Posted May 26, 2023, 9:32 PM
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FYHA
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Join Date: Oct 2007
Location: Houston - Wichita, KS
Posts: 3,182
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METRO P&R System
https://communityimpact.com/houston/...park-and-ride/
Quote:
METRO approves 40-year contract for Missouri City park and ride
By Renee Farmer | 2:38 PM May 26, 2023 CDT
Updated 2:38 PM May 26, 2023 CDT
The Metropolitan Transit Authority of Harris County agreed to sign a 40-year contract with NewQuest Properties for a park and ride facility at Hwy. 6 and the Fort Bend Parkway Toll Road.
The details: METRO began negotiations with NewQuest in September to build and lease a park and ride facility in Fort Bend Town Center III, NewQuest’s third phase of the Fort Bend Town Center development. After deciding not to vote on a contract with NewQuest in February, METRO’s board of directors approved the contract during its May 25 meeting.
METRO will pay up to $59.8 million for the 1,750-space parking garage as well as $325,000 annual rent for the ground use.
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