Mixed-use projects play an increasingly vital role in both urban and suburban land development. With classic components of live-work-shop-play functionality, mixed-use projects typically are "vertical" - with greater density and a slimmer geographic footprint. Because of their flexibility, they are ideal solutions whether placed in open acreage or a tight urban infill space.
The Partnership has selected a prime location in Northeast Houston (Porter, TX) for mixed-use commercial development. The Partnership created Porter Development Partners, LLC, (the "Porter LLC") in April 2007 to acquire 42 acres at Highway 59 and FM 1314 for the purpose of developing the property into a commercial development called Porter Crossing. The property is fully entitled with all utilities to the site, and located in Montgomery County, Texas, outside the city limits of Houston but within its extra-territorial jurisdiction.
Porter Crossing is located along a crucial regional thoroughfare – Highway 59 – and near two burgeoning suburban developments, Valley Ranch and Kingwood. Housing starts and closings remain strong, promising thriving opportunities for Porter Crossing.
The Porter LLC believes the location and surrounding developments create highly-favorable conditions for Porter Crossing. Porter Crossing is across the freeway from the aforementioned Valley Ranch, a 1,374-acre master-planned community with 1,000,000 square feet of mixed-use development consisting of retail, entertainment and office space. The unique mix at Porter Crossing will be a complementary development, promoting utilization instead of competition.
Additionally, the planned roadway alignment of the Grand Parkway (Highway 99) will cross Highway 59 just north of Porter Crossing. Significant transportation thoroughfares not only drive traffic to the commercial portions of Porter Crossing, but provide townhouse residents with easy access to office locations in the Greater Houston Area.