A long-standing local economic development group has sold a downtown Houston building to a city-aligned organization to create a hub for workforce development and technical education.
Houston Development Co. sold the almost 47,000 square foot building between Spruce Street and Walnut Street that through the years has housed shoe and jeans manufacturers, was extensively remodeled for an air ambulance’s business operations and most recently was occupied last year by Drury University for classes that also include Cox College’s nursing program.
The buyer is the Industrial Development Authority (IDA) of the City of Houston, whose membership is appointed by the city to work on projects to better the local economy. The sale also included property east of the Houston Area Chamber of Commerce Fairgrounds that will be the home of an industrial park and a tract at the Houston Industrial Park. Additionally, it assigned a rental agreement and property for a cellular tower to the Houston Area Chamber of Commerce, recognizing the importance of the organization to the community. Proceeds will be at least $6,000 annually.
The sale of the downtown property was finalized Monday. It marks the end of an era for the Houston Development Co. whose roots date to the 1946 financial drive to construct the International Shoe Co. at the site. Residents were able to buy shares in the development company to help finance the project.
The acquisition of the property is a huge step in the creation of a center to build workforce development that includes technical education in Houston, said Rob Harrington, economic development director for the City of Houston. The project is expected to include employers, Drury, the Houston School District, the local IDA, Texas County Memorial Hospital, the Missouri Department of Elementary and Secondary Education and other state agencies.
Harrington said he expects the project to be guided by a not-for-profit corporation whose board is guided by the stakeholders.
The IDA’s involvement allows the site and the project — whose working name is the Piney River Technical Center — to be able to attract grant dollars the Houston Development Co. was not eligible to secure. The project recently received praise from an industry head-hunting group that offered consultation to Harrington. It noted employer-driven training would speed contributions to the local economy, and it recommended that local employers be advisers to the project to develop education opportunities and curriculum. At some point, Harrington said he can envision expanding to help other communities in the region.
Members of the IDA
Justin Shelby, Eric Wells, Tom Dunn, Carl Honeycutt and Brad Rees.
Members of the HDC
Eddie Smith, Don Romines, Chalky Wells, Bill Gladden, Steve Hutcheson Gary Gentry and Chuck Manier.