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Area & Development Info - Westway Park
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PROJECT:
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Westway Park is a 150-acre, master-planned development located at the intersection of the Sam Houston Tollway and Clay Road, between Interstate 10 (the Katy Freeway) and U.S.290 (the Northwest Freeway).
Westway Park’s location and superior accessibility make it the ideal office location for the growing metropolitan market. The Park is well suited for a variety of land uses including office, service/technology facilities, retail, hotel and restaurants.
Westway Park is centrally located in the Sam Houston Tollway, or “Techway” corridor, one of the fastest developing technology corridors in the country. Major owners/tenants in the Park include Cameron, BJ Services Company USA, Invensys, Stewart Title, Nextel, P&O Nedlloyd, Seismic Exchange and St. Paul Travelers Co. Insurance. The Houston Apartment Association has begun development of their headquarters building and Dienna Nelson Augustine is constructing a new 144,000 square foot office building.
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| AREA DEVELOPMENT: |
A number of other corporate facilities are located in the immediate area. These include Mariner Healthcare, Hanover Compressor, Stolt Offshore, Paragon Engineering, Lennar Homes Corporation and Allstate Insurance. The Y.M.C.A. of Houston is within walking distance of the Park.
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ACCESSIBILITY:
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The Sam Houston Parkway (Beltway 8) system is a circumferential urban tollroad and expressway. The Tollway connects U.S. 59 South, Interstate 10, U.S. 290, Interstate 45 North, Hardy Toll Road and U.S. 59 North providing superior high-speed access to the greater Houston metropolitan area. The cities’ two major airports as well as other major employment centers, including the Energy Corridor, Galleria, Greenspoint and Westchase, are highly accessible via these connections. Service roads also provide additional access for Clay Road to Interstate 10 and U.S. 290.
Clay Road is the most significant major thoroughfare intersecting the Tollway between U.S. 290 and Interstate 10, running from north of Katy and eastward across the county towards U.S. 59 North. The four-lane thoroughfare is a key access to Gessner Road and U.S. 290 to the east, and State Highway 6, Cullen Park, and the high quality residential neighborhoods of West Houston to the west.
The Clay Road full ramp intersection is the primary access point between U.S. 290 and Interstate 10.
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MAJOR THOROUGHFARE FRONTAGE :
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Sam Houston Tollway (West Belt) 3,200 + feet Clay Road
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TRAFFIC COUNTS:
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Over 156,000 vehicles travel the Tollway and approximately 32,500 vehicles travel on Clay Road each day.
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UTILITIES:
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Westway Park is in the City of Houston, which provides high density capacity utilities. Water distribution and wastewater collection lines are located within public street rights-of-way or an easement adjoining each site. Center Point Energy provides electrical power service. Center Point Energy/Entex provides natural gas. Southwestern Bell Telephone Company provides telephone service. Fiber optic service is available in the Park. In addition to Southwestern Bell, other local fiber providers in the area include Time Warner, Level 3, and Metro Media Fiber Networks.
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SCHOOL DISTRICT :
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Cypress Fairbanks Independent School District
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TAXES:
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Westway Park is located within the taxing jurisdictions of Harris County, the City of Houston and Cypress-Fairbanks ISD.
The 2006 tax rate per $100 of assessed valuation for Westway Park is:
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Harris County/City of Houston $1.41
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Cypress Fairbanks Independent School District $1.65
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Total Combined Tax Rate $3.06
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Tax abatements have been granted in this area by all of these taxing jurisdictions.
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RESTRICTIONS:
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Westway Park is subject to protective covenants and development guidelines that ensure high quality development and protection for the capital investments in the Park. The covenants establish minimum standards for land use, building materials, landscaping, signage, and other similar matters.
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FLOOD PLAIN :
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No portion of Westway Park is located within the 100-year flood plain, as determined by the Federal Emergency Management Agency (FEMA) or the TSARP maps.
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DRAINAGE:
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Sites in Westway Park drain via underground storm sewers to common detention areas designed to serve the entire development.
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EASEMENTS:
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Typical utility easements exist along the perimeter boundaries of the Property.
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DEMOGRAPHICS:
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The population within 10 miles of Westway Park is estimated to be 1,165,355, and is expected to grow by almost 10% over the next 5 years. The estimated number of households is 435,923 and is expected to grow by over 9% over the next 5 years. (Source: Claritas, Inc.)
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