Harris County Municipal Utility District No. 391 (the "District") is located approximately 25 miles northwest of the central downtown business district of the City of Houston and lies wholly within the exclusive extraterritorial jurisdiction of the City of Houston and within the boundaries of the Cypress-Fairbanks Independent School District. The District is located generally to the north of U.S. Highway 290, wrapping around the Cypress Lakes Golf Course to Cypress Rose Hill Road on the east and is intersected by Mueschke Road.
The residential portion of the District has been developed as Villages of Cypress Lakes. Construction of water distribution, wastewater collection and storm drainage facilities to serve Villages of Cypress Lakes, Sections One through Seventeen, and Nineteen through Thirty-Four (2,547 lots on approximately 550 acres), as well as street paving, has been completed. As of May 1, 2019, 2,445 homes were completed of which 2,433 were occupied, 21 new homes were under construction or in the name of the builder, and 81 developed lots were available for home construction in the District. New home prices in the District range from approximately $150,000 to $700,000.
Approximately 75 acres have been provided with underground trunkline utilities for commercial/multi-family development. A 7,700 square foot Buc-ee’s restaurant, gas station and car wash, a Christian Brothers Automotive facility, the Shops at Cypress Park, an 11,000 square foot medical office, a Gringo’s Mexican Restaurant, a Cracker Barrel, a Shell gas station and convenience store, a day care center, two retail centers, a Goodwill Select Store, a La Quinta Inns & Suites and a Tru Hilton Hotel have been constructed on approximately 33 of the 75 acres. Grand Cypress Apartments, a 312 unit apartment community, have been constructed on approximately 15 of the 75 acres and is currently approximately 93% occupied according to the apartment community’s management. A Costco Wholesale Warehouse is under construction on approximately 19 of the 75 acres with an expected opening in July 2019. The remaining approximately 8 of the 75 acres is owned by various entities and is vacant.
The remainder of the District consists of approximately 27 acres of developable but undeveloped property and approximately 119 undevelopable acres (including approximately 3 acres devoted to recreational centers).