extension of our Beacon Hill project.”
Beacon Hill originally comprised 521 acres fronting the north side of U.S. 290, between FM 362 and James R. Muse Parkway. With almost 4,200 feet of frontage on U.S. 290, the development will feature a business park on the 251 acres abutting the freeway with uses ranging from light industrial and distribution to office, multifamily and retail, all supported by utilities and services from the City of Waller.
The property is shovel-ready, with storm water detention and drainage, trunk water lines, trunk sanitary sewer and a lift station as well as electrical lines and residential streets already in place, representing an $8 million investment in the property to date.