Katy Edition | July 2022

KATY EDITION

VOLUME, ISSUE  XX, 2022 2022 Katy sees higher home prices in seller’s market

ONLINE AT

REAL ESTATE EDITION

VOLUME 10, ISSUE 11  JULY 20AUG. 23, 2022

HIGH PRICES, HIGH DEMAND The Katy area has seen rising home prices over the last ve years. Meanwhile, the number of homes sold has stayed consistent—but the number of listings has decreased signicantly.

AVERAGE HOME PRICES

$600K $500K

2020 $200K $400K $300K $100K 0 MAY HOMES SOLD VERSUS NUMBER OF LISTINGS 2019 2021 2022 2018

BY ASIA ARMOUR & HUNTER MARROW

Katy’s housing landscape is marked by an increasing demand for new inventory, plateauing home prices and increasing interest rates, local experts said. Despite a challenging market skewed toward sellers, experts said the area remains a “highly desirable” place to live due to the area’s master-planned communities, schools and its proximity to major highways—such as the Katy Freeway, Westpark Tollway and Grand Parkway. Houston Association of Realtors Chair Jennifer Wauhob said Houston’s market has more buyers than homes, which increases prices and makes it more competitive for potential homeowners. “One thing that [a seller’s market] does is drives up prices,’’ Wauhob said. “We have had a big increase in price

North Katy

Southeast Katy

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KISD strategic plan focuses on teacher pay, could bring up to a $12.2M shortfall

“I CAN’T SPEAK SPECIFICALLY …ON HOW MUCH THE FULL DEFICIT WOULD BE TO THE BUDGET, BUT I CAN SAY THE RAISE IS GOING TO BE PART OF THAT DEFICIT.” KEN GREGORSKI, KATY ISD SUPERINTENDENT

BY LAURA ROBB

approved a new compensation plan at the same meeting, which could result in as much as a $12.2 million budget shortfall for the 2022-23 scal year budget, ocials said. The strategic CONTINUED ON 21

Katy ISD is prioritizing teacher retention—among other goals—in its strategic plan adopted at a June 20 board of trustees meeting. To meet strategic plan needs, the district

REAL ESTATE EDITION 2022 SNAPSHOT

$550M I10 project to span three counties

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NEWS REPORT

PEOPLE

IMPACTS

TODO LIST

TRANSPORTATION

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KATY EDITION • JULY 2022

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THIS ISSUE

ABOUT US

Owners John and Jennifer Garrett launched the rst edition of Community Impact Newspaper in 2005 with three full-time employees covering Round Rock and Pugerville, Texas. Now in 2022, CI is still locally owned. We have expanded to include hundreds of employees, our own software platform and printing facility, and over 30 hyperlocal editions across the state with a circulation to more than 2.4 million residential mailboxes.

HIGHLIGHTS FROM THIS MONTH

FROM AMY: In our annual Real Estate Edition, we dive in to local trends regarding home sales, appraisals, homestead exemptions and more. We also spoke to a Houston-based solar energy expert on the details of solar installation, credits and how they can aect homeowners insurance. Amy Martinez, GENERAL MANAGER

Community Impact Newspaper teams include general managers, editors, reporters, graphic designers, sales account executives and sales support, all immersed and invested in the communities they serve. Our mission is to build communities of informed citizens and thriving businesses through the collaboration of a passionate team. Our core values are Faith, Passion, Quality, Innovation and Integrity.

FROM LAURA: This month, we rounded up details on one of the largest transportation projects headed to the Katy area in 2023. We also spoke to two local contractors for some air conditioning maintenance and painting tips for homeowners. Laura Robb, EDITOR

Our purpose is to be a light for our readers, customers, partners and each other.

WHAT WE COVER

Sign up for our daily newsletter to receive the latest headlines direct to your inbox. communityimpact.com/ newsletter DAILY INBOX Visit our website for free access to the latest news, photos and infographics about your community and nearby cities. communityimpact.com LIVE UPDATES

MARKET TEAM GENERAL MANAGER Amy Martinez EDITOR Laura Robb REPORTER Asia Armour GRAPHIC DESIGNER La'Toya Smith ACCOUNT EXECUTIVE Tracy Drewa METRO LEADERSHIP PUBLISHER Jason Culpepper MANAGING EDITOR Kelly Schaer COPY EDITOR Kasey Salisbury

BUSINESS & DINING Local business development news that aects you

TRANSPORTATION & DEVELOPMENT Regular updates on area projects to keep you in the know

