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    West Katy Grows

    5-acre green space and Houston restaurants anchor new Katy development

    Brianna McClane
    Aug 6, 2025 | 11:15 am

    Katy continues to grow, this time with the addition of Texas Heritage Marketplace — an 800,000-square-foot mixed-use development under construction in Waller County. While the project spans 165 acres at the southwest junction of I-10 and Texas Heritage Parkway, it’s the nearly five-acre central green space that will be surrounded by a curated mix of restaurants and retailers that sets it apart, according to the project's developer.

    "We want to raise the bar on green space concepts. We envision a mix of inviting dining concepts and spa- or fitness-related brands to play off the entire project's lifestyle component," said Bob Conwell, senior vice president of NewQuest, in a statement. Conwell is leading pre-leasing efforts for the Houston-based real estate firm.

    Escalante’s, Tony C’s Pizza and Beer Garden, Aji Izakaya, and Kilwin’s are the first wave of tenants to secure a spot in the 39,811 square feet of premium retail space encircling the green space. Half of that square footage is already either leased or in negotiations.

    "Signing Escalante's is a badge of honor for Texas Heritage Marketplace's green space. It's well-known that the upscale restaurateur is very selective about its locations," said NewQuest senior vice president Bob Conwell.

    The future Escalante’s outpost will be the Tex-Mex chain’s eighth location in the Houston area. Tony C’s Pizza and Beer Garden, a sports bar concept named after Red Sox legend Tony Conigliaro, is making its Greater Houston debut with the project.

    "Aji Izakaya and Kilwin's are equally well-known brands in the market and both are expanding," Conwell said. "We're starting with four strong attractions as place-makers for the green space."

    A large heritage oak tree that NewQuest saved from the path of nearby highway construction will serve as a focal point of the green space, with a water feature and native plants adding to the attraction.

    "We're being highly selective about the tenants who will co-exist in the green space,” David Meyers, managing director of leasing and development partner for Houston-based NewQuest, said in a statement. “They ultimately share a common bond, which is to encourage people to stay longer and return frequently.”

    Texas Heritage Marketplace, which broke ground in January, is already slated to be home to at least four national anchors, including a Target store expected to open in October 2026 and EoS Fitness. The anchors alone are projected to draw roughly four million visits annually. A 50,000-square-foot medical facility (with potential expansion to 70,000 square feet) and at least 500 high-end multifamily units are also planned

    "It's rare to see a project of this magnitude being built today," Conwell said. "Once construction is fully underway, meaning walls are going up, the market's anticipation will really start to take off."

    Texas Heritage Marketplace

    Rendering courtesy of NewQuest

    Texas Heritage Marketplace, a mixed-use development under construction in Waller County, spans 165 acres with a five-acre central green space.

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    housing affordability news

    This is how much Houston home prices have fallen since 2024

    Amber Heckler
    Jan 16, 2026 | 4:30 pm
    16403 Sheffield Run Drive, Houston home for sale
    Estately.com/
    This home at 16403 Sheffield Run Dr. in Houston's Berkshire Oaks neighborhood is on the market for $309,900.

    A new real estate analysis has revealed housing prices across the Southern United States have seen a major large-scale decline from 2024-2025, with Houston homebuyers experiencing the 11th-steepest "price correction" in the region.

    Houston-area buyers have a better chance of purchasing an affordable home this year after prices cooled 1.5 percent from 2024-2025, the study found.

    Online real estate marketplace Zoocasa compared year-over-year median price changes for single-family homes across 20 cities in the South based on local real estate data. The study also looked at housing affordability in the American West, Midwest, and Northeast.

    In Zoocasa's ranking of the Southern cities where affordability is improving the most, Houston ranked No. 11.

    In 2024, the median price for a single-family home in Houston was nearly $340,000, which has since dropped to $335,000 in 2025. Local sellers may not be happy about cooling prices, but it does make housing more attainable for first-time homebuyers.

    Better housing prices will surely attract even more new residents to the area, especially since Houston was the second-hottest destination for movers in 2025, and its suburbs are still booming in popularity.

    "Affordability is on the rise across Texas, with major cities seeing significant price corrections," the report said. "Most importantly for buyers, the median home price in each of these cities remains more affordable than the national median."

    The national median price of a home in the third quarter of 2025 was $426,800, according to the latest information from the National Association of Realtors (NAR).

    Housing affordability elsewhere in Texas
    Dallas was the No. 2 Southern city where housing is becoming more affordable. Dallas-Fort Worth's housing prices fell 5.71 percent from 2024-2025. The median price of a single-family home in North Texas fell from $397,700 to $375,000 during the one-year span.

    In Beaumont-Port Arthur (a metro area east of Houston), housing prices have fallen 4.62 percent year-over-year, making it the metro with the No. 5 steepest price correction in the South. Median home prices dropped to $217,000 in 2025, or $10,500 lower than the year before, the report found.

    Austin's housing prices fell 2.04 percent during the same time span, landing the Capital City in the No. 9 spot. The median price of a single-family home in Austin fell from $437,925 in 2024 to $429,000 last year.

    Surprisingly, San Antonio ranked near the bottom of the list with housing prices increasing by five percent year-over-year. Single-family homes in the Alamo City had a median price just under $300,000 in 2024, which spiked to $315,000 in 2025.

    Housing market predictions in 2026
    Zoocasa predicts the 2026 U.S. housing market is "poised for a steady revival" since mortgage rates have dipped nearly a full percentage point since this time last year. Current interest rates for a a 30-year mortgage are sitting at 6.16 percent, the study said.

    The NAR report additionally found that pending home sales have grown by 2.6 percent year-over-year from 2024.

    "Homebuyer momentum is building," said NAR Chief Economist Lawrence Yun. "The data shows the strongest performance of the year after accounting for seasonal factors, and the best performance in nearly three years, dating back to February 2023."

    The top 10 Southern cities where housing affordability is improving the most in 2026 are:

    • No. 1 – Naples-Immokalee-Marco Island, Florida
    • No. 2 – Dallas, Texas
    • No. 3 – Durham, North Carolina
    • No. 4 – Ocala, Florida
    • No. 5 – Beaumont-Port Arthur, Texas
    • No. 6 – Cape Coral-Fort Myers, Florida
    • No. 7 – Jacksonville, Florida
    • No. 8 – Atlanta, Georgia
    • No. 9 – Austin, Texas
    • No. 10 – Raleigh, North Carolina
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