$9.5MM phase is part of 380 Economic Benefit Area
The Energy Corridor District (ECD) has completed the first phase of its $20 million Park Row Completion project, opening the doors to significant development.
Part of the City of Houston and the ECD’s 380 Economic Benefit Area, the Park Row Completion project aims to improve access and mobility north of I-10.
In phase one, a $9.5 million effort, the CD designed and constructed the basic infrastructure needed to support planned developments. A new road now spans from the METRO Addicks Park and Ride to beyond Central Part West road, with lift station ready to serve a new hospital complex planned by M.D. Anderson and a luxury apartment complex now being built by The Worthing Companies. ECD’s busy beautification crews are maintaining the new Park Row road, regularly removing litter and mowing easements as they do with every thoroughfare in the District.
Phase II of the Park Row Completion Project will break ground in 2014, with a projected 2015 end date. Park Row will then connect to N. Eldridge, improving access in The Energy Corridor to several businesses, as well as making it easier to reach METRO’s Addicks Park and Ride.
The 380 Economic Development Area is managed by the ECD and The City of Houston. These zones facilitate economic growth. The District has a loan from the Houston Housing Finance Corporation to cover the costs of the project. The additional City tax dollars accrued from development within the zone will be used to pay the loan.