Developer Kevin Nguyen plans to begin infrastructure work in early August on his new retail and office complex at the intersection of Bluebonnet Boulevard and Highland Road.
The development—which Nguyen likens to Towne Center on Corporate Boulevard—will be called City Square and is located on 13 acres of undeveloped property the developer owns on both corners of the intersection on the south side of Highland Road.
Nguyen estimates the infrastructure work will take about 90 days to complete. He hopes to break ground on the project before the end of the year.
The project was first announced last November and the plan then was to break ground in early 2017. No specific problems have caused the delays, he says, adding “it just always takes longer to get these projects started than you think.”
Nguyen says he secured financing through a local bank and finalized loan documents in May.
City Square will be located on the southwest corner of the property, at least initially, and will feature a 15,000-square-foot high-end retail strip with space for boutiques and, perhaps, a restaurant. Eventually, the development will spread to the southeast corner as well.
Plans call for a total of 75,000 square feet of retail space and 25,000 square feet of office space.
Nguyen says he is negotiating with several retailers and has letters of intent from six potential tenants but has not finalized any leases yet.
Nguyen’s complex is the second major development at the busy intersection. Earlier this summer, General Infomatics CEO Mo Vij completed @Highland, a mixed-use office park on a nine-acre tract on the northwest corner of Bluebonnet and Highland.
—Stephanie Riegel