SCHOOL, CITY & COUNTY We attend area meetings to keep you informed

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KATY EDITION • JULY 2022

IMPACTS

Businesses that have recently opened or are coming soon, relocating or expanding

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COMING SOON 4 On the Kirb will open a third loca- tion at 25230 FM 1093, Katy, in August. The restaurant markets itself as an organic eatery and sports bar and oers diners fresh local produce, organic meats and free-range poultry, according to the eatery’s website. The Kirb’s menu features brunch and dinner items as well as beer and wine selections and various cocktails. It also has a happy hour during the week. The restaurant, which has online ordering and oers catering, also has additional locations in Midtown and Upper Kirby. www.onthekirb.com 5 Isikel , a woman-owned business that produces, manufactures and dis- tributes medical supplies, plans to open a 196,000-square-foot facility in Katy this fall. The site, which will be located at 28350 W. Ten Blvd., is indicative of the company’s growth and the increased demand for medical supplies, according to a June 22 news release. Once the new facility becomes fully operational, the business expects to produce almost 440 million nitrile gloves per year with production of saline solutions coming in the months following. www.isikel.com 6 Oregon-based coee shop Dutch Bros is slated to open in Katy in early 2023 at the shops at Katy Reserve on 1708 Spring Green Blvd., per a news release by NewQuest Properties. Dutch Bros is planning a 833-square-foot kiosk with two drive-thru lanes. Construc- tion will begin in September. Dutch Bros’ menu features specialty coees, smoothies, teas, energy drinks and cold brews. www.dutchbros.com

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NOW OPEN 1 On June 22, House of Pies held a soft opening for its newest location in Katy at 20802 Katy Freeway, which was once Newk’s Eatery. Not only does House of Pies have pie varieties such as French silk, Dutch apple, coconut cream and cherry pie, but its menu also includes cookies, homemade muns, ice cream and a collection of other sweet treats—as well as a host of breakfast, lunch and dinner options. House of Pies is a Houston chain founded in 1967 with six area locations, including in Katy. The Katy location is not yet accepting call-in

orders but will following the store’s full grand opening. 281-717-8400. www.houseofpies.com 2 Chicken Kitchen opened its second Houston location at 3011 W. Grand Parkway N., Ste. 800, Katy, on May 16. The Miami-based restaurant markets itself as a healthy and fresh fast-food kitchen with grilled chicken entrees, fresh salads, and homemade sides and recipes. According to the brand’s website, Chicken Kitchen uses recipes that adhere to the nutrition guide- lines established by the American Heart Association in regards to fat, calories and cholesterol. Menu items

include bowls, salads, chicken breast platters and burritos. 832-437-0142. www.chickenkitchentx.com 3 ExploreUSA RV Supercenter opened its new location on June 21 at 27809 Katy Freeway, Katy. ExploreUSA RV Supercenter sells both new and used RVs and also provides maintenance and repair services for a variety of types of recreational vehicles. The RV store sells various styles of recreational vehicles, including Class A, B and C motorhomes; fth wheels; and toy haulers. The chain has 17 locations throughout the state. 346-471-5710. www.exploreusa.com

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COMMUNITY IMPACT NEWSPAPER • COMMUNITYIMPACT.COM

COMPILED BY ASIA ARMOUR, RENEE FARMER & LAURA ROBB

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On the Kirb

Howdy Homemade Ice Cream

COURTESY ON THE KIRB

COURTESY HOWDY HOMEMADE ICE CREAM

EXPANSIONS 11 Rick Rice Park , a 13-acre green space located at 700 Westgreen Blvd., Katy, has added new games to its half-mile trail: one set of leap frog prints, two hopscotch patterns and an instructional outline for the tree yoga pose, ocials shared in a June 20 news release. These games can be found on the trail north of the lake loop, past the CanCare Overlook, near a seated area for adult supervision. 281-579-4500. www.interstatemud.com 12 Memorial Hermann Katy Hospital has widened the scope of its pediatric services to include a pediatric hospital- ist team, according to a July 5 news re- lease. Located at 23900 Katy Freeway, Katy, Memorial Hermann Katy’s pediat- ric services also include general surgery, cardiology, orthopedics and other pediatric subspecialties. 281-644-7000. www.memorialhermann.org ANNIVERSARIES 13 Howdy Homemade Ice Cream , located at 20920 Katy Freeway, Ste. S, will celebrate its one-year anniversary on July 22. The ice cream parlor has a mission to employ adults with disabilities and seeks to change the way businesses hire this underemployed group. Owner Roderick Batson partnered with Trae Tha Truth, a hip-hop artist and Billboard Change Maker Award winner, to start the Katy franchise. Since a new partnership with the Universi- ty of Houston has expanded the franchise, Howdy Homemade Ice Cream is looking to hire managers at the Katy store, more employees to serve ice cream in Katy at Legacy and Rhodes stadium, and an

7 Southern Dough Baking Co. , scheduled to rise in Katy this fall, will be located near downtown at 908 Ave. B, Katy. The eatery is the rst of its concept and will be open for lunch and dinner. Its menu will feature sandwiches, salads, pies and Southern comfort food plates. www.thesodough.com 8 Cavity Patrol Pediatric Dentistry , a children’s dental practice, plans to open a new practice this fall at 25230 FM 1093, Ste. C, Katy. The children’s dental practice will oer dental cleaning and restorations, teeth spacing maintenance, frenectomies to treat tongue and lip ties, baby root canals and extractions. Patients can utilize one of three types of sedation oered at the clinic to com- bat dental anxiety. 832-930-0060. www.cavitypatrolpediatricdentistry.com 9 Fig Flower Boutique will open this fall at 1711 Spring Green Blvd., Katy, in the Shops at Katy Reserve. The husband- and-wife-owned shop will sell ower arrangements and gifts for various occa- sions. Co-owner Consuelo Cordova said she plans to dedicate a dened portion of every sale for charitable purposes to inspire positive change in her hometown in Colombia. 10 Skin Spirit will open a new med- ical spa clinic this summer at 23501 Cinco Ranch Blvd, Ste. J110, Katy, in LaCenterra at Cinco Ranch. Skin Spirit oers face contouring and smoothing services, such as Botox and ller treat- ments; texture, tone and tightening services, which include microneedling and laser resurfacing; body sculpting; facial treatments; laser hair removal; and a medical weight loss program. 281-769-8644. www.skinspirit.com

Fork It opened in June on Mercantile Parkway in Katy.

