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Curiosity regarding large patch of land in Cypress

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There is a lot of available land at the SE juncture of 290 @ 99 and north of Cypress creek here. I am curious if anyone has any information (or a way of obtaining it) about this land. Does someone own it outright now and they're sitting on it? Is any of this slated for any type of development any time soon, or is this still farmland and whoever owns it isn't willing to sell it? Does this area flood really badly from Cypress creek and that's why nothing has developed? It feels that development is almost skipping over this area and going further out along 290, so it's got me wondering.


The only thing I know for sure is that the proposed high speed rail alignment currently would go through here on the tracks just south and parallel to the freeway. It doesn't look like they're going to put a stop in Cypress for the train, but if they did then this area would be perfect for a slightly more dense mixed-use center attached to a train station.. it won't happen, but one can certainly dream.

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Thank you for all the info! Looks like at the time they were looking at developing starter homes. I guess that would be an under served market in this exact area,  but I wonder if those plans will get changed given the large housing developments around it are moreso in the $300k-$1mil+ range. Since they've sat on it for so long, I wonder if they're still intending to go through with their original plan someday or if they're going to sell the land to a new developer.

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