SOURCE: Kickerillo and Mischer V & W Partners

January 25, 2008 11:50 ET

The Vintage Welcomes St. Luke's Episcopal Health System

St. Luke's Purchases Site in The Vintage, Pushing Value of Announced Projects in the Development to More Than $1 Billion in Just 2 1/2 Years

HOUSTON, TX--(Marketwire - January 25, 2008) - Kickerillo and Mischer's V&W Partners, Ltd. is pleased to announce that St. Luke's Episcopal Health System will open facilities in The Vintage, a 630-acre master planned mixed-use development located at Hwy. 249 and Louetta adjacent to the Hewlett-Packard campus which has 8,000 employees.

St. Luke's and Kelsey-Seybold, a St. Luke's affiliate, together have purchased a total of 40 acres for a state-of-the-art medical campus. In the next couple of months, St. Luke's will open a freestanding community emergency center at The Vintage and Kelsey-Seybold will open its new medical office building. Some of the physician tenants for Kelsey-Seybold will be relocating from a hospital campus in Willowbrook.

St. Luke's plans to develop a new community hospital for its campus at The Vintage, targeted to open 2010 to 2011. The St. Luke's hospital could initially open with anywhere between 70 to 100 beds. Kelsey-Seybold's 60,000-square-foot building, which they have billed as their "Medical Office of the Future," will offer services such as Magnetic Resonance Imaging (MRI), Computerized Tomography (CT), digital X-ray and mammography services, laboratory and pharmacy. In addition, the freestanding community emergency center, occupying 12,000 square feet, will offer service 24 hours a day, seven days a week. The land is adjacent to a 20-acre lake which wraps the site and joins the Kickerillo-Mischer Nature Preserve.

"We are excited to have St. Luke's and Kelsey-Seybold, who make up one of the world's most respected health care systems, at The Vintage," said Vincent Kickerillo, CEO of Kickerillo Company. "Area residents will soon have convenient access to world-class medical expertise and compassionate care for which the St. Luke's Episcopal Health System is known."

David Koontz, Senior Vice President at St. Luke's Episcopal Health System, said, "The Vintage will serve as another premium location among the four Houston communities selected by St. Luke's as it advances its suburban expansion strategy. St. Luke's is in the process of doubling its capacity in The Woodlands, is preparing to develop a community hospital in Katy, has a community hospital under construction in Sugar Land and will soon break ground for a hospital near Clear Lake. We look forward to collaborating with the local physician community in designing and building a hospital to serve the growing community needs in northwest Houston. The Vintage promises to provide the type of healing environment we strive to achieve when developing these new facilities."

About the Vintage

The Vintage is a development by V&W Partners, Ltd., a partnership between local real estate development organizations Kickerillo Company and Mischer Investments (V for Vincent Kickerillo and W for Walter Mischer, Sr.). V&W acquired the 630-acre property from Hewlett-Packard in 2004/2005. The Vintage has become one of Houston's most exciting master planned mixed-use developments in Houston's history. During the first two and a half years, 84% of its land area has been committed to use inclusive of 380 acres of upscale projects which are now complete or under development. Additionally, the developers are in the process of dedicating 150 acres to Harris County as a permanent park.

The announced projects to date contain 537,000 square feet of retail/office space, over 1,600 upscale residences, a 123-room hotel as well as the St Luke's and Kelsey Seybold medical campus. The $430 million Hewlett-Packard Data Center is also under development on 80 acres within the center of The Vintage.

"The Vintage represents an ultimate investment of more than $1 billion at the center of rapidly growing northwest Houston," said Walter Mischer, Jr., who is a principal in Mischer Investments. "The development brings much needed quality-of-life improvements to the area which will continue to attract businesses, residents, shoppers and recreational visitors while offering a gathering place for the community."

