General Growth asks for Chap 11 extension

Owner, Bridgeland development

Jay Blazek Crossley, Jul 06, 10.

General Growth Properties, the Developer of Bridgeland, an 11,400 acre proposed development on the Katy Prairie, expects to file its Chapter 11 reorganization plan on or around July 9, but has asked a New York bankruptcy court to extend until Oct. 18 its exclusive right to file such a plan, according to the Houston Business Journal.

Peter Houghton, Vice President of Master-Planned Communities at General Growth Properties, testified in 2009 before the Harris County Commissioners Court in favor of allocating funds for the proposed Grand Parkway Segment E project, saying “We need this road to continue the build-out of Bridgeland.”

The Texas Department of Transportation has made it clear in testimony before the Texas Transportation Commission that one of the purposes of the Parkway is to “open up areas for development.” The proposed Bridgeland project is the largest such development proposed along the proposed Grand Parkway Segment E. The proposed Bridgeland development is also along the proposed $5 billion US 290 expansion project.