The illustration represents 80 acres of buildable areas and roughly 90 acres of park and lake, which is owned by the Katy Development Authority or Sueba, a real estate development company, said Vice President of Sueba Raymond Gabriele. After its turn at the Katy City Hall, the model will travel to various leasing and development agencies to promote the project.
Sueba purchased most of the boardwalk three years ago, he said. The development company owns the single-family site, two multi-family sites, the mixed-used commercial site and an office site. Katy Development Authority owns the conference center, hotel, retail center and restaurant row.
A luxury, loft-style, multifamily apartment complex with 319 units—which broke ground in early March—marks Phase 1 of the boardwalk project, Gabriele said, and it is expected to open by early summer of 2020.
Phase 2 will consist of two parts, he said. Part A will be the hotel conference center, which is expected to break ground by the end of this year and to be completed by fall 2021, he said. Part B will include the retail and mixed-use commercial area across the street from the hotel conference center, which will break ground in early 2020 to reach the goal of opening Part A and Part B roughly around the same time.
A second multi-family apartment complex makes up Phase 3, and is a sister project to Phase 1, Gabriele said. Phase 4, a single-family project, and Phase 5, a potential office space, will break ground once Phase 3 is completed.
Additionally, there are about three phases to the lake construction, Gabriele said. Phase 1 covered the engineering aspect, which was to increase its capacity and deepen it. Phase 2 consisted of building the trails, landscaping and pedestrian bridges.
Construction on the lake has paused to allow the hotel conference center and the lakefront to better integrate into a cohesive design, he said. Phase 3 will be to finish the balance of the trails.
Completing the entire Katy Boardwalk project could take another six to eight years, Gabriele said. The hotel conference center, retail center and apartment units are expected to be completed by 2021.
“It’s all designed with a lot of great amenities, a lot of natural light, and an incomparable asset with the lake in the back,” Gabriele said. “The goal is to create a food and entertainment destination for Katy. something that feels authentic to Katy.”