The Young Ranch Planed Development District, a master-planned community approved by the Katy City Council in October, will cover 388 acres south of Interstate 10 between Anserra and Willow Creek Farms on Pederson Road.

The land for the project will extend the city's boundaries westward and was annexed by the city in May.

The community will feature about 1,000 homes and is expected to include trails, parks, ponds and other amenities. Ryland Homes and Beazer Homes will split development costs for the community's residential sections.

The community will be split almost evenly between Katy and Lamar Consolidated independent school districts, city officials said.

Fifteen acres have been set aside inside the community for the construction of an elementary school by Katy ISD, city of Katy planning technician Anas Garfaoui said.

The neighborhood will also feature some light commercial districts, Garfaoui said, including businesses such as daycares and dry cleaners and other amenities for the neighborhood.

A timeline has not been set for when construction will begin on the development, Garfaoui said.

"As of today nothing has been approved, so we don't have a date for when construction might start," he said.