NewQuest and Transwestern Break Ground on 412,588-Square-Foot Kyle Park Retail Center in Texas

• NewQuest and Transwestern Investments have formed a joint venture and begun construction on the retail phase of Kyle Park, a 101-acre mixed-use development in Kyle, Texas.
• The planned lifestyle center will feature approximately 412,588 square feet of retail space with national tenants including Dick’s Sporting Goods, Burlington, HomeGoods, ULTA Beauty, TJ Maxx, Barnes & Noble, Boot Barn and EōS Fitness.
• NewQuest will oversee development, leasing and property management, while Transwestern Investments serves as capital partner and co-sponsor.
• Future phases are expected to add multifamily housing and hotel uses, creating a broader retail, residential and hospitality destination along the I-35 corridor south of Austin.

What NewQuest and Transwestern Are Building

Houston-based NewQuest and Transwestern Investments have launched construction on Kyle Park’s retail component, advancing a 101-acre mixed-use project at the northeast corner of Interstate 35 and Bebee Road in Kyle, within the fast-growing Austin-San Antonio corridor. The approximately 412,588-square-foot lifestyle center will combine big-box retailers, smaller storefronts and pad sites. The project is designed to draw shoppers from Kyle and surrounding communities, giving residents more local shopping, dining and fitness options.

 

 

What the Tenant Lineup Means for Retail

Kyle Park has secured a substantial roster of national retailers, including Dick’s Sporting Goods, Burlington, HomeGoods, ULTA Beauty, TJ Maxx, Barnes & Noble, Boot Barn and EōS Fitness. The mix spans apparel, home goods, beauty, books, sporting goods and fitness, helping establish the project as a regional shopping destination. For retail investors, the preleasing progress is an important signal. National and specialty tenants can help anchor customer traffic and support leasing demand for smaller inline spaces and outparcel locations. The project’s final performance will depend on delivery, tenant openings and the strength of local consumer spending.

What the Mixed-Use Plan Adds

Kyle Park is intended to extend beyond retail. Transwestern Development is planning a future multifamily phase, while hotel uses are also part of the broader vision. Specific details and timing for these phases have not yet been announced. The development also incorporates The Vybe Kyle, a citywide network of more than 50 miles of trails and sidewalks, including routes designed to accommodate small electric vehicles such as golf carts. This connection is intended to improve access between the project and the surrounding community. The City of Kyle has previously said the broader development could create at least 800 full-time jobs and generate approximately $2.5 million in annual sales tax revenue and $1 million in property tax revenue at build-out.

What Investors Should Watch Next

NewQuest is responsible for development, leasing and property management for Kyle Park, while Transwestern Investments provides capital and co-sponsorship. The joint venture structure brings together a retail-focused operator and an investment partner as the project moves into its next phase. An overall completion date for the retail component has not been announced. Earlier project updates indicated that tenant spaces in portions of the retail development could be turned over for build-outs in 2027, but final opening dates remain unconfirmed. Kyle Park is another major retail-led development targeting growth along Central Texas’ I-35 corridor. Its combination of national tenants, future housing and hospitality could strengthen its role as a regional destination as Kyle continues to expand.