Vintage Park Upscale Lifestyle Shopping

Developed on 84 acres by The Interfin Companies, the creators of Uptown Park, Vintage Park will be an upscale-lifestyle shopping destination with European flair. The center's stunning design is reminiscent of an Italian shopping promenade with hand-laid pavers creating a cobblestone street effect, stucco and stone-column walkways, clay tile roofs and mosaic ornamental details. The Piazza, the central core of Vintage Park, will feature a series of fountains and gardens surrounded by restaurants and covered by an arched portico.

"One more time, we are creating a project of extraordinary design and quality -- with a true Italian village atmosphere, destined to become a gathering place to all those living in the northwest part of our city," said Giorgio Borlenghi, president of The Interfin Companies. "Fountains, colonnades and landscaped sidewalks make the shopping experience become a lifestyle experience, as Vintage Park becomes part of the urban fabric of the city itself."

The lifestyle portion of the development will have approximately 321,000 square feet of ground floor space and up to 24,000 square feet of second story office space. Currently 100,000 square feet have been committed to 30 tenants.

Already open at Vintage Park is Vintage Market HEB, a 115,000-square-foot, next-generation HEB store that combines the best of HEB food and drug stores with the best of Central Market. The facility employs about 550 people and is expected to have more than 25,000 shoppers per week. It boasts one of the largest seafood departments in greater Houston with 7-day-a-week fresh fish deliveries from around the world and the largest meat market in greater Houston offering USDA prime, organic and natural meats. It also offers shoppers more than 2,000 varieties of the world's best wines, over 900 fruits and vegetables, 400 varieties of specialty and imported cheese, full-service sushi bar and Central Market Cafe on the Run and catering. The store also houses an IBC Bank, pharmacy and RediClinic, which provides high-quality, affordable health care with no appointments, no waiting, and routine treatment and preventive care in about 15 minutes. For ultimate convenience, a gas station is located in the parking lot of the Vintage Market HEB. An additional 20,000 square feet of retail space, owned by Vintage Market HEB, is available for leasing.

Other tenants at Vintage Park include Alan Murphy Salon, All About Feet, Amegy Bank, America's Mattress, Bank of Texas, Brix Wine Cellars, Cheeseburger Cheeseburger, Compass Bank, CoCo's Crepery, Cookie Associates, Dr. James Clarke, D.D.S, Dr. Garrone, D.D.S., eminence fine furniture, EXIT Realty, Fish City Grill, Imagination Toys and Shoes, Kickerillo Companies Showroom, Land America Title, Mellisa Ray Agency, Mia Bella Restaurant, Peli Peli, Pepper Lawson Construction, Potbelly Sandwich Works, Roosters, Shogun Restaurant, Signature Electronics, Starbucks, Trust Mark National Bank, Venetian Nail Salon and Verizon Wireless.

Element by Westin, a 123-room, contemporary upscale, extended-stay hotel, is projected to open in 2008. An additional 30 acres at Vintage Park is available for future development. For more information on Vintage Park visit www.vintageparkhouston.com.

Kickerillo-Mischer Preserve

The Kickerillo-Mischer Preserve is a 150-acre preserve that is in the process of being dedicated to Harris County as permanent park land. As part of its commitment to conservation, V&W Partners met with area environmental groups and worked closely with Harris County Precinct 4 Commissioner Jerry Eversole, Harris County Precinct 4 Park Director Dennis Johnston, Arthur Storey, Executive Director of the Public Infrastructure Department, planner Bruce Batts of Kerry Gilbert and Associates, and civil engineer Randy Randerman of Brown and Gay Engineers to revise the original land plan and create a preserve area. The Kickerillo-Mischer Preserve will include educational facilities and nature trails. The Cypress Creek Greenway trail system is planned to run along the southern border of The Vintage, eventually connecting the preserve to numerous parks and neighborhoods along Spring Creek from Hwy. 290 to I-45.

Additional Retail Centers

Two additional retail centers are also underway at The Vintage: The Vintage Center and The Shops at The Vintage. Currently under construction, The Vintage Center is a 40,000-square-foot retail center developed by BPI Realty. It is scheduled to open in 1st quarter 2008. The Shops at The Vintage, a 39,000-square-foot retail center developed by Hunington Properties, is completed and fully leased. Tenants include Carvel Ice Cream, Martinis and More, Vintage Park Dentistry, Wachovia Bank and party supply company Just Party.

