BEAUMONT, Texas — Beaumont City Council members will decide if they want to give the green light to Houston based company GP Realty and Management, Inc. for more downtown development.
This includes more apartments, retail space and even a hotel could potentially be coming to downtown Beaumont.
City leaders hope by creating an empowerment zone, they can entice developers.
They say as new restaurants come in and Riverfront Park is revitalized they want to make sure there's plenty of options for those looking to rent or check into a hotel.
"We're as invested as they are in terms of making sure it's a success," said Beaumont Mayor Roy West.
City Council members are gearing up to make these big decisions that could continue shaping the landscape of downtown on Tuesday, January 23, 2024.
"Getting people to actually live downtown is a step that we're wanting to go into," West said.
Through empowerment zone incentives, a possible agreement made with GP Realty could bring retail space and apartments to 690 Orleans Street and a 12 unit apartment complex to 704 Neches Street, according to West.
"When you find a private investor they have to see about return on investment . And what we're doing is incentivizing them with the three year wave of the municipal property tax," said West.
West says the empowerment zone has already been established, but he doesn't know the exact date of when it was established.
City Council documents say the investor could take advantage of building fee waivers and expedited permit reviews.
Southeast Texas real estate broker Kevin Reed thinks it's a great move.
"I think Mayor West is right on point with getting some new ideas to bring all types of growth down there," he said.
Reed says fewer than 1,000 people live downtown and more apartments might help attract new tenants.
"I think even some of the places that are downtown converted into some nicer units would be great," said Reed.
"What we're always looking at is what's best for Beaumont and we understand that. We want to continue to make Beaumont a more attractive community," said West.
The city council has several items on the agenda relating to the empowerment zone and downtown development.