New Theme Park Construction Begins

AstroWorld times six: Construction on new Houston theme park begins — and its size is already expanding

One can almost hear the roar of a roller coaster on the New Caney property where Grand Texas Theme Park will soon sprawl . . . but don't get ahead of yourself — it's just the hum of bulldozers

Site work is already underway on the heavily-wooded land off of Highway 59 and FM 242, according to the Business Journal. After several years of looking for the right spot, investors finalized the purchase from IBC Bank as previously reported by CultureMap.

"I'm the guy that's remembered as the one that tore down the Texas Cyclone. I'd like to leave a different legacy, actually."

What exactly will take form over the next two years remains to be determined. Chuck Hendrix, a former AstroWorld general manager who will run Grand Texas under the banner of Innovation Leisure Partners, told the HBJ that the park's amenities — which already include a water park, several hotels and a petting zoo — are "expanding daily."

"I'm the guy that's remembered as the one that tore down the Texas Cyclone," Hendrix said in an interview with KPRC. "I'd like to leave a different legacy, actually."

Brae Burn Construction Company has been selected to work on the theme park's next phase, which will break ground this fall for an anticipated completion in the spring of 2015. Dallas-based GHA Architects, led by principal Bob Runyon, is the designer designer on the project.

"We have enough acreage to keep us busy for a while," Hendrix said of the 640-acre plot — about six times the size of AstroWorld's footprint. Construction will take place in phases over the next 10 years.

Grand Texas Theme Park is slated to open in New Caney in the spring of 2015.

Grand Texas Theme Park coming soon with rollercoaster

GrandTX.com

Grand Texas Theme Park is slated to open in New Caney in the spring of 2015.

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bang for your buck

These are the 6 most affordable ZIP codes for Houston renters

Facebook / City of Bellaire, Texas

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Trying to afford buying a home in Houston is difficult enough with current mortgage rates, and doubly so if you're already paying high rent on an apartment or a house. But there are six Houston ZIP codes where renters can get the most bang for their buck, according to a new study by financial services company CashNetUSA.

To find the most affordable ZIP codes to rent in the U.S., analysts compared median household incomes by ZIP code to the average annual rent costs using the Zillow Observed Rent Index. ZIP codes where the average annual rental costs required the lowest percentage of median household income were considered the "most affordable."

Two Houston-area ZIP codes specifically stood out in CashNetUSA's ranking of the most affordable ZIP codes for renters in America: 77401 in Bellaire (No. 9) and 77094 in the Energy Corridor (No. 12).

According to the study's findings, the average monthly cost of a rental in Bellaire comes out to $2,401.25, and the median annual income of a Bellaire household is $210,577. Analysts then calculated that the annual rent of a home in the Bellaire ZIP code only takes up 13.68 percent of a household's median income, which is the ninth-lowest in the nation.

But as Houstonians know all too well, Bellaire residents aren't exactly struggling to pay their rent, seeing as they live in one of the wealthiest places in America.

Meanwhile in Houston's 77094 ZIP, annual rent costs only represent 13.88 percent of a household's median annual income. The area – which encompasses the Kingsland Estates, Green Trails, Green Trails Oaks, Windsor Park Estates, Windsor Park Lakes, and Barker neighborhoods – has a median household income of over $168,000, and average rent costs add up to $1,944.58, according to the study.

CashNetUSA found the No. 1 most affordable ZIP code for renters nationwide is 66224 in Leawood, Kansas, where annual rent only takes a 10.57 percent cut out of a household's median annual income.

Elsewhere in Texas, San Antonio's 78248 ZIP ranked as the No. 4 most affordable ZIP code for renters in the U.S., and the No. 1 most affordable ZIP code statewide. The North Texas ZIP code 75013 in Allen ranked two spots behind Houston to claim the No. 14 spot nationally.

The most affordable Houston ZIP codes for renters
CashNetUSA further unveiled the five most affordable ZIP codes across major U.S. cities, including in Houston, Austin, and San Antonio.

Following 77094 (which took the No. 1 spot citywide) is 77008 (No. 2), which spans Greater Heights, Houston Heights, Shady Acres, and Lazybrook/Timbergrove. Rent costs in this ZIP code averaged out to $1,856 per month, the report found.

Landing in the No. 3 spot is 77024, which includes four of Houston's historic Memorial Villages, including Hedwig, Bunker Hill, Hunters Creek, and Piney Point. The report said average rent in the area comes out to $1,730 per month, which takes up 16.88 percent of a household's median annual income.

The remaining top two most affordable ZIP codes for Houston renters are located in 77007 (Washington Avenue Coalition/Memorial Park, Rice Military, and Crestwood/Glen Cove) and 77345 in Kingwood, which is about 30 miles north of downtown Houston.