Memorial Hermann Health System buys 40-acre Waller property for future expansion
Jeff Jeffrey, Houston Business Journal
Memorial Hermann Health System has scooped up a 40.3-acre property in the fast-growing Waller area, allowing for future expansion along U.S. Highway 290.
The property previously was part of Houston-based Wolff Cos.’ 587-acre Beacon Hill master-planned development.
The terms of the sale were not disclosed.
“The Cypress and Waller communities are experiencing significant growth, and Memorial Hermann is committed to meeting the healthcare needs of its residents,” Jerry Ashworth, senior vice president and CEO of Memorial Hermann Cypress Hospital and Memorial Hermann Katy Hospital, said in a statement. “We believe that acquiring this land is a wise investment for our organization. It will allow for future growth and enable us to explore opportunities that could benefit both our stakeholders and the community.”
Memorial Hermann has not detailed what it plans to do with the land, but the health system built a new hospital on a 32-acre site it acquired about 17 miles south on U.S. 290. When Memorial Hermann Health System first announced it purchased that land in 2014, then-President and CEO Dan Wolterman viewed Cypress as the one hole left in the system’s geographic coverage. The 81-bed, $168 million Memorial Hermann Cypress Hospital opened in 2017.
Meanwhile, the Waller area, both inside and just outside the city, has seen tremendous growth, thanks in large part to Wolff Cos.’ investment in the Beacon Hill community.
Wolff Cos., owned by David Wolff, purchased 521 acres along the northern side of U.S. 290 west of FM 362 from a local family in 2018 and later added another unattached 43 acres. In 2020, it sold 271 acres to Long Lake Ltd. for the development of a residential community with 867 homes, and in 2022, Wolff Cos. sold 78 acres to Houston-based Hines, which is marketing the site for a build-to-suit industrial development up to 1.3 million square feet.
Since then, Beacon Hill has seen more than $33 million in completed infrastructure improvements, including stormwater detention, trunk water and sewer lines, a lift station, electrical service, and residential streets.
A new exit ramp and frontage road, currently under construction, will provide direct access from U.S. 290 to Beacon Hill by fall 2025.
Memorial Hermann’s purchase is just the latest potential development for Beacon Hill.
“Memorial Hermann’s decision to buy land in Waller County marks an important milestone in Waller’s ongoing transformation into a thriving hub for families, businesses, and institutions,” Danny Marburger, mayor of the city of Waller, said in a statement. “We believe that this will enhance the quality of life in our region for years to come.”
Inside Waller’s city limits, developers are working on three residential communities, all of which are already open north of 290: Long Lake Ltd.’s 270-acre Beacon Hill, Ashton Gray Development’s 171-acre Oakwood Estates and Bold Fox Development’s 470-acre Attwater.
Together, they are projected to bring more than 2,620 new homes to the city, according to Zonda. Assuming an average of three people per household, that’s nearly 8,000 new residents, which would roughly triple Waller’s current population.
Elsewhere, many more residential communities are underway or planned across the Waller Independent School District, which encompasses 328 square miles from the Grand Parkway to the east, past Prairie View to the west and from the Katy Prairie in the south to close to Todd Mission in the north.
“We are thrilled that Memorial Hermann purchased land for possible future development in the City of Waller,” Lynn Spencer, director of Waller Economic Development Corp., said in a statement. “Access to world-class healthcare is a transformative step for our residents as our community continues to grow. This news also signals to businesses and investors that we are a city on the rise and are ready to welcome major anchor tenants to our community.”
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