02-20-1997 Regular Meeting of the La Porte Planning and Zoning Commission

Browse Search

• • Planning and Zoning Commission Minutes of February 2A, 1997 Page 5 of 9 Approximately 4-6 months ago, Grubb & Ellis was hired by Stuart Haynsworth, (one of the owners of the property in question) to sell the property. The initial development scenario that was devised included, among other things, some industrial bulk distribution warehouses, office warehouses, retail and residential development. Since that time, they have successfully contracted with several developers for the type of development they felt would work here. With the development being located in a P.U.D. zone, they were concerned with restrictions that could be imposed regarding future development of the property. There is a tremendous need for industrial properties in this area. They are in the position to market this property to developers that will build buildings to serve various industries that are located on the north side of SH 225 as well as the Bayport Industrial District. Grubb & Ellis has contracted with a Canadian group that has taken approximately 40 acres (a strip 2,000 LF x 670 LF along SH 146). In addition, there is a major institutional fund that may account for up to 200 acres of the property for development of industrial buildings. Mr. Toups added that the type of buildings that have been identified for this development are Grade A product; meaning, very expensive, architecturally pleasing, and does not include metal buildings. A local company, Center Land Company, has designed an intermodal facility and contracted for the land. It is necessary for the group to obtain zoning for bulk distribution, development of warehouses, office warehouses, service and retail centers. Chairman Waters asked Mr. Toups what dollar amount is placed on the development. His answer was the overall worth after development would be in excess of one hundred million dollars. Mr. Toups introduced Dean Truitt, an Officer with Center Land Company, that specializes in industrial, railroad, utility corridor type properties. Their primary focus deals with the use of comdors. There is substantial need for additional rail and trucking infrastructure for the ability to efficiently move product in and out of the Bayport Industrial District. Mr. Toups described intermodal as moving from one form of transportation to another. They are not talking about a container facility. They are talking about a facility that deals with the plastics and chemicals being produced in the Bayport Industrial District. Center Land Company is concerned with the transportation component of the overall development; the ability to effectively get product in and out of production facilities and into distribution. Even though Center Land is serving as developer and planner for the project, they have entered into a joint agreement with the Pensley Railroad Company, having considerable experience in operating storage facilities and interrelating with Union Pacific Railroad and other national carriers.