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HOUSTON — (July 15, 2008) — Despite a tenth consecutive monthly decline in sales, the average and median prices of a single-family home in the greater Houston area soared to record highs in June, according to statistics released by the Houston Association of REALTORS® (HAR). Single-family home sales slid 14.7 percent on a year over year basis. However, the number of closed sales was the highest since last August.

The average price of a single-family home rose by 4.5 percent last month to $228,448, surpassing the previous high of $218,583 in June 2007. The median price of a single-family home rose 1.3 percent last month to $162,000, surpassing its previous high of $160,000, also from last June. (more…)

July 16, 2008, 6:18PM

A new upscale outdoor mall featuring national and local retailers is headed to the Katy area. Simon Property Group, the owners of Katy Mills Mall, is planning to build a 1.1-million-square-foot mall on the north side of the Katy Freeway near the Grand Parkway and Mason Road.

According to plans on the company’s Web site, www.simon.com, the first phase of the mall development will feature an open-air, town center-type of shopping center.

Scheduled to open in 2012, the outdoor mall will include traditional and fashion department stores, big-box stores, specialty retailers and restaurants.

Officials have not said when construction will begin.

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Condition, Condition, Condition!!! Original owner has babied this house for 28 years. Double pane windows, Hardiplank & 4 side brick,sprinkler system, water softener, covered patio, storage shed. Trane a/c, ducts replaced, new insulation, recent frieze carpet, Kitchen appliances, cabinets refinished, all nickel hardware, 6 panel doors, tile floors, jetted tub w/ cultured marble surround. Back entrance to Peckham Park walking trails/fitness center several doors down. City of Katy = great police!

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Katy-area economic leaders expect KBR project to spur growth
Engineering company plans campus at I-10, Texas 99

By HELEN ERIKSEN
Chronicle Correspondent

Local business leaders are upbeat after KBR’s recent announcement that it would develop a campus in the Katy area, because they say it would generate new jobs, boost the economy and put Katy on the map.

During a meeting of the Katy Area Economic Development Council Tuesday, members praised Lance LaCour, council chief executive officer, for his guidance, leadership and effort in sealing the deal.

“I just can’t tell you how big an event this is for the community,” said council chairman Woody Mann. “I want to publicly acknowledge Lance and everything he did in that effort.”

The global engineering and construction company disclosed details of the development to the public in a recent press release. (more…)

May 15, 2008, 12:28AM

Officials with the Texas Children’s West Campus will break ground today on the new West Houston/Katy hospital.

The $220-million, 490,000-square-foot medical complex will be built on 55 acres at Barker Cypress Road and the Katy Freeway.

Texas Children’s is building the medical facility in response to rapid growth in the Katy area.

The project’s first phase is an outpatient building scheduled to open spring/summer 2010 and will offer 15 pediatric specialty services.

The project’s second phase, scheduled to open fall/winter 2010, is an inpatient facility which will include a pediatric emergency room, 48 inpatient beds, surgical suites, and advanced imaging services.

In subsequent phases, 48 in-patient beds will be added.

By ZEN T.C. ZHENG
Copyright 2008 Houston Chronicle

Fort Bend County officials Tuesday approved the designs and project cost estimates for the expansion of three Katy-area roads despite two county commissioners’ concerns that the prices far exceed what voters had approved.

The three roads — Greenbusch, Katy-Flewellen and Katy-Gaston — are among 47 projects in the $156 million mobility bond package voters supported in May 2007.

Of those, 27 are in unincorporated areas and coordinated by the county, and the rest in the jurisdiction of municipalities. Ron Drachenberg, assistant county engineer, said the three Katy-area roads are among 17 county-sponsored projects under contract for design.

The expansion would rebuild a 2.7-mile segment of Greenbusch from Falcon Landing to Pin Oak, a 1.5-mile stretch of Katy-Flewellen from Katy-Gaston to Pin Oak, and a 1.7-mile section of Katy-Gaston from Cinco Ranch Boulevard to FM 1093 — all currently two-lane country roads with open ditches — as four-lane boulevards with divided medians, curbs and gutters. (more…)

May 1, 2008, 9:52AM

Retail center, rehabilitation facility and hotel set to open in ‘08

By KIMBERLY PIÑA
Chronicle Correspondent

As the city of Katy continues to attract more families and tourists, new businesses are responding to the population growth, and several construction projects are under way.

A retail center, a new nursing and rehabilitation center and the city’s second hotel are expected to open this year.

Plans are also in place to construct more business and professional buildings along the perimeter of Katy Mills mall, a hotspot for commercial growth. (more…)

New 90,000-Square Foot Facility Will be Located along Energy Corridor
From the Katy Economic Development Council

(Houston, Texas – April 11, 2008) Duke Realty Corporation (Duke) announced that Det Norske Veritas (DNV), a Norwegian-based engineering company that provides risk management and asset maintenance/enhancement consulting to the energy and maritime industries, has commissioned Duke to develop a 90,000-square foot Class A office building in the Katy submarket for its Houston operations.

The two-story building will be located between Mason Road and Grand Parkway, one-half mile from I-10, or Katy Freeway. DNV’s new Katy-area facility will shorten the commute for their employees and, with the recently completed improvements to I-10, DNV will still be conveniently located to their energy-related customers in the Energy Corridor. (more…)

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