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Grand at Aliana Phase III Under Way, Costco Buys 20 Acres to Anchor Expansion

(RICHMOND) - Culminating two years of negotiations, NewQuest Properties has sold a 20-acre tract to Costco Wholesale Corp. in the Grand at Aliana in Richmond, jumpstarting immediate construction on a third development phase with the world’s third largest retailer as the anchor.

Costco, now under construction on its 154,648-sf store, is planning a summer opening of its third membership warehouse in Fort Bend County. The project is kicking off NewQuest’s 250,000-square-foot expansion of the Grand at Aliana, a 400,000-sf mixed-use development with nearly one mile of frontage on the Grand Parkway/TX 99.

“Costco joining the Grand at Aliana validates the strength of the market and rounds out our traffic-generating anchors to further protect the long-term value of the overall project for future and existing occupants,” says Austin Alvis, president of the Houston-based brokerage and development firm.

NewQuest has been developing the 80-acre Grand at Aliana since 2018. The regional development’s next phase will include multifamily units, medical facilities, freestanding restaurants and 20,000 sf of additional restaurant and retail space.

“Phase III is the final commercial development piece of the Aliana community,” Alvis says. “We are thankful to have been able to work with the master-planned community developer, Airia, to bring additional essential retail and services to Aliana.”

Costco’s development site is located at the intersection of West Airport Drive and the Grand Parkway, the primary access point connecting several master-planned communities to the commercial corridor and freeways. The warehouse will neighbor NewQuest’s proposed multifamily development, separated only by an interior road in the Grand at Aliana.


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