FM 1093 & Peek Road Land Site
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FM 1093 & Peek Road Land Site +/- 11.5 ACRES OUT OF 25.65 K A T Y , T E X A S Y A W K R A S P . P D E N E A K R R G D 25.65 ACRES . FM 1093 FM 1093 & PEEK RD LAND SITE Prime Multifamily / Seniors Housing Site AERI A L OVERVIEW Barker Cypress N 4 5 4 Colonial Pkwy 7 3 1 10 2 6 3 Kingsland Blvd 1 2 Falcon Point Mason Rd Golf Course Cinco Ranch Golf Club at Developments High School Cinco Ranch 1 Vista - Reserve at Grand Parkway - 87 Ac 2 KBR Campus - 1 million SF/5,000 jobs 4 3 Interfin - 193 Ac (including 80 Ac Business Park) 4 Kickerillo/Interfin - 114 Ac 5 99 Willow Fork Golf Course Retail Cinco Ranch 1 The Shops at Bella Terra Home Values range 2 Grand Corners - future development $170,000 - over $1 million 3 Seven Meadows Shopping Center (HEB, Palais Royal) 4 La Centerra (Ann Taylor Loft, Perry’s Steakhouse) 5 Village Center at Cinco Ranch (Super Target) Fry Rd 6 Katy Mills Mall (Bass Pro Shops, AMC Theatres) 3 Meadowbrook 7 Simon Mall (proposed 1.1 million SF; 2013 construction) Farms GRAND LAKES Golf Course SUBDIVISION Seven Lakes Hospitals High School SEVEN MEADOWS 1 Memorial Hermann Katy SUBDIVISION 2 2 St. Luke’s Hospital - future development WESTPARK TOLLWAY 3 Christus St. Catherine 1 4 Texas Children’s Hospital - under construction FM 1093 & FORT BEND WESTPARK TOLLWAY 5 Methodist Hospital Katy - under construction PEEK ROAD SITE 6 Methodist Hospital Katy - future development FM 1093 & PEEK ROAD LAND SITE Katy, TX INVESTMENT HIGHLIGHTS Property Description Median All Owner-Occupied Housing Value for the area within The Property, consisting of +/- 11.5 acres of land, is located 25 a 3 mile radius of the Property are $143,467 and $246,906, miles west of Downtown Houston in Katy, Texas, the second-fastest respectively. Approximately 80% of these homes have been built growing residential community in the United States. The site is in the last 10 years. situated at the northwest corner of FM 1093 and Peek Rd., just east of the intersection of SH 99 (The Grand Parkway) and The Westpark Retail Tollway, the two largest thoroughfares in the West Houston/Katy Various new and proposed shopping centers are in the immediate area. This location places the Property at the center of various vicinity of the subject property. These include The Shoppes at Bella new master-planned residential neighborhoods including Cinco Terra, The Village Center at Cinco Ranch, Seven Meadows, and Southwest, Grand Lakes, Seven Meadows, Westheimer Lakes, Grand Corners. Retail connection is expected to break ground on Parkway Lakes, Grand Mission, and Westpark Lakes. The Property Grand Corners, a 398,516 square foot shopping center at the also benefits from its location inside Katy Independent School northeast corner of FM 1093 and the Grand Parkway later this district, excellent demographics, nice visibility along FM 1093/ year. Grand Corners is scheduled for completion by first quarter The Westpark Tollway, proximity to various retail centers including 2010. Moody Rambin continues construction on their Super The Village Center at Cinco Ranch, The Shops at Bella Terra, and Wal-Mart anchored center at the southwest corner of the Grand La Centerra, and its accessibility to major employment centers. Parkway and the Westpark Tollway. Other notable tenants include Best Buy, Kohl’s, PetsMart, Sports Authority, Ross Dress for Less, Explosive Growth and Marshall’s. Seven Lakes shopping center includes a Home Over the last decade the Katy area has experienced rapid growth. Depot and the largest HEB in the Greater Houston Area. Seven The success of master-planned communities such as Cinco Ranch Lakes shopping center is less than 2.5 miles north of the subject and increases in infrastructure like the construction of the Westpark property along the Grand Parkway. Village Center at Cinco Tollway and the recent reconstruction of the Katy Freeway Ranch, La Centerra, and Katy Mills Mall are all in close proximity can largely be credited for this vast expansion westward. The to the Property, all just north or the Property and easily accessible construction of new single-family neighborhoods, business parks, via The Grand Parkway. hospitals, entertainment venues, and shopping centers have also helped transform Katy from a small Texas Coastal Prairie town Golf Courses to what it is today, and this shows no sign of slowing. All of this The West Houston/Katy area is home to several entertainment development has led Katy to taking home an impressive 2nd place venues, including several championship golf courses nestled among ranking in Business Week’s “America’s Biggest Boomtowns”, a the new and growing residential neighborhoods. Meadowbrook study performed jointly between Business Week and The Gadberry Farms Golf Course, located in the Seven Meadows, is less than 2 Group released in February 2009. miles