$400 Million Texas Heritage Marketplace Breaks Ground in Katy, Anchored by Target
Construction has officially begun on the long-awaited Texas Heritage Marketplace, a $400 million mixed-use development in Waller County, Katy. Developed by Houston-based NewQuest Properties, the 165-acre project is set to transform the area with a blend of retail, dining, residential, and medical facilities.
Anchoring the development is a 149,000-square-foot Target store, with more anchor tenants and retail announcements expected soon. "After all these years of work, we couldn't be happier to kick off Texas Heritage Marketplace with a great anchor like Target," said Austin Alvis, president and chief development officer of NewQuest. "We are presently working with a variety of leading retailers and restaurateurs to procure the best possible mix for the project. We look forward to announcing additional anchors and tenants soon."
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What Texas Heritage Marketplace Will Offer
When completed, Texas Heritage Marketplace will feature:
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750,000 square feet of retail and dining options.
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550 apartments spread across two communities developed by NewQuest.
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Nearly 300,000 square feet of medical office space and self-storage facilities.
Strategically located along Interstate 10 and the newly completed Texas Heritage Parkway, the project is designed to serve a trade area with a growing population of nearly 147,000 residents and an average annual household income of $162,886.
Aerial rendering of Texas Heritage Marketplace in Katy, which will be anchored by Target. (Source: NewQuest Properties)Addressing Katy’s Explosive Growth
Katy’s population boom has been a key driver for the development. Residential growth in the area has surged by 56% since 2020, with 4,683 homes already built and a future housing inventory of 13,600 homes planned. The Texas Heritage Parkway, a 6.5-mile arterial road linking Interstate 10 to FM 1093, has played a vital role in making the area accessible and ready for large-scale development.
NewQuest invested nearly a decade in planning Texas Heritage Marketplace, waiting for the right conditions to align with the westward expansion of Katy and the completion of infrastructure like the Texas Heritage Parkway.
A Community-Centered Design
The development’s design prioritizes community connection and greenspace, featuring a walkable environment centered around a massive Heritage oak tree. Originally located in the path of the Texas Heritage Parkway, the tree was saved and relocated to the heart of the marketplace.
"We wanted to invest in preserving this Heritage oak and make the project a gathering space for the community," Alvis explained. "This project has been a major collaboration with the City of Katy, Waller County, and Texas Heritage Parkway Association, which was responsible for developing Texas Heritage Parkway. We thank them all for their support to get us to this point."
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A Hub for Retail, Dining, and Living
Texas Heritage Marketplace aims to be more than just a shopping destination. With its mix of retail, dining, residential, and medical facilities, it is poised to become a hub for commerce and community engagement in Katy. As more anchors and tenants are announced, the development will further solidify Katy’s status as one of the best cities to live in Texas.
For updates on Texas Heritage Marketplace and tenant announcements, stay tuned.
Tiffany Krenek has been on the My Neighborhood News team since August 2021. She is passionate about curating and sharing content that enriches the lives of our readers in a personal, meaningful way. A loving mother and wife, Tiffany and her family live in the West Houston/Cypress region.