COURTESY FORK IT

FEATURED IMPACT NOW OPEN Fork It , a restaurant whose menu fuses comfort food favorites from all dierent cultures, held a soft launch June 16 for its new Katy storefront. The eatery, which relocated from New Jersey to its new base at 23227 Mercantile Parkway, Katy, has a build-your-own menu. Starting with a base of the meal, customers can choose between options such as mac and cheese, cilantro rice or salad. Then patrons can select a protein from items such as lamb chops, shrimp, catsh or chicken. These can be fried, grilled, jerked or even stued. The plate is adorned with toppings and the customer’s choice of sauce, including halal white sauce, hot sauce or Fork It’s homemade teriyaki sauce. Also on the menu are birria tacos and platters with the customer’s choice of inner city Houston team for the univer- sity’s sporting events. 713-425-2224. www.howdyhomemadekaty.com 14 The Johnny Nelson Katy Heri- tage Museum celebrated its 20-year anniversary June 13. Opened in 2002, the history museum displays vintage farming equipment, artifacts, photo- graphs and antiques that exemplify the city of Katy’s legacy of pioneering and agriculture. The Johnny Nelson Katy

protein and sides along with various combos, sides and desserts. Fork It also does surf-and-turf meals, such as tacos with shrimp and beef. For the soft opening, the eatery focused on brunch items, such as cheesecake waes and pound cake French toast. These meals can be accompanied with grits, mac and cheese, home fries or mashed potatoes along with two eggs and bacon or sausage. 281-665-8689. www.nowforkit.com

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Heritage Museum is located at 6002 George Bush Drive, Katy. 281-574-8618. www.cityoaty.com/visitors/museums 15 Painted Tree Boutiques celebrated the one-year anniversary of its Cinco Ranch location at 6729 S. Fry Road, Katy, on July 4. Hundreds of dierent vendors sell handmade gifts, decor and clothing under one roof. The boutique has loca- tions around Texas and the United States. 636-888-2667. www.paintedtree.com

Expect Better SM from your Katy neighbors!

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©2017 Better Homes and Gardens Real Estate LLC. Better Homes and Gardens ® is a registered trademark of Meredith Corporation licensed to Better Homes and Gardens Real Estate LLC. Equal Opportunity Company. Equal Housing Opportunity. Each Franchise is Independently Owned and Operated. If your property is currently listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers.

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KATY EDITION • JULY 2022

TODO LIST

July & August events

COMPILED BY RENEE FARMER

AUGUST 04 ENJOY A BEER Raise a glass for National IPA Day at No Label Brewing. The brewery will have a variety of IPAs available for purchase as well as live music, food trucks, vendors and IPA Day merchandise. 3-10 p.m. Free. No Label Brewing Co., 5351 First St., Katy. 281-693-7545. www.nolabelbrew.com 06 PARTY BEFORE GOING BACK TO SCHOOL Celebrate the start of the school year with the Back to School Bash at Willow Fork Drainage District’s Central Green Park. Enjoy games, face painting, crafts and an appearance by Buzz Lightyear. The bash will also feature live music from Katy Marimba, Grace Fellowship’s youth and teen bands, and Drive Band. 6:30-10 p.m. Free. Central Green Park, 23501 Cinco Ranch Blvd., Katy. 832-265-0506. www.centralgreenpark.com 13 MINE FOR GEMS Visit Katy Rock Shop for Sluice Saturdays. Guests can purchase a bag of ore, sift through it and learn more about their treasure. 9 a.m.-2 p.m. $10-$15. Katy Rock Shop, 535 Pin Oak Road, Katy. 832-437-4733. www.katyrockshop.com

WATCH ‘JURASSIC PARK’ VFW PARK

AUG. 12

The Katy Parks & Recreation Department will host an outdoor showing of “Jurassic Park” as part of its Katy Summer Nights Movies in the Park series. Activities will be available starting at 7:30 p.m before the movie begins at around 8 p.m., and snacks and drinks will be available for purchase. 7:30-9:30 p.m. Free. Veterans of Foreign Wars Park, 6202 George Bush Drive, Katy. 281-391-4840. www.cityoaty.com Doors will open at 7. Call Mo’s Place for reserved seating; otherwise, tickets are standing room only. 9:30 p.m. $20-$25. Mo’s Place, 21940 Kingsland Blvd., Katy. 281-392-3499.www.outhousetickets.com/ Event/19820-Stoney_LaRue 31 CELEBRATE SUMMER WITH FAMILY Join the community in celebrating summer with family. Houston Family Magazine will host its annual Houston Family Fun Fest with activities, live music, food trucks and prizes. Noon- 4 p.m. Free. LaCenterra, 23501 Cinco Ranch Blvd., Katy. 713-266-1885. www.houstonfamilymagazine.com/fun- fest-houston-family

