What’s happening?
Sanford P. Aron, the president of Hunington Properties, intends to purchase this 6-acre property for $3.1 million to construct commercial, retail and restaurant buildings, Assistant City Manager Mark Wood said.
“We have a letter of intent with [Hunington Properties], but until a purchase-sale agreement is approved and the property is under contract, [the developer] can’t go out into the market to secure desired users,” Wood said.
The purchase-sale contract has a feasibility period of 150 days, where the developer must bring zoning changes to the planning and zoning commission and council for approval, Wood said. Closing on the property is subject to Aron obtaining council-approved zoning changes for the intended property improvements, Wood said.
“There is nothing that is set in stone that’s going to be on this property,” Mayor Bobby Lindamood said. “This is an intent to sell it to [the developer] in case they bring people forward that would like to lease buildings that they’re putting in there. We have no idea what buildings or restaurants [will go there] yet. Anything that is presented will come to council and be discussed in public.”
City officials bought the property in 2021 for $2.6 million, Wood said.
In other news
Council approved a request for 2.81 acres located at 105 Professional Court and 5301 Colleyville Boulevard to be replatted from two lots to five lots for future office development, according to city documents.
The property is currently undeveloped and zoned for office use, Director of Community Development Ben Bryner said. The land is located adjacent to the fire department.
