A new Home Depot store is planned for Cypress, marking another development along the Grand Parkway corridor near north Katy. According to a state project filing, the retailer intends to build on the east side of Grand Parkway, located south of the intersection with West Road in the 77433 ZIP code.
The filing describes the project as new construction with an estimated cost of $20 million. The facility will total 134,808 square feet. Construction is scheduled to start on October 15, 2026, and is expected to be completed by September 20, 2027.
The proposed store aligns with the expansion of nearby master-planned communities such as Elyson, Sunterra, and Bridgeland. Elyson, situated within the Katy Independent School District, has seen significant residential growth, featuring new homes and resort-style amenities. The community’s master plan includes more than 750 acres of parks, trails, and recreational spaces.
This residential expansion has prompted infrastructure and school investments in the area. Youngblood Elementary School opened in 2023, while Nelson Junior High and Freeman High School opened adjacent to Elyson in August 2024. These developments reinforce the area’s role as a family-focused growth zone within Katy ISD.
Commercial development is also increasing in Elyson. Elyson Town Center, a 17.5-acre mixed-use project, is moving forward with plans for restaurants and retail spaces to serve local residents. The arrival of major retailers like Home Depot often follows population trends and traffic patterns, indicating confidence in the long-term growth of northwest Katy.
Home Depot operates more than 2,000 retail stores across the United States and employs over 400,000 associates. The company states that its locations serve homeowners, renters, contractors, and small businesses. Further details regarding specific tenant mixes or additional commercial anchors in the immediate vicinity are not yet clear.
