The board voted to authorize Tom Lambert, METRO’s president and CEO, to begin negotiations with NewQuest Properties in regards to a long-term lease on property at Fort Bend Tollway and Hwy. 6 during its Sept. 22 meeting.
“We have been looking for a permanent facility in the Missouri CIty area for a Park & Ride for a very long time,” said Clint Harbert, METRO’s vice president of system and capital planning, at a Sept. 14 capital and strategic planning committee meeting.
The agency put out a request for proposals in March and received one proposal from NewQuest Properties to build a Park & Ride facility on its property in Missouri City as part of a commercial development project and lease the facility to METRO for 40 years.
METRO had a leased site at a Kroger located in Fort Bend Town Center I with 203 parking spaces for the existing Missouri City Hwy. 6 Park & Ride facility. However, the site and lease has expired, Harbert said.
“We seek now to have a permanent facility that we can begin to advance,” Harbert said.
The proposed site is located at Fort Bend Town Center III, a large site at Fort Bend Tollway and Hwy. 6 under development by NewQuest Properties. The facility would be built and owned by NewQuest Properties.
Fort Bend Town Center III will consist of retail, commercial and residential use facilities, Harbert said. The garage would include up to 1,750 parking spaces and be attached to the retail and multifamily development on the site.
“This is one of the fastest-growing areas for employees to locate for those who work down in the [Texas Medical Center] and use commuter services to get there,” Harbert said.
The agency is undertaking environmental clearance due diligence activities with the Federal Transit Administration, which need to be completed prior to a contract so that METRO can pursue federal grants for the project, Harbert said.
The agency has $52 million budgeted for the project in FY 2022-23.
A contract has not yet been executed. Following negotiations, Lambert will need to bring a contract back to the board for approval.