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Some development is delayed because of the economy
By HELEN ERIKSEN CHRONICLE CORRESPONDENT
Dec. 10, 2008, 8:14AM

Earlier this year, WoodCreek Development purchased 85 acres near Katy Mills mall to build a retail and office development dubbed Katy Main Street.

Given that the economic slump has affected other projects, developers say they are moving forward cautiously with plans to build the mixed-use center on the southwest corner of Interstate 10 at Pin Oak Road.

“I’d be remiss in saying the economic downturn didn’t affect the entire country,” said Robert Anthony, the firm’s director of land acquisitions, speaking to members of the Katy Area Economic Development Council during a Dec. 9 general assembly meeting.

“But as a partnership and as a company, we are as well-positioned as possible to move forward,” he said. (more…)

By KIMBERLY PIÑA CHRONICLE CORRESPONDENT
Nov. 30, 2008, 3:59PM

As Katy grows with more commercial and residential development, two City Council members are working to preserve the small town’s heritage and protect historic landmarks through a new ordinance.

City Council members Carol Adams and Fabol Hughes are proposing a new historic landmark and historic district ordinance that would help protect historic buildings, promote economic development and preserve Katy’s history. (more…)

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Economy has impacted timing, says developer
By HELEN ERIKSEN CHRONICLE CORRESPONDENT

The LaCenterra retail center development in the heart of Cinco Ranch, is preparing to expand despite the sluggish economy, developers say.

The 34-acre mixed-use project, which opened its first phase in spring 2007, is being built in three phases over several years, developer Woody Mann Jr. of Vista Equities Group said. Facilities include upscale retail, office and medical leasing space. The planned expansion will include about 250 one-and two bedroom residential units.

“We’ll definitely proceed with the second phase of the development, but the timing has certainly been impacted by the state of the economy, as has the status of most development in the planning stage,” Mann said. (more…)

The city of Katy will present its annual Christmas tree lighting ceremony at Katy Heritage Park, 5990 George Bush Drive, on Nov. 20, beginning at 5 p.m.

The event will include photos with and letters to Santa, children’s activities, family entertainment, holiday treats and “a chilly surprise for all the kids.”

The event is coordinated through Katy’s Parks and Recreation Department.

Plans were unveiled at the Katy Area EDC General Assembly meeting on Tuesday August 12 by Clay Development & Construction for the development of two new business parks and construction of a 148,000 sq. ft. industrial spec building west of the Katy city limits. Clay Development has acquired the Stonegate Business Park (Stonegate) located east of Pederson Road between I-10 and US 90 and a 175 acre rail-served tract located north of US 90.

Clay Business Development Manager Charlie Christ made the presentation at the meeting. “We are developing Stonegate with a focus on distribution space from 17,500 sq. ft. to 148,000 sq. ft. on parcels from three to 25 acres and a total of 40 acres are available,” noted Christ. (more…)

New Housing Bill Spells Relief for First-Time Home Buyers, Non-Itemizers
Thu Jul 31, 4:50 PM

KANSAS CITY, Mo.–(BUSINESS WIRE)–President Bush signed into law Wednesday a weighty housing and economic recovery bill designed to encourage homeownership, revamp the housing finance industry and reduce foreclosures.

The Tax Institute at H&R Block reports that the legislation will have a positive impact on taxpayers by making it easier to buy a first home and deduct real property taxes even if homeowners do not itemize.

Refundable tax credit up to $7,500 available to first-time home buyers. (more…)

Formation Development Group Breaks Ground in Houston, Texas. 158 Unit Development to Bring Luxury Senior Living to Cinco Ranch in Katy, Texas.
Formation Development Group |

Houston, TX - Formation Development Group announces the ground breaking of The Solana at Cinco Ranch. When complete in the third quarter of 2009. the project will feature concierge services, mutiple dining venues, a wine bar, and a terrace club activity room, among other amenities. The development of The Solana at Cinco Ranch marks the first time that independent living for seniors, along with assisted living, is being provided in the fast-growing master planned community in West Houston. Its developer, Formation Development Group, says research shows strong demand by Cinco Ranch residents seeking luxury senior living accommodations for themselves or for their aging parents.

The Solana at Cinco Ranch will be located at 24001 Cinco Village Center Boulevard in Katy, Texas, next to LaCenterra, Cinco Ranch’s Main Street-styled center of shops, boutiques, and restaurants. It will offer 126 independent living and 32 assisted living rental apartments. (more…)

July 27, 2008, 10:59PM
2008 Houston Chronicle

The Houston-Galveston Area Council will hold five public meetings in August to explain the four new “managed lanes” that will open in October in the middle of the Katy Freeway.

The lanes will be open to high-occupancy vehicles and buses for free during rush hours and to toll-paying drivers at any time. In other places, the arrangement is called High Occupancy Toll, or HOT, lanes.

The meetings start at 6 p.m.:

•Aug. 14: Kendall Branch Library, 14330 Memorial, Houston
•Aug. 19: Katy Elementary School cafeteria, 5726 George Bush, Katy
•Aug. 21: Memorial Church of Christ, 900 Echo, Houston
•Aug. 26: Cinco Ranch Library, 2620 Commercial Center, Katy
•Aug. 28: Heights Branch Library, 1302 Heights Blvd., Houston