Katy Edition | October 2022

TRANSPORTATION UPDATES TxDOT to dedicate $12B to Houston projects over 10 years

COMPILED BY ASIA ARMOUR

UPCOMING PROJECTS

10

The Texas Department of Trans- portation approved on Aug. 30 the 2023 Unified Transportation Program with an $85 billion, 10-year invest- ment to enhance Texas’ roadways. Of that, $12 billion was allotted to the Houston district, where conges- tion relief is a major focus. In the Katy area, there are four projects totaling $510.7 million. All are planned to begin in fiscal year 2023 and end in 2026. Gov. Greg Abbott commented on the unprecedented amount of funding dedicated to transportation safety, addressing congestion and rural connectivity and preserving roadways for Texas drivers in a news release. He said the 2023 UTP is a crucial step toward addressing rural, urban and metropolitan communities across Texas and a “huge boon to our state’s infrastructure and booming economy.” “As more people move to Texas

and businesses grow across the state, we are working together to make sure Texans’ transportation safety and mobility are secured and businesses can flourish for genera- tions to come,” Abbott said. The most expensive local project is a $292.72 million widening of I-10 in Brookshire, starting at FM 359 and ending at the Waller County-Fort Bend County line. This project received a funding adjustment for an additional $44.75 million, according to UTP documents. The other three area projects have experienced no funding change this year, per 2023 UTP documents. These include a two-part widening of I-10. One portion runs from west of Snake Creek to the Fort Bend County-Harris County line and will cost $128.23 million. The other portion is between the Fort Bend County line and Mason Road and will cost $11.75 million. The funding categories for both

portions of the I-10 widening proj- ects are also, in part, from statewide connectivity corridor projects and strategic priorities. Finally, the 2023 UTP will provide $78 million for another project widening I-10 but with this project starting from the Waller County-Fort Bend County line and ending west of Snake Creek. J. Bruce Bugg, Jr., chair of the Texas Transportation Commission, which is the governing board for TxDOT, said in 2023 UTP documents that this year’s new record in funding is due to Texas’ vital role as a transportation chain for global trade. However, since funding levels do change, it does not ensure that all proposed projects will be built, he wrote. “This forward-looking program ensures that TxDOT is ready to meet future demand and optimize the hard-earned taxpayer dollars dedi- cated to transportation,” Bugg said.

WESTHEIMER PKWY.

99

1093

N

Grand Parkway widening The Texas Department of Transpor- tation will add two more lanes to the Grand Parkway from FM 1093 to I-10. The cost has increased $18 million, and the timeline has been delayed six months since January, TxDOT Public Information Officer Deidrea George said via email. She cited inflation and rede- sign as reasons for the changes. Cost: $103 million Timeline: April 2023-April 2025 Funding sources: state, federal funds

10TH ST.

CANE ISLAND CREEK

1ST ST.

90

N

ALL INFORMATION ON THIS PAGE WAS UPDATED AS OF OCT. 11. NEWS OR QUESTIONS ABOUT THESE OR OTHER LOCAL TRANSPORTATION PROJECTS? EMAIL US AT KTYNEWS@COMMUNITYIMPACT.COM. Development Authority will begin at the end of November or mid-Decem- ber, according to ARKK Engineers. It includes widening First Street from Bartlett Road to Avenue D by creating a center turn lane and adding a bridge over Cane Island Creek. Cost: $2.71 million Timeline: winter 2022-August 2023 Funding source: KDA cash funds First Street reconstruction The project funded by the Katy

Four Katy-area projects totaling $510.7 million are included in the $85 billion 2023 Unified Transportation Program package. Each project includes a segment of I-10 across Waller, Fort Bend and Harris counties. I-10 WIDENING Widening from FM 359 to Waller County-Fort Bend County line Cost: $292.72 million* Timeline: 2023-26 1

W

O L

2855

KATY FORT BEND RD.

90

10

359

KINGSLAND BLVD.

TEXAS HERITAGE PKWY.

99

1463

N

Widening from Waller County-Fort Bend County line to west of Snake Creek 2

Widening from west of Snake Creek to Fort Bend County-Harris County line Cost: $128.23 million Timeline: 2023-26 3

Widening from Fort Bend

4

County line to Mason Road Cost: $11.75 million Timeline: 2023-26

Cost: $78 million Timeline: 2023-26

SOURCE: TEXAS DEPARTMENT OF TRANSPORTATION/COMMUNITY IMPACT

*FUNDING WAS INCREASED BY $44.75 MILLION.

DO YOU KNOW WHAT YOUR PROPERTY IS WORTH TODAY? MEDIAN SALE PRICES IN THE KATY AREA INCREASED OVER $47,000 FROM 2020 TO 2021.* CALL or TEXT 713.851.4871 TO SCHEDULE A FREE IN PERSON EQUITY ANALYSIS. YEAR END APPOINTMENTS ARE FILLING UP FAST. START OFF 2022 BY TAKING ADVANTAGE OF THE CURRENT SELLERS MARKET. Charlie Russo Broker Associate, Realtor® 1411 Ave. A, Katy TX 77493 2015 2021 2021 (*2020 VS 2021 PER HOUSTON ASSOCIATION OF REALTORS stats as of 12/10/2021) MEDIAN SALE PRICES IN THE KATY AREA INCREASED OVER $47,000 FROM 2020 TO 2021.* CALL or TEXT 713.851.4871 TO SCHEDULE A FREE IN PERSON EQUITY ANALYSIS. YEAR END APPOINTMENTS ARE FILLING UP FAST. START OFF 2022 BY TAKING ADVANTAGE OF THE CURRENT SELLERS MARKET. Charlie Russo Broker Associate, Realtor® FREE Computer Generated Equity Analysis Premium MLS Content 1411 Ave. A, Katy TX 77493 2015 (*2020 VS 2021 PER HOUSTON ASSOCIATION OF REALTORS stats as of 12/10/2021) E KATY AREA INCREASED OVER $47,000 FROM 2020 TO 2021.* .4871 TO SCHEDULE A FREE IN PERSON EQUITY ANALYSIS. UP FAST. START OFF 2022 BY TAKING ADVANTAGE OF THE CURRENT SELLERS MARKET. e Russo e, Realtor® 2021 2021 FREE Computer Generated Equity Analysis Premium MLS Content 1411 Ave. A, Katy TX 77493 2015 2021 2021 851.4871 · Charlie@CharlieRussoRealty.com · www.CharlieRussoRealty.com 020 VS 2021 PER HOUSTON ASSOCIATION OF REALTORS stats as of 12/10/2021) Have housing gains ended? Have increases in interest rates cut into affordability enough to decrease sales? Prices generally lag sales, so if sales do suffer, the market could see significant cooling of prices in the months ahead. Don’t miss out on this rare opportunity to get the most of your home’s equity! If you’re waiting on the sidelines, I’ve got answers to any objections you may have. SCAN FOR HOME VALUE

FREE Compu Generated Equity Analy

Premium MLS Content

Direct/Text 713.851.4871 · Charlie@CharlieRussoRealty.com · www.CharlieRussoRealty.com Direct/Text 713.851.4871 · Charlie@CharlieRussoRealty.com · www.CharlieRussoRealty.

11

KATY EDITION • OCTOBER 2022

Powered by