The Board of Directors of the East Montgomery County Improvement District is excited to announce the sale and delivery of just over $159 million in sales tax revenue bonds for the construction of the district’s 210,000 sq. ft. convention center and 813-space attached parking garage at the Valley Ranch Town Center in New Caney, TX.
Designed by Helman Hurley Charvat Peacock/Architects, Inc. (HHCP), the venue will feature a 55,000 sq. ft. ballroom/exhibit hall, nearly 20,000 sq. ft. of meeting space, and approximately 25,000 sq. ft. of pre-function and lobby space and outdoor courtyards. The facility is large enough to hold major corporate events, trade shows, local and regional youth sporting events, consumer shows, galas, wedding receptions, graduations, proms and other private events.
The plans also include space for a future full-service conference hotel to connect to the conference center and parking garage.
The Board selected SpawGlass as the Construction Manager at Risk (CMAR) on the project and local subcontractors whenever possible. Construction on the facility is expected to begin in January.
“We have worked tirelessly with the architects, engineers, research groups, and Valley Ranch developer, Signorelli Company, to ensure the center’s location and nearby future amenities will draw visitors and additional restaurants and retail, a layout that is top notch and implements fantastic ideas from other conference centers, and programming that meets the needs of regional groups seeking space for their events,” stated Frank McCrady, EMCID President and CEO. “So far, the Board has already approved an entertainment project, Lumos Social, that will be located near the convention center, and we are in talks with several higher-end restaurant brands that would not have initially had interest in our area but do now expressly because of proximity to a conference center. Our community will also get the benefit of having those brands to dine from.”
The Board began due diligence in 2021 studying various conference centers and engaging Hunden Strategic Partners for a market analysis and feasibility study. Hunden performed an economic, demographic and tourism analysis, as well as a market analysis for the demand for convention, event, and meeting space. Hunden determined the greater Houston area is lacking multi-use space that can accommodate groups that are unable to host events downtown due to rental rates and hotel prices and that demand is great for flat-floor events and court sports.
Hunden expects the project to generate over the next 30 years nearly $1.73 billion in net new spending within the boundaries of the district, $775 million in net new earnings, and more than 500 direct and indirect full-time equivalent jobs at stabilization. The project should generate about $35.1 million in sales, hotel, and venue taxes to the district.