The Gulf Coast Regional Blood Center will host a blood drive at LaCenterra. FEATURED EVENT AUG. 11: DONATE BLOOD The Gulf Coast Regional Blood Center will host a blood drive at LaCenterra at Cinco Ranch from 1:30-4:30 p.m. Donors will receive a T-shirt and an ice cream voucher. LaCenterra at Cinco Ranch 2727 Commercial Center Blvd., Katy 832-364-3632 www.giveblood.org

JULY 27 LEARN ABOUT MARINE WILDLIFE Join Texas A&M Galveston Sea Life Center’s Sea Life facilities manager at the Maud Smith Marks Branch Library to learn about ongoing eorts to protect marine wildlife. The event is intended for adults, but children are welcome. Registration is required. 6:30-7:45 p.m. Free. Maud Smith Marks Branch Library, 1815 Westgreen Blvd., Katy. 832-927-7860. www.hcpl.net/events 30 LISTEN TO LIVE MUSIC Red dirt music artist Stoney LaRue will perform at Mo’s Place.

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Find more or submit Katy events at communityimpact.com/event-calendar. Event organizers can submit local events online to be considered for the print edition. Submitting details for consideration does not guarantee publication.

Your Katy and Fulshear Area Experts

Amy Lookabaugh MBA, Broker Associate, CLHMS 832.236.0699 amy@cincoranchrealtygroup.com cinco_ranch_realty_group

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Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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COMMUNITY IMPACT NEWSPAPER • COMMUNITYIMPACT.COM

TRANSPORTATION UPDATES $550M Katy Freeway TxDOT project to span three area counties

COMPILED BY ASIA ARMOUR

UPCOMING PROJECTS

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A $550 million proposed project to widen about 13 miles of the Katy Free- way, also known as I-10, is one step closer. The planned project will start at FM 359 in Waller County, passing through Fort Bend County and end at Mason Road in Harris County. In June and July, the Texas Depart- ment of Transportation conducted a hearing on the project, which aims to improve mobility and safety in the area. TxDOT ocials said they anticipate a nearly 40% increase in area trac between 2025 and 2045. During a July presentation, Lauren Munoz, a public involvement expert for the project, cited the rate of crashes in this area as higher than average for similar Texas highways, especially at Mason Road, Grand Parkway, Katy Fort Bend Road and FM 359. To improve capacity, the TxDOT project team suggests adding two lanes and two general-purpose lanes from FM 359 to Hwy. 90 and extending frontage roads from Pederson Road to Hwy. 90. TxDOT will also add exit and

WIDENING KATY FREEWAY Crash hotspots

A project aims to widen part of Katy Freeway to accommodate increased trac volume and improve safety, as multiple areas have had more vehicular crashes than other similar roadways in the state.

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ALL INFORMATION ON THIS PAGE WAS UPDATED AS OF JULY 8. NEWS OR QUESTIONS ABOUT THESE OR OTHER LOCAL TRANSPORTATION PROJECTS? EMAIL US AT KTYNEWSCOMMUNITYIMPACT.COM. West Ten Business Park connector The Texas Department of Transpor- tation will build a road connecting Commerce Parkway to the Katy Free- way feeder road. It will bisect a future business park, called West Ten, that will include two fast-food restaurants, a medical oce and a bank, though uses may change, city ocials said. On June 13, Katy City Council approved area signage and requested a reduc- tion to setbacks while TxDOT works to acquire right of way for the frontage road bordering West Ten. The park’s design is still conceptual. Timeline: TBD Cost: TBD Funding source: TxDOT

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entrance ramps from Pederson Road to Cane Island Parkway. TxDOT also proposed restriping from Hwy. 90 to Mason Road to add two lanes. TxDOT also suggested multimodal improvements, such as 10-foot side paths for bicycles and pedestrians from Pederson Road to Hwy. 90, as well as expanding the right of way where reconstruction or drainage is needed, such as 12 acres for a potential detention pond east of Marino Road. The next step in the implementation process is nalizing plans and curating

environmental impact documents for review. Because the project is state- and federally funded, TxDOT is required to assess the potential impacts on the environment in accor- dance with federal standards, which includes public outreach eorts. Pending the review, TxDOT will begin right-of-way acquisition in sum- mer 2023 and construction will start fall 2023. The duration of the work has yet to be determined, but George said it will be completed in three or four phases, moving east to west.

From RAIN DELAYS to PAR-TAYS our cross creek Fulshear location is nearing completion and we are excited to announce the inaugural opening is planned for mid August. Continue following for more updates and pictures. We’re excited to tee it up! You can reach management via Michael@theperfectroundgolf.com for further inquiries.

