Business and community leaders celebrated the grand opening Wednesday of the luxury apartments in the new Century Square development across from Texas A&M.
Dozens of people, including ambassadors for the Bryan-College Station Chamber of Commerce, College Station City Councilman John Nichols and representatives from Midway Companies real estate firm, attended the ribbon-cutting ceremony for the nearly complete 100 Park apartment building. During the ceremony, construction continued nearby on the rest of the mixed-use development project.
Jonathan Brinsden, Midway CEO, pointed out the noise during his brief remarks, calling it the sound of progress.
"This is just one piece of a much bigger vision," he said. "Hopefully, it's the first ribbon cutting of many to come, and we couldn't be more excited to be a part of the community." The Century Square project began in talks more than a decade ago. Vice Chancellor for the Texas A&M System Phillip Ray complimented Chancellor John Sharp's leadership in getting the project off the ground.
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Century Square sits on land owned by the university and leased to the developer. The previously tax-exempt property is expected to be valued on the tax rolls for millions of dollars and will generate millions for the university -- which will collect money by leasing the land and taking a certain percentage of the money made by each of the development's tenants.
"This is going to be just a tremendous benefit to our community," Ray said. "We're excited about it. There's much more to come."
The luxury apartments became open to renters in August, and 44 of the 249 units are leased. The units are only open to residents 21 and older, and apartment managers said the target demographic is young professionals in the Brazos Valley. Units are priced at about $1.72 per square foot.
The apartment complex will be part of the larger 60-acre development, which will include two hotels -- Cavalry Court, opening this weekend, and The George -- as well as retail, entertainment and other amenities.
The businesses that have signed so far are first-timers to the area. Star Cinema Grill, Tiff's Treats, Zoës Kitchen, Blaze Pizza, Berryhill Baja Grill, HopDoddy Burger Bar and Mo's Irish Pub have been announced.
Century Square General Manger John Taylor said they've been in talks with a few local businesses about being part of the development, and he expects a few to come on board.