La PORTE — A new medical office building is expected to be constructed in NewPorte Landing.
The city’s Redevelopment Commission voted on a Development Agreement that would allow for the city to transfer property to a development firm.
Holladay Properties is expected to develop about four acres of land located in NewPorte Landing. The site for the proposed development was property of the city prior to the transfer.
The four acres sit on the northeast part of the roundabout near Clear Lake Boulevard. This land is currently vacant with no buildings developed on it.
"The land will be transferred to them in exchange for their committing to the development, starting with the medical office building, and then future expansion,” said Attorney James W. Kaminski.
Holladay Properties has agreed to a minimum commitment of development of $2 million with an anticipated development commitment of $3 million. Included in that investment would be a commitment to begin development of the medical office building.
The proposed medical office building is expected to be around 1,100 square feet. Development is scheduled to begin by Sept. 1 of this year. The building is expected to be completed around one year after the construction begins.
Under the terms of the development, the Redevelopment Commission will incur the cost for soil remediation needed on the site. The commission had already budgeted for the expense prior to the meeting.
The necessary soil remediation has already begun on the site. The beginning phase of the remediation is set to be completed by June 5. The second phase of the remediation is scheduled to begin shortly after and will lead into the construction of the parking lot for the medical office building and any other developments Holladay Properties may choose to have constructed on the transferred land.
The development firm has not yet given insight into any other plans for the parcel, although additional developments will possibly take place in the future.
The Redevelopment Commission voted unanimously to approve the transfer of the property to Holladay Properties for the proposed development.