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LEDCO Board Approves Property Purchase for Redevelopment

28.06.2013
Author: 
Public Relations

 

  LEDCO Board Approves Purchase of Former Hotel Property for Redevelopment

June 28, 2013, Longview, TX… The Longview Economic Development Corporation (LEDCO) board of directors unanimously voted to purchase the property on the northwest corner of Estes Parkway and Interstate 20.  The property is the site of the former Holiday Inn full-service hotel and a gas station, both of which have been vacant for several years.  LEDCO is acquiring the approximately 6.5 acre property for the purpose of redevelopment in the continuing effort to grow the Longview economy through the attraction and retention of business. 
 
“This property has been an eyesore to the community for several years and has been a topic of discussion many times.  Most recently, the I-20 Corridor Task Force included it as one of their top priorities in the list of recommendations to City Council,” said Mayor Jay Dean.  “The City of Longview and LEDCO have worked together to make this revitalization project happen.  This is a great step forward for even more progress in our community.” 
 
The property is expected to close in less than 90 days.  LEDCO and City staff will continue to work with Titanium Environmental to determine the extent of remediation needed.  KSA Engineers will complete the survey of the property and design demolition plans.  LEDCO will immediately begin marketing the property as an ideal location for corporate headquarters facilities citing the ease of access to I-20 and East Texas Regional Airport as well as high visibility along the I-20 corridor.
 
“The purchase of this property is positive on so many levels.  We are removing potential safety issues by tearing down the structures that are in such serious disrepair, not to mention removing a terrible first impression visitors to our vibrant city have when they drive into town.  The Board and staff are overwhelmingly excited with the opportunity to work with city staff and elected officials to revitalize this property to bring jobs and industry to Longview,” said Keith Honey, LEDCO Board President.
 
Longview is two hours east of Dallas and one hour west of Shreveport, LA.  The largest manufacturing employers are Trinity Industries, Eastman Chemical and Joy Global. 
 
LEDCO is the economic development organization for Longview, TX.  If a local company is exploring the possibility of expansion or if a business from outside the region wants to locate in Longview, LEDCO’s professional staff is trained to assist them.  Since 1999 LEDCO has financially assisted 47 existing companies and 19 new companies.  These primary companies have invested over $400 million and created more than 4,000 direct jobs at their facilities.  LEDCO is bringing new investment and jobs to Longview!
 
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