CITY OF KATY, Texas (Covering Katy News) — Construction has begun on a centerpiece section of Texas Heritage Marketplace, a sprawling $400 million shopping and dining development in Katy that will be the largest retail project in Waller County.
Developer NewQuest broke ground on the multi-tenant phase of the project, which features a five-acre park called Heritage Grove surrounded by restaurants, fitness and spa businesses, and space for four mid-size retailers.
When complete, Texas Heritage Marketplace will cover 165 acres along Interstate 10 — the largest development site along that corridor in the Katy area.
"As it stands, Waller and surrounding rural counties have been unserved by major retailers," said Austin Alvis, president and chief development officer for Houston-based NewQuest. "Texas Heritage Marketplace will fill in that gap."
NewQuest expects to open roughly 101,000 square feet of retail space in early 2027, including locations for Academy Sports + Outdoors, Burlington, Spec's Fine Wines & Spirits and Ulta Beauty. An EoS Fitness location will also open at that time.
Three large anchor stores — Lowe's, Target and an unnamed wholesale club — are already under construction and are expected to begin opening in September. A Chase Bank, Whataburger and several other businesses are also in various stages of construction on the site.
The development team said more than 90% of the project has been leased in roughly 18 months.
Texas Heritage Marketplace sits at the entrance to several large master-planned communities familiar to Katy-area residents, including Jordan Ranch, Tamarron, Willow Creek Farms and Cross Creek Ranch, where the average home price is $522,248.
The site offers nearly 2,900 feet of frontage along Interstate 10 and about 2,200 feet along Texas Heritage Parkway. The Texas Department of Transportation is designing new I-10 on- and off-ramps to serve the development.
Analysts project the anchor stores alone will draw four million visitors per year, with the full development expected to attract more than nine million customers annually.
Plans also call for a medical office building of up to 70,000 square feet and 550 apartments.
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