Austin developer lands construction financing for HEB-anchored mixed-use project in Kingwood

Austin-based Stratus Properties Inc. (Nasdaq: STRS) plans to begin construction on its first Houston-area project this month now that construction financing is lined up.

The developer said in a press release this week that subsidiary Stratus Kingwood Place LP entered into a construction loan agreement with Dallas-based Comerica Bank for about $32.9 million. That will cover nearly 70 percent of the $48 million Kingwood Place, a mixed-use project anchored by an H-E-B grocery store. Stratus and privateā€¦