Woodlands Township Plans for Two Hotels, Retail Spaces

The Woodlands Township board of directors has approved two items that could allow for a potential multimillion-dollar economic development project at The Woodlands Mall, including 80,000 square feet of new retail space, two hotels and a parking garage, all within an Economic Development Zone (EDZ).

The proposal includes an open-air, mixed-use commercial center, a full-service hotel with 200 or more rooms and convention space, a select-service hotel with 125 or more rooms; and a multilevel parking garage with at least 1,200 spots and related surface parking. The cost is estimated to be $100 million.

Phase 1 and Phase 2 call for building 40,000 square feet of retail space, a hotel and parking. As part of the agreement, 1% of sales tax and 1% of hotel occupancy tax revenues generated within the EDZ by the new project would be allocated to reimburse the mall for the cost of the parking garage, as well as “promotion and stimulation of business, commercial and economic activity In the township and the state.”