The city of Sugar Land last week approved a $12.5 million reinvestment for a major town square renovation project.
The Sugar Land Development Corporation (SLDC) and the Sugar Land 4B Corporation (SL4B) approved the project, which consists of three, five-year performance agreements to support office revitalization within the town square.
The project involves two commercial buildings: Building B and Building H. The city’s plan for Building B is to add new communal office spaces while upgrading land and streetscapes along City Walk Boulevard. For Building H, the city plans to renovate the building’s entrance, lobby and signage, as well as update the garden area and add new furniture, fixtures and equipment. The third agreement in the project includes office tenant improvements, which will focus on property-wide upgrades.
The city established the 32.8-acre district in 2003, and it has become a hot spot for business and dining. Since 2018, it has received more than 27 million visitors. The district’s home to many major employers and has an overall occupancy rate of 73% across the spaces in the district. The city’s goal with the renovations is to attract more businesses, residents and visitors.
The city said that redevelopment is vital for long-term success, and that the agreements demonstrate its commitment to strategically investing in economic development.
Government Market News has reached out to the city of Sugar Land for more information about the project’s timeline, but has not yet received a response. This story may be updated as more information is released.
Image by Yinan Chen from Pixabay