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KATY EDITION • JULY 2022

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COMMUNITY IMPACT NEWSPAPER • COMMUNITYIMPACT.COM

CITY & COUNTY

News from Katy, Harris County & Fort Bend County

NUMBER TO KNOW bond to fund Harris County roads, parks and public safety could see November ballot $1 billion MEETING HIGHLIGHTS HARRIS COUNTY Members of the Harris County Election Commission voted unanimously to name Clifford Tatum, the former general counsel for the U.S. Election Assistance Commission, as the county’s new elections administrator at a July 5 meeting. He will run elections following the departure of former Elections Administrator Isabel Longoria, who resigned after issues in the March primaries. Chief Director of Voting Beth Stevens will serve as interim elections administrator until Tatum takes the role. FORT BEND COUNTY At a June 28 Fort Bend County Commissioners Court meeting, officials with Fulshear Lakes—a master-planned community with 558 acres of mixed- use property in Fulshear—agreed to pay Fort Bend County $98,000 for its portion of improvements to Pool Hill Road, a street adjacent to the development. Homes in this community will begin preselling in late 2023, according to officials. Katy City Council meets the second and fourth Mondays of the month at 6:30 p.m. The next meeting is July 25 at 910 Ave. C, Katy. 281-391-4800. www.cityofkaty.com Harris County Commissioners Court usually meets Tuesday mornings twice a month. The next meeting is Aug. 2 at 1001 Preston Ave., Ste. 934, Houston. 713-755-5000. www.harriscountytx.gov Fort Bend County Commissioners Court meets at 1 p.m. the first, second and fourth Tuesdays each month. The next meeting is July 26 at 401 Jackson MEETINGS WE COVER

Harris County officials consider $1B November bond

BY RACHEL CARLTON

The plan presented to Harris County Commissioners Court on June 28 includes $700 million for roads and transit, $200 million for parks and $100 million for public safety. HARRIS COUNTY BOND BREAKDOWN

HARRIS COUNTY Commissioners are considering a potential $1 billion bond issue for Harris County in the November election to fund roads, parks and public safety. County Engineer Milton Rahman presented a breakdown of the preliminary plan at the June 28 Commissioners Court meeting. The preliminary plan proposes allocating a total of $700 million for roads and transit, $200 million for parks and $100 million for public safety. A $1 billion bond would increase property taxes by $27 a year for residents with homes valued at around $314,000, said Daniel Ramos, executive director of the office of man- agement and budget. But rising property values coupled with the county paying its bonds at “a pretty prestigious rate” means issuing a bond could maintain rather than increase the tax rate, Ramos said. While there has not yet been discussion on specific programs, Rahman outlined where funds could go. Rahman said $300 million in flexible road funds would support road maintenance, rehabilitation and safety. Another $100 million would rehabilitate older roads in poor to fair condition, acting as a preventive measure against road reconstruction, he said.

General road bonds Neighborhood drainage Parks and trails Road rehabilitation Public safety Vision Zero Multimodal transit

1

2

3

4

$1 BILLION

5

6 7

SOURCE: HARRIS COUNTY COMMISSIONERS COURT/COMMUNITY IMPACT NEWSPAPER

Apart from addressing poor road conditions, bond funds would have a flood risk reduction component with $200 million going toward improving street drainage in neigh- borhoods. The $50 million for multimodal transportation would go toward expanding alternatives to driving, with bike lanes, sidewalks and trails along county roadways.

Council rezones land at southern city limits

Fort Bend County Fair introduces 2022 musical lineup

Fort Bend County Fair and Rodeo entertainment lineup Sept. 23: Giovannie and the Hired Guns Sept. 24: Kevin Fowler Sept. 25: Secretto Sept. 28: Carson Jeffrey Sept. 29: Jon Stock Sept. 30: Shenandoah Oct. 1: Sammy Kershaw Oct. 2: The Bellamy Brothers SOURCE: FORT BEND COUNTY FAIR ASSOCIATION/ COMMUNITY IMPACT NEWSPAPER

BY ASIA ARMOUR

KATY The rezoning of just over 20 acres of land from a single-family residential district to a commercial district was approved by Katy City Council at a June 27 meeting. The tract of land, located at the intersection of Spring Green Bou- levard and Crossover Road, is the most southern point in the city, City Planner Rachel Lazo said. Officials said the change is meant to welcome businesses like doughnut shops or cleaners for residential use.

BY ILANA WILLIAMS

FORT BEND COUNTY The music lineup for the 2022 Fort Bend County Fair and Rodeo was announced in a June 21 Fort Bend County Fair Association release. From Sept. 23-Oct. 2, there will be eight acts representing Texas’ music scene, including traditional country music and Latin music. Fair tickets, which include concerts, are online at www.fortbendcountyfair.com.

