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KBR To Build Headquarters In Katy


Boris

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Actually Katy is what everyone calls old katy. That is really the City of Katy. I think the zip code name should be change to Houston, TX. That is why many people think they live in another city while they actually are not.

Actually, people who live in "Katy area" are smart enough to realize that they don't live in the city of Katy. When I talk about the city of Katy in particular I refer to it as "Katy proper". I consider "Katy" to include Katy area as well as the city of Katy. Katy area is not within any city limits - Houston nor Katy.

Much of what is labeled Houston is not actually within the city limits of Houston either.

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Actually Katy is what everyone calls old katy. That is really the City of Katy. I think the zip code name should be change to Houston, TX. That is why many people think they live in another city while they actually are not.

No one lives in any city west of Barker Cypress, East of Katy-Fort Bend Road, South to Bellaire, or north to FM 529. It's all Houston's ETJ, which isn't the City of Houston if you didn't know.

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I live in the 77450 zip code, and have a Katy Address. If I'm not mistaken my home is still considered to be in the Houston ETJ which is confusing.

The Texas Municipal Annexation Act of 1963 created the concept of extraterritorial jurisdictions.

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I was just curious. I know that Mayde Creek High School which is between Barkers Cypress and Fry has a Houston address, but it could just be ETJ.

Mayde Creek is in the ETJ, but the Houston city limits are nearby.

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  • 3 months later...
KBR delays project in Katy Indefinitely

By HELEN ERIKSEN CHRONICLE CORRESPONDENT

Nov. 4, 2008, 2:33P

KBR's plans to build a new headquarters in the Katy area are on hold indefinitely, a spokeswoman for the global engineering, construction and services company said on Nov. 3.

"Construction on KBR's West Campus has been delayed due to current financial market conditions," said spokeswoman Heather Browne.

"Our commitment to build a west Houston office remains, however, no further decisions on the campus will be made until these market conditions improve," she said.

KBR, formerly Kellogg, Brown and Root, energized the local business community with a May announcement that it would build a large complex in the Katy area at the southwest corner of Interstate 10 and the Grand Parkway.

The new headquarters, which would house 4,500 employees, was touted to have a strong corporate and economic impact on the west Houston area.

The 910,000-square-feet project would include several low-rise buildings and was expected to break ground later this year.

Construction was anticipated to near completion in 2010.

Lance LaCour, president and chief executive officer of the Katy Area Economic Development Council, worked closely with KBR to negotiate details of the project.

On Nov. 3, he said he is optimistic about the project's future.

"Of course, we would like to proceed with the same timeline but we understand the company's position," LaCour said. "We feel the project will happen."

Meanwhile, the Houston-based company has said even with the Katy-area campus it would maintain its downtown presence.

KBR has corporate offices at 601 Jefferson St. The company also has offices at 500 Jefferson St. and 410 Clinton Drive.

KBR said in late October that the global economic slowdown has not had a significant impact on its business operations, but some projects would be delayed.

Officials could not say when construction would commence on the Katy area complex.

According to financial reports, KBR's third-quarter profits increased by 35 percent with net income rising to $85 million, or 51 cents per share, in the three months ending Sept. 30. This compares to $63 million, or 37 cents, a year ago.

helen.eriksen@chron.com

I was looking forward to this project, Only time will tell now.....

Another factor that could impact this complex is the possibility that KBR could be sold or acquired any time after 4/30/09, which is the 2 year anniversary of the spin off from Halliburton. A new owner may have better options (e.g other underutilized facilities) than building this new complex. Depending on the severity of the economic downturn, potential for large projects to be cancelled, etc. KBR could become an acquisition target, as it has a lot of cash (approx $9 per share).

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Another factor that could impact this complex is the possibility that KBR could be sold or acquired any time after 4/30/09, which is the 2 year anniversary of the spin off from Halliburton. A new owner may have better options (e.g other underutilized facilities) than building this new complex. Depending on the severity of the economic downturn, potential for large projects to be cancelled, etc. KBR could become an acquisition target, as it has a lot of cash (approx $9 per share).

Another factor is that their infill property along Buffalo Bayou probably cannot be sold at as attractive a price today or otherwise developed as would have been possible only a couple years ago. If they can stay there and ride out the housing crisis in place, they should.

Likewise, if they were able to vacate their downtown office space today, they'd probably be able to sublease it at a substantial gain. But downtown occupancy is slipping even as two large new projects are under construction; it might not be pretty downtown when they actually are able to provide sublease space to the market.

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For the record...Houston's ETJ extends around the City of Katy to the west, almos to Pederson Road (Luv's) on I-10. The reason for that was (if you are not old enough or new to the area) the City of Houston was planning on building a new modern airport on land in Waller County, ver near the site of the new Executive Airport that has been built...there is a map showing the ETJ and when I find the link, I will post it up....also, the CoH ETJ has been extended to include portions of Mason Road...when the CoH was going after water rights and trying to form alliances with the surrounding MUDS in the unincorporated areas, that allowed for HPD to patrol there as well. In a sense it was annexation by proxy....that's why you can get a ticket from HPD on Mason...

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