Yep - the Austin's Colony road will be extended to Old Reliance eventually, don't know when. But when they do it, you can bet it will be congested. Only two ways in and out. The shopping center might be a nice addition to that area - some might not like it but it's close shopping and entertainment. Plus, like someone said, you have HW 6 nearby and can get across town relatively easy.
I like the neighborhood across HW 6 from Austin's Colony - kind of behind Domino's and the post office. They are still putting up houses out there. Just a suggestion - nice neighborhood with a good location and less congestion than you will get in Austin's Colony. I'm still a student and nowhere near ready to buy a house but that's where I would start looking.