In August 2017, Stratus Properties of Austin finalized a 99-year ground lease on a 72-acre tract of land in College Station, Texas, for Jones Crossing, a new HEB Grocery Company, L.P. (HEB)-anchored, approximately $50 million, mixed-use project planned for approximately 258,000 square feet of commercial space.
The Jones Crossing project is expected to total approximately 258,000 square feet of commercial space, including a 106,000-square foot HEB grocery store, approximately 50,000 square feet of village-style retail space, a 40,000 square foot secondary anchor, 8 pad sites, up to 600 student-oriented multifamily units, and a 120-room select service hotel site.
Zoning has been approved by the City of College Station and site engineering work has been completed. Stratus expects to break ground on the project during third-quarter 2017, subject to completion of construction financing. The HEB store is presently expected to open in mid-2018.