St., Richmond. 281-342-3411. www.fortbendcountytx.gov

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11

KATY EDITION • JULY 2022

2022

REAL ESTATE EDITION

REAL ESTATE DATA 2021-22 Katy area

Data on the real estate market in the Katy area

COMPILED BY LAURA ROBB

77094 77441 77449 77450 77494 77493

Real estate market at a glance Much of the Katy area continues to experience lower housing inventory this year compared to last year. Of the six area ZIP codes, 77094 saw the biggest increase in average home sales price from June 2020-May 2021 to June 2021-May 2022 with a 19.25% increase. Meanwhile, all ZIP codes saw decreases in the average number of days a home is on the market compared to the same time in the last year. SOURCES: FREDDIE MAC, CHARLIE RUSSO, REMAX SIGNATURECOMMUNITY IMPACT NEWSPAPER

529

6

99 TOLL

10

1093

N

Number of homes sold

Average home sales price

June 2020-May 2021

June 2021-May 2022

June 2020-May 2021

June 2021-May 2022

77094

77450

$325,477

$301,861 $287,286

+19.25%

+5.07%

$388,147

77441

77493

$401,985

$295,188

+10.33%

+9.29%

$443,525

$322,623

77449

77494

$212,770

$322,275 $317,194

+7.77%

+1.6%

$229,298

77094

77441

77449

77450

77493

77494

National mortgage rate data Mortgage rates steadily declined early in the pandemic with the 30-year xed-rate mortgage dropping to as low as 2.65% in January 2021. Rates have since increased, spiking to their highest point since 2009 as of early May.

Average days on market

June 2020-May 2021

June 2021-May 2022

30-year xed-rate mortgage

15-year xed-rate mortgage

5.27%

5%

4.51%

3.72%

4.52%

4%

2.65% 3.22%

3%

3.99%

3.16%

2% 0 January 2019

2.16%

2.43%

77094

77441

77449

77450

77493

77494

January 2020

January 2021

January 2022

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COMMUNITY IMPACT NEWSPAPER • COMMUNITYIMPACT.COM

RENTAL MARKET

Market snapshot Apartment rents are rising locally, though not as fast as they were in 2021.

Local rental rates continue climb Rents have continued to rise in the Greater Houston area in the rst half of 2022, driven by an to $1,452 in November 2021, they have increased to $1,492 in May. “We all knew this was going to slow down, temper itself back to more normal times,” McClenny said. McClenny said the Houston BY SHAWN ARRAJJ & LAURA ROBB

APARTMENT REPORT BREAKDOWN

Katy area Greater Houston area

Recently completed: 2,674 Under construction: 2,260 Proposed: 3,320

Recently completed: 22,340 Under construction: 14,498 Proposed: 33,996

$2,000 $1,500 $1,000 $500 $0

$1,492

$1,464

$1,452

$1,418

inux of new residents to the area and a single-family home market that is pushing more people to consider renting. Those trends can be seen in the Katy-area data from ApartmentData. com—which spans from north of the city of Katy through south of the Cinco Ranch area, and from eastern Brookshire to Hwy. 6. Between February and May of 2022, average monthly rent prices in the Katy area rose 1.9%. That compares to an average rent price increase of 2.66% across the Greater Houston area over that time. However, the rate at which rents have been increasing so far in 2022 has been slower than the pace seen in 2021, ApartmentData.com Presi- dent Bruce McClenny said. Although average rents in the Katy submarket jumped from $1,232 in February 2021

$1,311

$1,233

$1,201

$1,179

metro area is still more aordable than Dallas and Austin. Houston’s average rent hit $1,233 in May, which compares to $1,475 in Dallas and $1,648 in Austin. San Antonio has the cheapest average rent of the four cities at $1,193, according to ApartmentData.com. “That’s, in a relative sense, more positive for people that live here and want to live here,” McClenny said. Moving forward, McClenny said prices are likely to continue to rise. If rental rates were to drop, it likely would not be for desirable reasons, he said, giving job losses as an example. McClenny said Texas generally does a good job of adding apartment supply, but it still is not adding sup- ply fast enough to bring rents down.

$1,155

$1,092

MAY 2021

AUG. 2021

NOV. 2021

FEB. 2022 MAY 2022

100% 96% 92% 88% 84% 80% 0%

88.3% 90.9% 91.3% 90.9% 90.6% 90.1% 91.7% 91.7% 91.5% 91.4%

SOURCE: APARTMENTDATA.COMCOMMUNITY IMPACT NEWSPAPER

“I don’t think it could add supply fast enough to make a dierence this year and next,” he said. According to McClenny, six- month apartment rental trends are

generally a good predictor of what the next six months could bring to the market. He also said that the market will probably settle down to some degree in 2023.

13

COMMUNITY IMPACT NEWSPAPER • COMMUNITYIMPACT.COM

PEOPLE Gage Mueller Solar energy specialist, ADT Solar BY LAURA ROBB

Gage Mueller, a solar energy specialist at ADT Solar, has experience in the solar industry as both a customer and a service provider. After installing solar panels on his own house in 2017, Mueller’s interest in solar grew until he decided to pursue a career in the industry in 2020 with SunPro—now known as ADT Solar, a residential and commercial solar panel company. In 2020, ADT Solar installed panels which produced more than 43,600 kilowatts of solar energy in Texas, according to Solar Power World. Answers have been edited for length and clarity.

