Magnolia Place receives an economic boost with city approval of a development, including possible plans for a 100,000-square-foot Home Depot.<\/p>\n
HOUSTON \u2014 A mixed-use project in Magnolia just got a big boost after the city approved an economic development agreement for 28 acres with its developer.<\/p>\n
The Chapter 380 agreement for Magnolia Place, which the Magnolia City Council approved on Sept. 9 and has been signed by both parties, also includes the construction of a building that will be at least 100,000 square feet for a Home Depot<\/a> store. However, Houston-based developer BCS Capital Group said the deal with the Atlanta-based home improvement giant has not been secured yet.<\/p>\n A spokesperson for The Home Depot Inc. (NYSE: HD) said in an email that the company has “nothing to share on these plans at this point.”<\/p>\n BCS Capital Group completed the acquisition of 53 acres for the mixed-use project from Austin-based Stratus Properties Inc. (Nasdaq: STRS) last year.<\/p>\n Continue reading this story on the\u00a0<\/strong>Houston Business Journal’s website<\/strong><\/a>.\u00a0 \u00a0<\/strong><\/p>\n This story came to us through our partnership with the Houston Business Journal. Keep up with the\u00a0<\/strong>latest Houston business headlines here<\/strong><\/a>.<\/p>\n