In the first phase, the road was widened from just south of FM 3470 in Killeen (known locally as Stan Schlueter Loop) to near the intersection with RM 2670 in the community of Ding Dong.

The second phase added two new bridges over the Lampasas River and extended to near the Bell–Williamson county line.

It begins 3 miles south of State Highway 138 near Florence and stretches to Ronald Reagan Boulevard in Georgetown.

In the future, new phases will create a divided highway along the entire length of SH 195.

The road was once known in Central Texas as the "Highway of Death" due to the many fatal accidents on 195.

Also, the new highway will facilitate vehicle movement in the event of a deployment of troops from Fort Hood en route to Interstate 35.