Gage Mueller said solar panels can increase a home’s value without increasing property taxes. (George Wiebe/Community Impact Newspaper)

STATE stats

WHAT QUESTIONS SHOULD PEOPLE ASK WHEN CONSIDERING SOLAR? Homeowners should ask: ‘Do I qualify for the tax credit?’ They should call their [certied public accountant], because the solar sales guy will say, ‘The government will give you 26%.’ But it’s not true—you have to qualify. The other question that I tell people to get answered is: How will this aect your homeowner’s insurance? ... Anything attached to the dwelling is covered by homeowner’s insurance. Your premium may go up—but you need to know that ahead of time to

make an informed decision. Once solar is up, there’s nothing you can do. DOES SOLAR AFFECT APPRAIS ALS AND PROPERTY TAXES? Most of the time, solar increases the value of your house—which is good, but you don’t pay a higher property tax. If your house appraises for $200,000 today and you put $20,000 worth of solar on it, then it appraised for $220,000. Your tax liability is still $200,000—because $20,000 is solar renewable energy and qualies for an exemption. You gain the value in the appraisal, but not in property taxes.

According to the Solar Energy Industries Association, the national trade association for the solar industry, Texas was ranked number one in the nation for solar panel use in the rst quarter of 2022. SEIA data predicts Texas will lead the nation in growth in the solar industry over the next ve years.

10,088 jobs in the

of the state’s electricity is solar

3.75%

solar industry

506 solar companies 202 installers and developers

85 manufacturers

219

other

SOURCE: SOLAR ENERGY INDUSTRIES ASSOCIATIONCOMMUNITY IMPACT NEWSPAPER

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COMMUNITY IMPACT NEWSPAPER • COMMUNITYIMPACT.COM

GUIDE

Local businesses oer home improvement tips

2022 REAL ESTATE EDITION

HOME IMPROVEMENT AND MAINTENANCE

ASK A PAINTER

Whether the paint is going inside or outside of the house, Dan Johnson, owner of CertaPro Painters, advises homeowners to use quality paint.

COMPILED BY ILANA WILLIAMS

sheen, [known as] the shininess to the nish. Sheen makes it easier for the wall to be cleaned. HOW DO YOU HELP CUSTOMERS FIND QUALITY PAINT? We use whatever paint the homeowners would like. We will ... ask them questions like, ‘Do you plan on staying in the house long-term?’, ‘What’s your budget?’ and, ‘Do you have small children that might make a mess on the walls?’ to help determine what quality of paint is best. WHEN IS IT BETTER FOR A PAINTING COMPANY TO PAINT A HOUSE RATHER THAN THE HOMEOWNER? It depends on the skill sets of the homeowners and the tools that they have. Some homeowners are extremely handy and enjoy that type of thing. Plus, they need to have the tools to be able to do it.

WHAT DO HOMEOWNERS NEED TO CONSIDER BEFORE THEY GET THEIR HOMES PAINTED? Exterior painting is more important than interior because it provides [ultraviolet] and water protection for the house. Interior painting tends to be more for aesthetics. When painting the interior, a higher quality of paint will have better color and be easier to clean. WHAT SORT OF PREPARATIONS ARE NEEDED BEFORE STARTING A PAINTING PROJECT? Color choice is a big consideration. If you’re going to do an exterior color change, you have to get approval [from the homeowners association], which can take [from] 24 to 48 hours to several weeks. Quality of paint is another factor [to consider] before getting started. Something that’s often overlooked is

ASK AN HVAC TECHNICIAN

In the Texas heat, keeping a cool house is important. Kim Svetlik, co-owner of True Fix A/C & Heating, provides ways to keep heating, ventilation and air conditioning—or HVAC—units in good condition for the hot summer days.

WHAT ARE COMMON REASONS FOR POOR INDOOR AIR FLOW? Shutting vents is not a good idea because you are supposed to have air ow through the home. The way a technician puts in the units and ductwork needs to have an even ow throughout the house. HOW LONG SHOULD A HOMEOWNER WAIT TO REPLACE THEIR UNITS? People try to replace parts one at a time, but when you put old parts with new ones, it doesn’t extend the unit’s life. Quality units can work for up to eight years.

WHY IS MAINTENANCE IMPORTANT? If [homeowners] don’t keep up with the necessary things that need to be cleaned and changed, it will shorten the life of the equipment or cause a malfunction. We do not recommend cleaning air ducts often, but we replace ductwork that’s very old or suered damage. Instead [of the ductwork], the lters are what’s important to get changed often. Some people change their lters every month, which is more often than you have to. If you change your lters at least quarterly, then your house breathes better.

Dan Johnson Owner CertaPro Painters 5608 Fifth St., Katy 346-257-2982 www.certapro.com/katy-tx

Kim Svetlik Co-owner True Fix A/C & Heating 25218 Lakeview Road, Katy 281-392-9334 www.truexairconditioning.com

GEORGE BUSH DR.

5TH ST.

N

N

WEATHER READY AT HOME In addition to preparing for disasters by stockpiling food and water, homeowners can prepare themselves and their homes for severe weather events through home maintenance and repairs.

Measures that can be taken:

Renovations: while updating appliances, ooring, walls and windows

Construction: during the design phase of a new home or addition

Now: immediately and are renter-friendly

Windows & doors

R C Plants Trees can protect

Walls & oors

Roofs

Insulating pipes with foam sleeves can protect them from extreme temperatures. N R C

R C

N R C

Weather stripping can protect doors and windows from rain and external moisture.

