Aaron Layman's Katy Texas Real Estate Forum

KBR Cancels Katy Campus Project

After placing plans of a new Katy campus on hold last year, it appears KBR has officially pulled the plug on the proposed Katy campus.  According to the Chronicle report, KBR will instead be leasing additional space downtown.  The decision to pull the plug on the Katy campus was no doubt influenced by increased availability of office space downtown in the more competitive commercial real estate market.

The Woodlands Township Takes Control of Master-Planned Community January 1, 2010

The Woodlands will operate under a new government body called The Woodlands Township effective January 1st.  After decades of operating under the typical restrictions of a homeowner's association, residents of The Woodlands will have a new centralized government structure.  The Woodlands Township is a special -purpose district approved by residents to avoid annexation by the city of Houston.

The Woodlands Township will operate much like a city council, with seven board members and a chairman.  The Township will have authority to collect property taxes and sales taxes.  It will also provide services such as maintaining parks and common areas.  The Woodlands' associations which previously controlled the community have ceased control to the Township.  Residents received their first property tax bills from the Township this fall under the new structure.  In May 2010, Woodlands residents will have the opportunity to elect three new Township board members.

For more information, visit The Woodlands Township

The Grand Parkway Senior Apartment Complex Nearing Completion

Construction is almost complete on Blazer Building Inc's second senior project in the Katy area.  The Grand Parkway is a 250-unit senior apartment development located at 22801 Franze Road, next to the fire station.  The facility should begin taking tenants in June or July.  The Grand Parkway will be slightly more upscale than Blazer's previous Providence Place.  One-bedroom rentals are pegged at $895 per month.  Two-bedroom units will go for $1275 per month.

The Grand Parkway and Providence Place complement other senior developments in the Katy area includingHeritage Grand and the Solana at Cinco Ranch.  As more active adults look to eliminate their mortgage payments and the joys of home maintenance, active adult and senior living facilities are enjoying more demand.  Senior facilities allow residents the opportunity stay in the Katy area close to their grandchildren and simplify their lifestyles.  An abundance of hospitals in the Katy area will also provide some peace of mind.  Katy seniors will have a short commute for quality medical care.

Katy Freeway Managed Lanes Opening April 18th

The new HOV (Toll) lanes for the recently expanded Katy Freeway will be opening April 18th.  The toll lanes will be free to carpools, but charges will apply for single occupant vehicles.  Rates will vary from $1 to $4.  See the attached fee schedule for clarification of the tolls involved.   Download Road_rate_chart   You can also visit https://www.hctra.org/katymanagedlanes/ for more details.

Segment E Of Grand Parkway Could Begin In One Year

David Gornet, executive director of the Grand Parkway Association, said this week that segment E of the proposed Grand Parkway (Texas 99) tollway could begin construction within a year.  Segment E is the 15.2 mile segment that would connect I-10 north to U.S. 290 (Northwest Freeway).  Segment E is slated to be a 4 lane toll road.

For more information you can visit www.grandpky.com

KBR Delays Katy West Campus Indefinitely

A spokesperson for KBR, the global engineering construction and services company, confirmed that the construction of a proposed 910,000 square feet campus near I-10 and Texas 99 has been put on hold because of the current economic conditions.  The Katy Area Economic Development Council has been working closely with KBR to outline details for the project.  At this point the project is still expected to happen, but an official start date for construction has been put on hold.

Texas 99 Grand Parkway Toll Road Still Up In The Air

Fort Bend County officials approved a resolution last week that would lay out the terms of a proposed 180-mile toll road around Houston.  The resolution stipulates the scope of the work and initial toll rates.  It also opens the possibility of a market valuation study to determine the project viability.  Ironically, the toll rate aspect of the resolution will likely put a halt to the project in Fort Bend County.  Current average toll rates in the area of approximately 15 cents per mile are nowhere near the 50 cent per mile figure desired to fund the project.  Part of Texas 99 (Grand Parkway) was built as a non-tolled highway several years ago, so it will be interesting to see how TXDot and local government entities try to "sell" the toll road project to local citizens.

Fort Bend County To Increase Toll Fees January 1st 2009

Fort Bend County toll roads will see higher fees beginning January 1st 2009.  Commissioners approved the rates increases to fall in line with recent hikes with Harris County toll roads.

For more information about the rate increases you can visit the Fort Bend County Toll Road Authority at www.fbctra.com.

ProTerra Realty To Begin Katy Business Park In 2009

ProTerra Realty is slated to begin development of a 460 acre tract between Interstate 10 and Highway 90.  The site calls for several million square feet of office and industrial space.  The project will also include a new road to be called Cane Island Parkway.  The city of Katy and the Department of Transportation will cooperate on new road construction.

For more information about the project you can visit www.proterrarealty.com

TxDot's Plans For I-69, Grand Parkway Deserve Attention of Katy Texas Residents

While the plug may have been pulled on the Trans Texas Corridor, there is still plenty of work ahead for Katy area residents.  No official designs or plans have yet been released, but it will be interesting to see what TxDot has in mind when they opt to use existing highways for the I-69 route through Houston.  Based on TxDot's recent behavior, Katy residents would be wise to keep an eye on Austin.

TxDot tried tolling the Grand Parkway in Katy after if was mostly completed.  They abandoned that plan after residents voiced their displeasure.  Now TxDot has scrapped the Trans Texas Corridor because of even more vocal opposition.  TxDot has already stated that future extensions of the Grand Parkway will be toll roads, but will they try to work I-69 into those plans?

Fort Bend County Judge Bob Hebert was quoted in today's Chronicle stating that he will work to prevent TxDot from using existing portions of the Grand Parkway for any Houston I-69 by-pass.  I certainly hope he is successful.  The climate of the Katy community depends on it.  Instead of steamrolling the I-69 concept down Texans' throats, maybe TxDot officials should read Houston City Council member Peter Brown's recent article on mass transit.  It's time for TxDot to pull their collective heads out of the sand and start working on real transportation solutions for Texans.  More concrete and tollways will not solve our energy problems or our need for viable mass transit.

For more information about real estate and mortgage issues contact Aaron Layman.  He is a licensed real estate broker and mortgage broker.  You can contact him directly at 281-994-5190.  You can also visit him on the web at www.AaronLayman.com.