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April 24, 2008, 8:19AM
Growth continues around Lake Conroe
Waterpoint development offers mix of retail, condos
By BROOKE HATCHETT
Copyright 2008 Houston Chronicle
A new development on Lake Conroe is bringing shops, restaurants and resort-style condominiums to the waterside.
Waterpoint is a 14-acre mixed-use development at the intersection of Texas 105 and Tejas Boulevard between Conroe and Montgomery. It's slated to have 63 condominiums and 100,000 square feet of retail space, said Scott Gordon, principal of Gordon Partners, the Houston-based commercial real estate company heading up the retail aspect of the project.
Several retailers have already opened their doors to the public and construction crews broke ground on the condominiums in early April. The combination of lakeside property and steady traffic made the property the ideal locale for the project, Gordon said.
"(With) 14 acres total on the lake mixed with 40,000 cars driving by on (Texas) 105 everyday makes this the right piece of land to build a mixed-use development on," he said.
Gordon has been visiting the lake about 30 years and said the area is underserved when it comes to retailers and restaurants.
"Just being out at the lake and spending a lot of time there made it obvious that a development like this was needed," he said.
Tom Stinson, director of the Greater Conroe Economic Development Council, said he sees mixed-use projects like Waterpoint becoming more popular and welcomed the new development and the business it will bring to the area.
"Anytime you add additional activity like that it's always good," he said.
New businesses
So far, about 90 percent of the retail area has been leased or is the final stages of the deal, Gordon said. Starbucks and Nautic Share Fractional Boat Club opened their doors in early April and Marble Slab Creamery recently opened. The Laurel Tree Gift Shop is set to start business in May and CVS Pharmacy is opening in June, Gordon said.
Some of the restaurants rolling in will be Sams Boat, Double Dave's Pizzaworks, Lenny's Subs and a Smoothie Factory. Three waterfront restaurants that have yet to be announced are also on the agenda, he said.
The retail complex will also include a Snap Fitness Health Club, a Day Spa and Salon, Play N Trade Video Games, along with 20,000 square feet of second-story office space, Gordon said.
A 2,000-foot boardwalk will encircle the property and plazas will be built in front of restaurants to provide community gathering spots, he said. The water banks will feature about 70 public boat slips to give residents and visitors transportation options.
"People can boat to their favorite restaurant," Gordon said.
The idea is that though the community will provide proximity to shopping destinations like The Woodlands and Houston, residents won't have to travel far if they don't want to.
"A lot of the people have to drive 40 to 50 miles roundtrip to The Woodlands to go to their favorite restaurants and retail shops," Gordon said.
New housing
The waterfront condominium building under construction is set to be ready for tenants summer 2009, said Jim Winkler, president of Winkler and Associates Inc. The Montgomery-based real estate development company working on the residential side of the project has been involved in waterfront development at Lake Conroe for 15 years, he said.
The company's latest endeavor is the Beach Club Condominiums at Waterpoint. Units' sizes will range from one to four bedrooms and be priced between $200,000 and more than $1 million, he said. Winkler estimated to have models ready for viewing in about four months.
Residents will have access to an underground parking garage and boat slips earmarked for their use. To create a resort-style feel, the condominiums will feature two pools, a Zen garden, outdoor kitchens, poolside cabanas and an elevated sand beach around the pool, he said.
After the first condominium building is filled, developers will collect feedback from residents and start construction on two more condominium complexes, he said. He expects positive response when it comes to providing convenience to residents.
"The idea is if you can live there you can eat there, you can shop there without ever leaving the community," he said.
brooke.hatchett@chron.com
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