What we reported: Katy Boardwalk District—a 169-acre, mixed use-development on Kingsland Boulevard across from Katy Mills—completed portions of the 90-acre lake, trails and boardwalk in March, city officials said. Project delays caused the city of Katy to extend the memorandum of understanding with the private development partners in the project. The agreement created a new financial structure and new deadlines for construction and the selection of the hotel and conference center operator. In December, it was announced developer KBH Ventures and the city of Katy would partner with Benchmark Global to develop the 43,000-square-foot conference center to anchor the district.
The latest: At the Jan. 14 meeting, Katy City Council approved an amendment to the development agreement that named Hyatt Regency as the full-service hotel at the development. Operated by franchisee HBH Ventures LLC, the hotel will have a minimum of 300 rooms as well as a restaurant, bar, pool and fitness center. City officials said at a Jan. 16 Katy Area Chamber of Commerce event that the hotel and conference center will break ground in the fall and will be completed by fall 2020. Additionally, construction on the first loft apartment complex is expected to begin in early 2019, city officials said.
“[The Katy Boardwalk District is] going to be a billion-dollar project at some point,” Brawner said at the Jan. 14 meeting. “I mean, when it’s finished out, it’s going to be a billion dollars [in property value].”