Although KBR’s plans to develop a new headquarters facility on The Grand Parkway near IH-10 have been put on hold, the company still plans to go forward with the project at a future time.
During the Katy Economic Development Corporation’s general assembly meeting Tuesday, EDC President and CEO Lance LaCour told the membership that KBR had told him the company still intends to build the planned facility; however, due to the current economic climate, plans to begin construction have been indefinitely delayed.
“They have notified me that their plans are to still go forward,” LaCour said.
The company announced last May that it had plans to develop the facility on the southwest corner of IH-10 and the Grand Parkway.
KBR, formerly known as Kellogg, Brown and Root, signed an earnest money agreement and had planned to build a 910,000 square-foot office campus. The cost of the project was estimated at $ 225 million.
At the time the project was first announced, the company said it hoped to begin construction before year-end, with completion anticipated in 2010.
Company spokeswoman Heather Browne confirmed the company is still committed to the location, but is putting the project on hold because of “current market conditions.”
“No further decisions on the west Houston office will be made until market conditions improve,” Browne said.
By: John Pape on Wed, Dec 10, 2008
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