The Katy area Costco Wholesale store, located on the southwest corner of the Grand Parkway at I-10, is slated to open Feb. 6., according to the store's manager.

Construction on much of the 152,000-square-foot building, which began in July 2013, is already complete. Workers are simultaneously finishing the exterior of the building, some of the remaining interior assembly and have begun stocking inventory.

"This is a growing area, and it's exciting to be here," said Dan Leonhardt, general manager of the store.

The company plans to host a party Feb. 5 from 6–8 p.m. at the store. The party is open to the public and will include local VIPs. From that point forward, the store is made available only to Costco members.

Members pay between $55 and $110 annually, depending on the style of membership they want. Membership benefits include deep discounts on about 3,800–4,000 different items. The Katy area Costco also features a full gas station, hearing aid center, pharmacy, liquor store, tire sales, optical department and other amenities. By special arrangement, the store accepts American Express as its only form of credit payment—in addition to cash and checks.

Negotiation for the 14-acre site came to fruition last summer, as real estate representatives for Costco successfully petitioned the Houston City Council to approve a tax abatement allowing the company to be repaid for up to $1 million of its infrastructure expenses. Costco was initially deciding between the Grand Parkway/I-10 location and a spot near Katy Mills Mall.

The tax rebate was granted as an incentive to build within Houston's extraterritorial jurisdiction, and Houston will receive an estimated $8 million in sales tax revenue over time.

The Katy area store will employ about 200 people. About 170 of those employees were hired locally, Leonhardt said.