The potential of the Bridgeland master-planned community in Cypress was the primary reason Chevron purchased land for a corporate campus. The company bought 77 acres to develop a research and development campus. The property is owned by The Woodlands-based Howard Hughes Corp. (NYSE: HHH), the developer behind Bridgeland.

Bridgeland Central is a multiphase district spanning 925 acres within the larger 11,500-acre Bridgeland community. Construction of Village Green at Bridgeland Central recently kicked off the first phase of the mixed-use urban center. The 23-acre project will include a 100,000-square-foot H-E-B, the first grocery store within the community; a 49,000-square-foot, three-story mass timber office building; plus other retail and restaurants.

The Houston Business Journal reports, for Chevron, the new R&D campus marks the first major real estate deal in Houston since announcing last year that the company planned to sell its current headquarters in California and move additional employees to Houston, where it already has nearly 6,000 employees downtown and about 8,000 across the metro area.