The newly opened “Segment E” of Grand Parkway that stretches from I-10 to 290 links the communities of Katy and Cypress, and has already created some serious buzz. The 15-mile, four lane toll road now offers non-stop travel for those drivers who beforehand had been navigating a series of county and local roads, sitting through congestion and traffic lights.
The toll road is currently free of charge until January 31, 2014. After this, a one way trip for a standard vehicle traveling from I-10 to 290 will cost $2.88. However, the cost will be less for shorter distances.
In addition to the major residential growth that the new Grand Parkway has generated, there has been some notable economic growth as well. The very much anticipated Costco of Katy is nearing its final stages of completion and is scheduled to open its doors on February 6, 2014. It is located on the southwest corner of the Grand Parkway and I-10. This will be a significant benefit to those living in Katy and the Fulshear neighborhoods of Weston Lakes, Fulbrook, Fulshear Creek Crossing and Cross Creek Ranch.
The Grand Parkway is also opening up new land for development including a 124-acre, long vacant parcel of land in at the Northeast intersection of the Grand Parkway and I-10. It is planned for mixed-use development, which has been named Verde Parc. Sites are for sale and will be able to suit a variety of possibilities, such as a hotel, conference center, multifamily or a corporate campus.
Parkside Capital has plans to clear the land and begin site grading as early as January 20, 2014. Joe Moody, President of Parkside Capital, said that “the Grand Parkway will fundamentally change Houston. Verde Parc has direct access to the Grand Parkway, is highly visible and is surrounded by the highest growth residential market in the country. There continues to be enormous pressure on West Houston, and we believe this is one of the best suburban sites in the entire country.”