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Tannos to Kick Off Ambitious Friendswood Development
Tannos Development is looking to break ground before the end of the month on a game-changing development in Friendswood, a town south and east of Houston with barely 40,000 people. The town has very few local amenities and attractions. This project would change that.
Located at 3801 FM 528 in Friendswood, the project is planned to include:
- The first hotel in Friendswood
- A 500-unit multifamily complex
- 150,000 square feet for retail, restaurant and entertainment spaces
- 200,000 square feet of medical and office buildings
- 225,000 square feet of mixed-use structures with 250-unit condominiums
- A 52-acre park, which will be owned by the city
Community Impact reports the developer says the project could infuse about $750 million worth of new property value into the city. In December, the city approved the creation of a tax increment reinvestment zone, or TIRZ, for the site. The TIRZ freezes the property tax value and will have revenue created from new value that goes toward development.
- ◦Development
