The Tomball Economic Development Corporation said it has closed on two strategic properties totaling about 45.75 acres and nearly $4.4 million to support redevelopment of South Live Oak and related downtown events. TEDC staff reported a 29.5-acre tract purchased for just over $2,400,000 closed Aug. 22 and a 16.25-acre tract purchased for $1,915,000 closed July 25.
Those properties, TEDC staff said, are intended to support South Live Oak redevelopment and could serve as remote or off-site lots for overflow parking during downtown activities, including events tied to the Legacy Square project. "This is probably the most exciting that we've been involved in the past couple of weeks," TEDC staff said during the update.
The EDC has scheduled a special board meeting for Sept. 23 and a joint EDC–city council meeting at 11:30 a.m. Oct. 2 to kickoff a feasibility study for Tomball Legacy Square and to receive an update from Studio Red on the project's progress.
TEDC staff also told the council that several additional projects are under nondisclosure agreements and are not yet available for public discussion. Some real‑estate items will be considered in executive session under the Texas Open Meetings Act; the meeting announcement cited Texas Government Code, Chapter 551, sections 551.072 (real‑property deliberations) and 551.087 (economic development negotiations).
The EDC also announced external recognition: the organization said it won two gold awards from the International Economic Development Council, for its annual report and its summer youth employment program, plus a bronze for video success stories.
The council and EDC directors moved the meeting into executive session to deliberate the purchase, exchange, sale, lease or value of real property and economic development negotiations. TEDC staff cautioned that items covered by nondisclosure agreements will not be discussed publicly and that some details remain staff‑level information.