Waller County commissioners unanimously approved property tax incentives on Wednesday, Oct. 28, for four warehouses planned west of Katy. The buildings have a combined cost of $63.6 million and would provide about 1.1 million square feet for manufacturing, storage and distribution.
The project is called Park 1489 in county documents and is being marketed to businesses as Park West at 1489. It is planned south of Interstate 10 near FM 1489. A drawing shows more than a dozen additional buildings beyond the first four. Vince Yokom, executive director of the Waller County Economic Development Partnership, told commissioners the initial warehouses are only the beginning. The drawing shows what could be built, not what has been approved.
Under the agreement, the county will not collect property taxes on the added value of the new buildings and certain improvements in 2028 and 2029. The developer, IDV LLC, will still owe taxes on the land and to other local taxing authorities. The developer must complete the four buildings by the end of 2028 and seek businesses to occupy or buy them. The county can withdraw the incentives if the developer does not meet its obligations.