A Friendswood-based developer is unveiling plans for a $1 billion project that could transform 200 acres of rural land in Magnolia into one of the largest mixed-use developments the small city has ever seen.
Tannos Development Group has spent the past two years laying the groundwork for a project called Magnolia Town Center, which could eventually encompass 1 million square feet of residential, multifamily, retail, office, medical and hospitality space.
“This is the first product of its kind in Magnolia… it’s the largest and most well-organized of its kind. It’s going to give the city something it’s never had before,” said Louis Tannos, president of Tannos Development…