The Texas Heritage Marketplace, a significant $400 million mixed-use development anchored by Target, has officially broken ground in Katy, Texas. This ambitious project spans 750,000 square feet and will include a mix of retail outlets, restaurants, medical office spaces, self-storage units, and 550 apartment units across two complexes. The development is strategically located in Waller County, near the intersection of Interstate 10 and Texas Heritage Parkway.
Target has confirmed its plans to establish a 148,000-square-foot store at 29355 Katy Freeway within the project. While specific details and the grand opening date will be announced later, Target is positioned as one of the few large retailers expected to draw other prominent brands to Texas Heritage Marketplace. NewQuest Properties, the Houston-based developer behind the project, envisions the space as a bustling hub for retail, dining, and community activities.
Construction of infrastructure, including roads, water detention facilities, and utilities, commenced in December. Building construction is anticipated to begin by the third or fourth quarter of this year. The entire project, excluding the cost of Target’s store and individual business spaces, is estimated to reach at least $400 million.
The Texas Heritage Marketplace will feature a unique community-oriented greenspace, highlighted by a nearly 300-year-old live oak tree, one of the oldest to be preserved in the Houston region. This greenspace will serve as a focal point for the project, surrounded by uniquely designed buildings and community-focused restaurants with inviting patios.
NewQuest Properties has owned the development site for nearly a decade, awaiting sufficient population growth and the completion of Texas Heritage Parkway, which opened in 2021. The 6.4-mile thoroughfare connects I-10 to FM 1093, supporting the area’s growth trajectory.
Other developers, such as Hines, are also capitalizing on the anticipated growth along Texas Heritage Parkway. Hines plans a roadway extension to support its 3,000-acre master-planned community, potentially housing 7,000 homes. As growth in Fort Bend County spills into Waller County, the once-rural area is projected to double its population to approximately 120,000 within the next decade.
Elsewhere in Waller County, Starwood Land has announced plans for Sunterra Lakes, a 1,463-acre master-planned community with 4,000 homes. These developments reflect the burgeoning growth and transformation of the region, positioning the Texas Heritage Marketplace as a central player in this evolving landscape.
