Segment E expected to have 'strong economic impact' in area
The Grand Parkway brought improved mobility and residential growth to Katy and Fort Bend County after its completion 18 years ago —a possibility that could come to fruition in Cy-Fair when Segment E is finished in 2013.
"Although the Cypress corridor has been [expanding] for awhile, it will provide more opportunities for future growth," said David Gornet, executive director of the Grand Parkway Association.
When complete, Segment E will be a four-lane, 15-mile toll road that spans western Harris County and connects I-10 to Hwy. 290. In Katy, the Grand Parkway serves a similar purpose as the main gateway to the master-planned communities of Cinco Ranch, Grand Lakes and Seven Meadows. Additionally, it led to the creation of shopping centers such as LaCenterra at Cinco Ranch, said Lance LaCour, CEO and president of the Katy Area Economic Development Council.
"[Segment E] will have a strong economic impact on the area [between I-10 and Hwy. 290]," he said. "I think you will see mixed-use development with some employment centers taking root over time."
Years of growth
From the time Segment D opened in 1994 until 2008, the amount of taxable value in several Fort Bend County communities increased from about $2 million to more than $1 billion.
"[Segment D] provided much better mobility for the area and drew people in, which drew in more business," Gornet said. "People choose to live out there because they can get to I-10, Hwy. 59 and Westheimer."
Economic growth in the area began when companies in West Houston's Energy Corridor came out of a recession in the late '80s and began hiring again. In turn, several master-planned communities sprouted up near the Barker Reservoir to serve the industry's new employees.
"Cinco Ranch and the Grand Parkway helped locate that growth exactly where it is today," said Roger Hord, president of the West Houston Association. "The growth has been exponential since that time for the area."
According to Hord, adequate transportation facilities are needed to support a large population, and the infrastructure in northwest Harris County is similar to that of Katy's during the early '80s.
"There are no studies yet to prove it, but some believe when the Grand Parkway is put in, because of the condition of 290, some of the traffic from that area will go down 99 to I-10, thus relieving a little congestion on 290," Hord said.
Regardless of the infrastructure issues, Hord expects the Northwest Houston area will be the fastest growing in the Houston region until at least 2050.
"The Grand Parkway will allow the movement of traffic laterally across this large area," he said. "I see no reason, as I look at the Cypress area, that the same kind of growth wouldn't occur."
New choices
Data from the West Houston Association suggests that the areas where FM 529 and Bridgeland intersect with the Grand Parkway will receive an influx of new businesses and residents when Segment E is complete.
"The principle factor in locating [this data] is the transportation network we see being put into place," Hord said. "FM 529 at the Grand Parkway is predicated on our knowledge that where there are major transportation facilities, you'll get a pocket of commercial and office development."
More commercial real estate is planned along the Grand Parkway route in Cypress, including the Lakeland Village Center in Bridgeland, which will feature retail, dining and apartment space.
Across Hwy. 290, H-E-B is in discussions to build a new store in Fairfield, although a final decision has not been reached. However, there are no stores ready to break ground in the area south of Hwy. 290, north of FM 529 and west of Barker Cypress Road. Traditionally, developers prefer to build grocery sites along the freeway, according to Peter Houghton, vice president of master-planned communities for Howard Hughes Corporation, which owns Bridgeland.
"In my opinion, there will be several stores south of 290 in the future," he said. "It's not a question of if it will occur, but when. We hadn't had the growth to justify another store off the freeway until recently."
Residential development
The notion that one of the original intentions to build the Grand Parkway was economic development continues to be an ongoing debate between project supporters and opponents, according to Gornet.
"One could argue that Cypress and Katy are growing whether you build the Grand Parkway or not, therefore it is a reactive response to growth [in the area] and the demand for travel back and forth," he said. "Others might argue that people wouldn't move out there if you hadn't built the roads. They think the roads are the cause of the development rather than the reaction."
Regardless of the intention, new residential development is underway along the path of Segment E in communities such as Bridgeland. Nearly 350 homes were sold there in 2011, the highest sales year to date.
"We have always touted the fact that transportation would be improved for Bridgeland residents via the Grand Parkway, but there is nothing like knowing it is under construction and will be open in a couple years," Houghton said.
