KATY, TX (Covering Katy News) – A residential developer has purchased more than nine acres of prime land near the intersection of Colonial Parkway and Park West Green Drive, a short distance from the Katy Freeway and the Grand Parkway.
The site is on Colonial Parkway near the intersection of Park West Green Drive. Heights Colonial LP, a City Choice Realty company, purchased it.
Glenn Dickerson and Brad LyBrand of NewQuest Properties represented the seller, Katy Promise Joint Venture, which has additional development sites on the market.
"It was only listed for six weeks before we had a contract, Dickerson said. "We had several offers because it's in the middle of Katy's growth."
The NewQuest team is marketing adjacent land for the joint venture, an 18-acre treed site with frontage along Interstate 10 and Colonial Parkway.
"Due to the growth of Katy and the quality of schools, the area is a magnet for residential development," Dickerson said.
NewQuest has yet to provide any further information about the type of residential construction that will be located on the land.