(KP PLAZA PRELIMINARY RENDERING)
KP Plaza is
a mixed-use real estate development project located at the southeast corner of
the intersection of Beechnut Street and West Sam Houston Parkway (Beltway 8) in
Houston, Texas. The development of KP Plaza includes a luxury hotel, high-rise
office/residential condominium, retail shops, and a restaurant pad site, with a
total development area of over 427,000 square feet based on the current master
plan (still subject to modification).
Access and Visibility
The KP Plaza
project sits just at one of the few free exits on West Beltway 8 North (the
only free exit to Chinatown). The entrance to the highway is also just about
1,000 feet away. The Beechnut Street is one of the major thoroughfares in the
west of Houston. The traffic count for this site is estimated to be more than
500,000 cars per day. The site is also very close to other three major highways
besides the Beltway 8. The access to Southwest Freeway ( Highway 59) and West
Park Tollway is just 1-2 minutes drive from the site, Katy Freeway ( Interstate Highway10) is about
6-7 minutes drive from the site. The convenient transportation to most major
highways makes it an ideal site for commercial real estate development.
The project
will be visible from Beltway 8 to traffic travelling in either direction. The
site has 800 feet frontage exposed to the Beltway 8. There are two existing
entrances permitted by TXDOT on the feeder way of the Beltway 8. The site keeps
a frontage to Beechnut Street through a driveway at the back of the site. The
site has two other exits/entrances to Beechnut Street through easement
agreements with its neighbors¡¯ properties. All these entrances/exits access
provides the vehicle in-and-out privilege to and from the site, hence, the site
is considered as one of the best locations for commercial development in this
area from access and transportation perspective.
Commercial Surrounding
Within two
miles range of the site, resides a high density of retail business, including 13
bank branches, 8 ethnic super grocery stores, some national franchise stores,
such as Wal-mart, Home Depot, Walgreen, Sears, Marshalls, as well as numerous
small retailers and restaurants. To the north of the site, is the extension of
the famous Chinatown, and Houston's booming business district, Westchase
District. To the west of the site is Houston's International District. The
Harwin wholesale business area, also known as the import center of Houston, is
just three miles away from the site.
Land Development
CREDUS owns
the 13.9 acre vacant land including a 2.2 acre off-site land serving as the detention
pond. The detention pond and related drainage facilities was built and licensed
by the City of Houston in 2013. The land is all cleared, and all utilities are
at the site ready for development. Because the land is within the Houston's
city limit, there are no zoning restrictions on the site.
The highly
business-friendly atmosphere, the very convenient access to and from the site
to all major highways, and the excellent visibility, combined with the ample
supply of consumers and labor, make KP Plaza an attractive commercial real
estate development project with high potentiality of considerable profit margin
for both investors and the end users.
