KATY, Texas – LaCenterra, one of the Southwest’s most notable outdoor lifestyle centers, marks its tenth anniversary this month. With the final construction phase underway and a major widening of the nearby Westpark Tollway improving access, LaCenterra is well positioned for even stronger growth in its second decade.
Now home to more than 75 retailers and restaurants, LaCenterra draws a broad and diverse audience well beyond residents of the adjacent Cinco Ranch master-planned community.
“With the recent Westpark Tollway expansion, it is now easier than ever to live in Katy and we anticipate that the area will continue to thrive as it has over the previous decade,” says Woody Mann, president of Vista Equities Group. “Our goal with LaCenterra is to continue creating a sense of place by integrating destination dining, retail and amenities on-site with social, cultural and community activities. The future of LaCenterra will continue to develop as a mixed-use place to shop, dine, work, play, live, and unwind.”
When Phase Four is complete in 2018, LaCenterra will encompass approximately 410,000 square feet at 23501 Cinco Ranch Boulevard, within the heart of Cinco Ranch and just west of the Grand Parkway. Cinco Ranch, developed by Newland Communities, is an 8,100-acre neighborhood that houses roughly 12,000 families and sits about 32 miles west of downtown Houston.
LaCenterra has grown into a significant local employer. “Between our eateries, retail outlets and services, LaCenterra ranks among the region’s largest employers,” says Lindsay Kaye, Director of Marketing and Public Relations. “We employ about 1,700 people, a total that will rise with incoming tenants—most notably the new eight-screen Alamo Drafthouse, a 37,000-square-foot anchor in Phase Four. We’re also preleasing an additional 7,500 square feet and building more parking capacity. When Phase Four is finished, the property will feature four parking structures plus surface parking.”
The name LaCenterra blends two Latin roots—centrum, meaning “center,” and terra, meaning “earth.” Vista chose the name to reflect the development’s role as a central gathering place and town center for the Katy area.
Recent additions and upcoming openings add variety and new reasons to visit. “We recently welcomed Frio’s Gourmet Pops this February,” Kaye notes. “Artisanal popsicles have moved beyond a niche trend, and Frio’s focuses on fresh, flavorful ingredients.”
“Peli Peli, a South African fusion restaurant, is scheduled to open this spring,” Kaye adds. “They just opened a location in Memorial, and it’s meaningful that one partner, Thomas Nguyen, is originally from Katy—he’s returning to his roots.”
Other incoming tenants include the Alamo Drafthouse cinema and Snooze, an A.M. Eatery specializing in brunch; Snooze has leased 4,098 square feet. The Snooze lease was handled by Donna Keith, vice president of leasing for Vista Equities Group. The Alamo Drafthouse will serve as a major entertainment anchor and help broaden LaCenterra’s draw.
The development also includes The Grand at LaCenterra, a 217-unit multifamily community developed by Martin Fein Interests. Kaye describes the resident mix as people who appreciate having everyday amenities close by. “Residents enjoy access to everything in one place—there’s a Trader Joe’s on site, easy bike access, and we host several hundred events each year in our Central Green courtyard,” she says.
Vista Equities Group, founded in 1985 and led by longtime Houston developer Woody Mann, continues to guide LaCenterra’s vision. Mann also serves as chairman of the board for the Katy Economic Development Council. Denver-based Amstar Group participates as an equity partner in the LaCenterra project.
March 13, 2017 Realty News Report Copyright 2017