KATY, Texas – (By Michelle Leigh Smith) – LaCenterra, one of the Southwest’s most interesting outdoor malls, celebrates its tenth anniversary this month. And with its final phase under construction and a transformative expansion of the Westpark Tollway coming in nearby, the second decade of LaCenterra’s existence may be even stronger than the first.
The destination mixed-use development, now with more than 75 shops and restaurants, attracts a diverse audience, far more than Cincoans from the nearby 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 involvement. The future of LaCenterra will continue to develop as a mixed-use space to shop, dine, work, play, live, and unwind.”
When completed in 2018, LaCenterra will contain 410,000 SF at 23501 Cinco Ranch Boulevard, in the heart of Cinco Ranch near the Grand Parkway. Cinco Ranch, home to 12,000 families, is an 8,100-acre community developed by Newland Communities 32 miles west of downtown Houston.
Considering all various eateries, outlets and stores, LaCenterra is the seventh largest employer in the Katy area, “We employ 1,700 individuals and that will be growing with the new tenants, especially at the new eight-screen Alamo Draft House, a 37,000 SF anchor in Phase Four,” says Lindsay Kaye, Director of Marketing and Public Relations. “There’s an additional 7,500 SF we are preleasing as well as a parking structure. We will have four parking structures when Phase Four is complete, as well as surface parking.”
The name LaCenterra is derived from two Latin words –centrum, meaning the “center”, and terra, meaning “earth.” Vista wanted the name to reflect its primary vision for the center – to serve as an anchor-point or “town center” for the Katy-area community.
What else is new?
“We recently expanded with Frio’s Gourmet Pops popsicles in February,” says Lindsay Kaye, Director of Marketing and Public Relations. “This popsicle trend is no longer a micro-niche, and Frio’s focuses on fresh, delicious ingredients.”
“Peli Peli, a South African fusion restaurant, will open this spring,” Kaye says. “They just opened one in Memorial in Spring Valley proper. One of the partners, Thomas Nguyen, is actually from Katy, so we love the story that he came back to his roots.”
Other new tenants include the coming-soon Alamo Draft House and Snooze and an A.M. Eatery, a brunch concept that leased for 4,098 SF. David Birzon is CEO of Snooze. The Snooze lease was handled by Donna Keith, VP of Leasing for Vista Equities Group.
The development also includes the Grand at LaCenterra, a 217-unit multifamily developed by Martin Fein Interests.
“We have a mix of residents who like having access to everything in one place,” Kaye says. “We have a Trader Joe’s on site. It’s nice to have it all here. They can bike. We host several hundred events a year in our courtyard, Central Green.”
Vista, founded in 1985, is led by veteran Houston developer Woody Mann. He currently serves as Chairman of the Board of the Katy Economic Development Council.
Denver-based Amstar Group, a private equity group, is a partner in LaCenterra.
March 13, 2017 Realty News Report Copyright 2017