from the subject property. The Golf Club at Cinco Ranch is located at the center of the Cinco Ranch master-planned community Demographics along Cinco Ranch Boulevard. Willow Fork Golf Course is located The Property benefits from some of the strongest demographics in between South Mason Road and South Fry Road along Westheimer the Greater Houston Metropolitan Area. The areas within a 1 mile Parkway, and Falcon Point is just southeast of Katy Mills Mall near radius, 3 mile radius, and 5 mile radius of the subject property the intersection of Interstate 10 and the Grand Parkway. had estimated population growths of 386.96%, 229.33%, 115.99%, respectively from 2000 to 2009. These same areas Katy ISD – TEA Recognized District are expected to have additional growth of 41.72%, 36.30%, Katy Independent School District encompasses 181 square miles in and 28.17%, respectively over the next 5 years. The majority of the West Houston/Katy area, stretching from the Energy Corridor this growth can be attributed to the vast development of master in the east to a few miles west of the City of Katy along Interstate planned single family neighborhoods such as Cinco Ranch, Cinco 10. Katy ISD currently has 51 schools, all of which are considered Southwest, Seven Meadows, Grand Lakes, Westheimer Lakes, Academically Acceptable or better by the Texas Education Parkway Lakes, Westpark Lakes, Lakemont, and Grand Mission Agency. 2008 TEA Accountability Ratings show 16 Katy ISD by developers such as Newland Communities, David Weekley, schools as Exemplary, 19 as Recognized, and 11 as Academically KB Homes, and Newmark Homes. The 2009 estimated number Acceptable. For the 2008-2009 school year Katy ISD employed a of households within 1 mile, 3 miles, and 5 miles of the Property staff of approximately 7,500 individuals and had a total enrollment is 1,669, 13,010, and 36,578, respectively. These numbers are of approximately 57,000 students. The average teacher salary for expected to increase by 40.62%, 35.6%, and 28.02% to 2,347, the 2007-2008 school year was a strong $48,385. The subject 17,641, 46,826, respectively by 2014. Moreover, the 2009 property is located just inside Katy ISD’s southern boundary of FM Estimated Annual Household Income and the 2009 Estimated INVESTMENT HIGHLIGHTS (CONT.) 1093 and is zoned to Creech Elementary (Exemplary), Beck Junior Thoroughfares High (Recognized), and Seven Lakes High School (Recognized). The Property benefits from its proximity to the two largest thoroughfares in the West Houston/Katy Area. The Grand Parkway, Healthcare & Office directly west of the Property, is Houston’s third outer loop that when Since 2005 the West Houston/Katy area has experienced completed will encircle the entire Greater Houston Area very much approximately $881,000,000 in capital investment by healthcare like Beltway 8 closer in. The Grand Parkway provides easy access institutions, translating into over 2 million square feet of hospital to Interstate 10 to the north and State Highway 59 to the south. The and specialty care facilities and approximately 2,645 new jobs Westpark Tollway is a limited-access toll road serving west Houston, to the Katy Area. Memorial Hermann, Christus St. Catherine, Harris County, and northeastern Fort Bend County. Completed in Methodist, Texas Children’s and St. Luke’s have all recently built 2005, the Westpark Tollway spans approximately 15 miles from or are in the process of developing new hospitals in the West Post Oak Boulevard in Houston’s Uptown District to west of SH Houston/Katy area. Memorial Hermann Katy Hospital is located 99 (The Grand Parkway), where at that point it turns into the Fort at the northwest corner of Interstate 10 and the Grand Parkway, Bend Westpark Tollway. The Westpark Tollway runs parallel and Christus St. Catherine is located on S. Fry Rd near Interstate 10, south of Westheimer Road and provides easy access to Beltway Methodist and Texas Children’s are currently under construction 8 and Highway 59 as well as major employment centers such as along Interstate 10 between Greenhouse and Barker Cypress, and The Westchase and Uptown Districts, The Galleria, and Greenway St. Luke’s is expected to break ground at the southwest corner of Plaza. Other major thoroughfares easily accessible via the Grand the Grand Parkway and Kingsland Boulevard later this year. Parkway include FM 1093, South Fry Road, Westheimer Parkway, Cinco Ranch Boulevard, Highland Knolls, Mason Road and KBR has chosen Trammell Crow Company as the developer of Interstate 10 (The Katy Freeway). The Katy Freeway has just gone it’s new West Houston Campus, a 910,000 square foot office through a massive redevelopment in which the 23 mile stretch of compound expected to mirror ConocoPhillips’ and BP’s locations Interstate 10 from west of the city of Katy to Loop 610 has been in the Energy Corridor about 10 miles to the east in size.