The Fort Worth-based company, which is currently directing a mixed-use redevelopment of North Point Mall in Alpharetta, Ga., has entered into an agreement to acquire 37 acres in Dunham Pointe, a 1,300-acre master-planned community in the fast-growing suburb of Cypress, Texas, 24 miles northwest of Houston.
Along with the retail development, Trademark will erect 500 multifamily residences at the site, with potential plans to add office and hospitality space.
“The population growth and affluence in Cypress, combined with the picturesque landscape and prime location of Dunham Pointe, make this an excellent opportunity for a mixed-use project,” said Jeff Johnson, Trademark’s managing director of development. “With every new market, we come as listeners first, and we look forward to engaging with the Cypress community to learn about the kinds of experiences they’d like to see here.”
Cypress, which is located along U.S. Highway 290, was a largely rural area until the Nineties, when several master-planned communities began rising there. Its population has grown by 10% since the 2010 Census to more than 135,000 and its average household income is $138,000.
"Dunham Pointe is a high-end residential and commercial community that will feature homes constructed by Houston’s top home builders, a Cypress Fairbanks School District campus and a diverse range of amenities,” said Cary Dunham, executive VP of Dunham Pointe Development.
Just last week, Trademark announced the appointment of respected retail real estate executive Kevin Kessinger as its president and COO. Kessinger handled transactional activities for 12 years at DDR and was an original member of the executive staff of ShopCore Properties, Blackstone’s owner-operator of power centers and neighborhood centers.