We are planning to develop a 23-acre, state-of-the-art indoor/outdoor multi-sports facility in Katy, TX. The project presents a unique opportunity to attract participants from the densely populated local community as well as the greater region. This opportunity is based on the void in the market of similar competition, unique facility amenities, need for such a sports and recreation facility, demonstrated enthusiasm for sports and recreational activities, and proximity to population centers. The combination of these critical factors will result in an asset for the local community and region that is both impactful and very sustainable.
The local area is growing significantly fast. A detailed demographic study we have completed confirms the need for sports and recreation activities in underserved, high population areas. All the key factors for our feasibility studies, such as income rates, average money expended for recreation, and overall growth are the highest in the greater Houston area, and have been increasing steadily for years, with projections for the future even better. Katy ISD approved a new Bond for well over $600 million designated for building schools and improving existing ones. The Katy ISD is projecting an increase from 70,000 students to 100,000 students in the coming decade, and this is only one school district. The University of Houston has announced a new 46-acre Katy campus to be open in 2019, which will be part of a 125-acre new campus expected to serve 2,000 students initially. With the systems’ master plan of 500,000 square feet of space, it will eventually be able to accommodate 8,000 to 10,000 students, according to the Houston Business Journal.
We have hired a leading consultant, Sports Facility Advisory/Sports Facility Management (SFA/SFM), to bring experienced industry specialists for project planning, development, and final operation/management, to show that the numbers are validated based on their credentials. SFA/SFM has the best proven records in the industry of youth sports and with their expertise they will bring an immediate success prior, during and after opening. SFA had stated several times, that they have never studied an incredible opportunity like this before, and they have agreed and confirmed that future expansion not only will be feasible but almost required. Which is why the location we have identified has an option to acquire approximately 30 additional acres.