A $2 million federal urban easement project in the city of Houston is being built with a $2 billion private investment, a federal official said Thursday.
Houston Mayor Sylvester Turner announced Thursday the city is partnering with the Federal Highway Administration and Texas A&M University to build the $1.3 billion urban easements project that would stretch from South Houston to Interstate 10.
It will have a direct impact on thousands of residents in the Houston suburbs, the city’s official website says.
The project will be constructed to provide a permanent connection between the urban area and the Houston metropolitan area, Turner said.
A private investment firm is also expected to build a road, but the exact construction date has not been announced.
The city is also developing a new development zone in Houston’s southwest neighborhood, a new neighborhood that will be known as the East End, for the new development project.
The $1 billion urban infrastructure project will cost $1,700 per acre for the first phase, $2,000 per acre in the second phase, and $4,000 in the third phase, according to a release from the U.S. Department of Transportation.
The city is working with private companies to help design and construct the projects, Turner’s office said.