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Bryan Council Approves Giving Downtown Developer More Time

In December 2015, the Bryan city council approved an economic development agreement to turn a portion of the north downtown area into a $30 million dollar complex of residential, commercial, and retail space.

On Monday, the council unanimously approved the developer’s request for another six months to obtain building permits.

Chris Lawrence of the Jordan Center notified the council last month that it took longer to obtain the financing for what he now says is a $28 million dollar project.

Lawrence has reduced the number of apartments to 130 and has cut the amount of retail space in order to create enough on-site parking.

Jordan Center will continue to include a renovation of the former Kimbell Feed building into a restaurant and catering business.

Once construction is completed, Lawrence will receive a rebate of $1.1 million dollars of city property taxes. Another $75,000 in city fees will be waived.

Click HERE to read and download background information approved by the council.

Click HERE to read and download the developer’s request for more time.

 

Site of BCS Modern Living Center's Jordan Center development at the north end of downtown Bryan.

Site of BCS Modern Living Center’s Jordan Center development at the north end of downtown Bryan.

Short URL: http://wtaw.com/?p=112469

Posted by on Jan 31 2017. Filed under Featured Stories, News.

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