(Houston Business Journal) - Kingwood is primed for a large project that will include another medical facility as the Grand Parkway stretches its loop to connect the suburbs.
Conroe-based Signorelli Co. plans to develop a 1,400-acre, mixed-use medical district, called Valley Ranch, anchored by a new hospital in Kingwood. The new 250-bed acute care hospital, called the Valley Ranch Medical Center, will be located at the intersection of the Grand Parkway and Highway 59.
Serving a growing population base of more than 500,000 people within a 15-mile radius, the Valley Ranch Regional Medical District is projected to support more than 250 physicians and bring more than 1,000 jobs to the area, according to Signorelli’s website.
The portion of the Grand Parkway connecting Katy to Kingwood has been called a "game changer" by many real estate experts in Houston, who say to expect more development of all kinds in the communities surrounding the Parkway. The highway is intended to be a third outer loop around Houston, and, although it is only partly constructed, it has sparked multiple real estate development deals. The most recent stretch opened between U.S. 59 and FM 1464, connecting Katy to Sugar Land.
The mixed-use medical district will also include more than 300,000 square feet of medical office buildings, 250,000-square feet of grocery-anchored retail, hotels, restaurants and shops, as well as an estimated 400,000 square feet of multifamily construction, according to the developer’s website. Representatives from Signorelli did not return calls for comment.
HOK has been hired to design the project, and Birmingham-based Hoar Construction LLC is the general contractor. The cost of the project and timeframe were not given.
Recent U.S. Census Bureau estimates have ranked Montgomery County among the 30 fastest-growing counties in the nation. Kingwood is located in both Montgomery and Harris County.
A Kroger Marketplace — the Cincinnati-based grocer’s largest concept — opened a new location in Kingwood last fall.