Developer Kevin Nguyen finalized a deal Tuesday to buy 4 acres on the east side of Bluebonnet Boulevard, south of Highland Road, for $1.81 million for a planned retail office development that will include a bank.
Nguyen, through his America Homeland LLC, paid $10.25 per square foot to Gary and Lanny Lewis.
The land, situated between south of Highland between Bayou Fountain and Burbank Drive, sits next to two other tracts owned by Nguyen on the southeast and southwest corners of Bluebonnet at Highland.
“I promised the neighborhood residents I would do a good quality project here, and that is what I am going to do,” Nguyen says.
Plans include putting a bank at the corner of Bluebonnet and Highland amid at least 15,000 square feet of retail space. Nguyen says it will be an upscale development similar to the Siegen Place Shopping Center on Siegen Lane where the Mattress Firm is located, but will have a Mediterranean flair with stucco towers and clay tile roofs.
“It will be very nice because we are trying to do something the area residents will like, and I made them that promise,” Nguyen says.
Nguyen says he hopes to begin construction in the next few months and have everything completed by the end of the year.
The land Nguyen purchased sits across Highland from Mo Vij’s planned campus-style office and commercial complex called @Highland.
The deal was brokered by Chris Shaheen at Saurage Rotenberg Commercial Real Estate.
—Tom Cook
