· Not in L.A.
A major segment of the Grand Parkway has opened, between U.S. 59 and FM 1464, according to the Fort Bend County Toll Road Authority.
The approximately eight-mile stretch opened Feb. 27, according to the department, and takes the project one more step toward completion.
The Fort Bend County Toll Road Authority has set tentative dates for the rest of the stretch under its control:
- US 90A/FM 1464 to Harlem Road to be completed mid-March 2014
- Harlem Road to West Bellfort to be completed mid-April 2014
- West Bellfort to Westpark Toll Road/FM 1093 to be completed late April 2014
The highway is intended to be a third outer loop around Houston, and, although it is only partly constructed, it has sparked multiple real estate development deals. Most recently, a real estate developer purchased more than 40 acres to develop a mixed-use site.
In February, Houston’s Grand Parkway Transportation Corp. announced it will sell another $733 million of bond-anticipation notes to help finance the massive toll road project. This is in addition to a $2.6 billion municipal bond sale in July 2013.