Overhanging roofs can shade windows from the sun while still allowing indirect light in.

sunny sides of buildings. Native trees are best adapted to the home’s climate.

R C

R C

N R C

Using mold-resistant insulation can improve air quality, especially in homes that are humid or prone to ooding.

Solar panel installation can be paired with a smart inverter for optimal energy use.

Thermal curtains can protect against both extreme heat and cold while conserving energy.

SOURCES: HOUSTON ADVANCED RESEARCH CENTER, TEXAS STATE ENERGY CONSERVATION OFFICECOMMUNITY IMPACT NEWSPAPER

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KATY EDITION • JULY 2022

CONTINUED FROM 1

According to the National Association of Realtors, six months of housing supply is associated with moderate price appreciation, while fewer months’ supply pushes prices up faster. While local inventory is still historically low, July data shows an uptick—indicating a transition to a more balanced market, according to local Realtors. TRANSITIONING MARKET North Katy Southwest Katy Southeast Katy MONTHS OF INVENTORY KATY AREA

over the last two years and that is due to supply and demand issues.” Though RE/MAX broker Charlie Russo, who works primarily in the West Houston and Katy area, antici- pates prices will begin to steady, data from Texas A&M University’s Texas Real Estate Research Center shows the housing market has grown more expensive in the Katy area over the last year with the average price of single-family homes rising 27%-32% between April 2021 and April 2022, depending on the area of Katy. Texas Real Estate Research Center data shows the Katy area’s housing inventory remains at around the low- est it has been since 2015 with a 0.5- to 0.7-month supply within the areas of Katy in 2022. Russo said when housing inventory sinks below three months in the Katy area, it represents a “hyper-seller’s market.” Katy’s low inventory goes hand in hand with rising home costs, Wauhob said. According to data from the Texas Real Estate Research Center, in the Katy-area north of Katy Freeway, the average single-family housing price grew from $257,505 in May 2021 to $322,759 this May. The Katy-area southeast of Grand Parkway saw the average home price increase from $394,883 to $475,630 in the same time frame. And in the Katy-area south- west of Grand Parkway, the average home price grew from $450,121 in May 2021 to $582,588 this May. Homebuyer demand in the area, however, remains strong, experts said—especially within certain Ful- shear and Katy-area neighborhoods, such as the Sunterra, Cross Creek West and Tamarron master-planned communities, which will add more than 15,000 new homes between the three developments by 2031.

Coventry Homes Regional Presi- dent Paul Blackburn said the company favors building homesites in the Katy communities of Cane Island and Fire- thorne, citing the stability and pro- jected growth of the master-planned community market. “If there’s ever going to be a kind of softening of the market, the mas- ter-planned communities will con- tinue to sell,” he said. Rising rates Low housing inventory and high demand present extra hurdles for potential homebuyers, and some have either been unable or unwilling to win a bidding war, experts said. Others have simply been priced out. “From 2017 through 2022, we have had historically low interest rates,” Russo said. “Then all of a sudden, rates have started to increase. [In coming months] we are going to see sales falling down. The prices aren’t pulling back, even though interest rates are going up.” The national 30-year xed-rate mortgage hit 5.3% on July 7, according to the Federal Home Loan Mortgage Corp., known as Freddie Mac. While that rate is still low compared to his- toric numbers, rates have gone up almost 3% since January 2021, when the rate hit 2.65%. That means at a 5.3% 30-year xed mortgage rate and a home price of $475,630, a homeowner with a 20% down payment would need to pay $2,113 per month on their mortgage, according to nancial technology company Smartasset.com’s mortgage calculator. In January 2021, that same homeowner would have needed to pay $1,533 per month on their mortgage. Meanwhile, the demand for sin- gle-family rentals across the Greater

5

4

3

0.8 1.2 0.5

2

1

0

MAY

2018

2019

2020

2021

2022

SOURCES: TEXAS REAL ESTATE RESEARCH CENTERCOMMUNITY IMPACT NEWSPAPER

Houston area reects that growing homebuying hesitation. A June 15 report from the HAR showed a near 25% increase in single-family home leases in May compared to May 2021. A 2022 Consumer Sentiment and Home Aordability Survey from the HAR released in May revealed of 600 survey respondents across the Greater Houston area, 79% of those who stopped searching for a home said they did so because they were priced out of the market, while 62% stopped searching because there was not enough inventory. This comes as the HAR reported the median monthly price for sin- gle-family rentals in the Houston area

went up 8.1% year over year to $2,000 per month. Investment rms have also—in the last two years—increasingly been buying land and properties to rent instead of sell, according to property data from the Harris County Appraisal District. As of June, nearly 7,000 homes in Harris County are owned by the same ve National Rental Home Council members and their subsid- iaries: American Homes 4 Rent; First- Key Homes, whose parent company is Cerberus Capital Management; Prog- ress Residential; Invitation Homes; and Tricon Residential. Additionally, build-to-rent com- munities—or new single-family rental

16

COMMUNITY IMPACT NEWSPAPER • COMMUNITYIMPACT.COM

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