By Donna McCollum - email
NACOGDOCHES, TX (KTRE) - There's no stopping the springs on a 46-acre plot of prime Nacogdoches real estate. At the same time, there's no stopping a Dallas developer from pumping money into a resort style retirement community called Timber Springs.
City management describes Archangel Capital Partners as methodical and consistent in moving the project forward.
"It's now a $40-million project. They anticipate they will employ 62 and a payroll of $2.1 million," said City Manager Jim Jeffers.
Talk of Timber Springs began about a decade ago. The third developer is the first for-profit group to take over the project.
The concept is still much the same, but the new owners are taking a new direction in some areas, beginning with the master plan. The facility will actually face a different direction.
Deal fatigue from both customers and financiers is a valid concern.
"You have to frame it such that it's in the finance window, it's in the marketing window, and it's something that can absolutely come together and be a positive impact," said developer Joe Geer.
The city of Nacogdoches has already invested millions into a project. So proponents say, "Why stop now?"
"The city has $1.4 million dollars invested in the project. Maroney Drive and the support utilities were built under a different agreement," said Jeffers.
Under the terms of the pre-development agreement incentives must be decided upon by April 30. Staying on track is essential to springing forward.
The Nacogdoches City Council is making its decision now on that pre development contract. City management is recommending the council to adopt the resolution.