Over 1,600 Luxury Residences

The Vintage also has a number of residential projects under development, including Vintage Lakes with homes by Kickerillo ranging in price from $500,000 to over $2 million; Vintage Royale by Portrait Homes with townhomes and detached villas ranging from $169,000 to over $200,000; and Vintage di Vita by cityhomes by Centex with townhomes ranging from $259,000 to $339,000. The Vintage also will feature upscale apartment communities by Sueba. Vintage Park Apartments is now open for occupancy and offers 324 luxury garden-style apartments, and San Cierra will offer 362 luxury garden-style apartments and is scheduled for completion during 4th quarter 2008. Sueba has plans to add a third upscale apartment project to The Vintage.

An additional 30 acres at Vintage Park and 90 acres elsewhere in The Vintage are available for future development.

About Kickerillo Company

Kickerillo Company is Houston's premier home-building and land development company, founded by Vincent Kickerillo on the principles of integrity, loyalty and skill. Kickerillo Companies has developed over 30 of Houston's most notable communities featuring not only high quality custom homes, but also a wide variety of shops, churches, schools, and recreational facilities. Kickerillo has had a profound impact on the growth of Houston and the trends of the upscale housing market. He shares his good fortune with his wife Mary and their daughter Kelli, who both hold prominent positions in the company.

For fifty years Kickerillo has built homes, developed land, owned banks and savings and loans, produced music and collaborated with the best companies. Currently, Kickerillo Company is building homes in six developments in the greater Houston area as well as investing in several commercial and retail developments, all reflecting a commitment to building peace of mind. For more information please visit www.kickerillo.com.

About Mischer Investments

During the past six decades, Walter Mischer, Sr. and his affiliated companies in banking, construction, homebuilding and master-planned community development played a vital role in the growth and prosperity of the Greater Houston Area, creating more than 125,000 home sites for almost a half-million people and developing more than 1,500,000 square feet of commercial and medical office space. Mr. Mischer's career was defined by shaping the communities of our region, and enriching lives in the process. That tradition lives on with Walter ("Walt") Mischer, Jr. and Paula Mischer, the next generation now leading the family business.

As the market has evolved, so has the focus of our investment and development activities. We have successfully transitioned from our roots in construction and banking to our focus today on real estate activities including master-planned communities, mixed-use urban core projects, and healthcare facilities. Our ability to directly provide significant amounts of equity capital, combined with our development and management expertise, provides a substantial competitive advantage that ensures success for our clients and partners. For more information please visit www.mischerinvestments.com.

About St. Luke's Episcopal Health System

St. Luke's Episcopal Health System comprises the flagship St. Luke's Episcopal Hospital in the Texas Medical Center, founded in 1954 by the Episcopal Diocese of Texas; St. Luke's Community Medical Center-The Woodlands; St. Luke's Episcopal Health Charities, a charity devoted to assessing and enhancing community health, especially among the underserved; and Kelsey-Seybold Management, LLP, overseeing 18 area clinic locations. St. Luke's Sugar Land Hospital is under construction, scheduled to open in 2008, and St. Luke's Clear Lake will open in 2010. St. Luke's Episcopal Hospital is home to the Texas Heart® Institute, founded in 1962 by Denton A. Cooley, MD, and is consistently ranked among the top 10 cardiology and heart surgery centers in the nation by U.S.News & World Report. Affiliated with several nursing schools and two medical schools, St. Luke's serves as the primary adult teaching hospital for Baylor College of Medicine. St. Luke's was the first hospital in Texas named a Magnet hospital for nursing excellence, and the Health System has been recognized by FORTUNE as among "100 Best Companies to Work For" and by Houston Business Journal as a top employer in Houston.

Contact Information

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    Marion, Montgomery, Inc.
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