Copperas Cove EDC gets update from local developer on The Narrows project

By LYNETTE SOWELL 

Cove Leader-Press 

Jimmy Clark, longtime Copperas Cove developer and businessman, addressed the Copperas Cove Economic Development Corporation board during its Dec. 21 meeting, and discussed the 10+ acres his company owns in The Narrows. 

“As you know that we purchased a piece of property in The Narrows going on two years ago with the intent to develop it, with the goals of the EDC, to create jobs, valorem taxes, sales taxes and revenues for this community.” 

Clark’s company, Fieldstone Commercial, LLC, purchased a little more than 10 acres in March 2020, for $800,000, with the property intended for mixed-use development. 

Clark told the board on the 21st that his company is working with a prospect right now, one that will begin a project on a portion of the property within the next six months. He said there is the permitting approval process, planning, engineering, and site plan that comes before any site work begins. 

Clark said the approximately three acres will be a convenience store and that his company is currently marketing for office space and retail space for the remaining portion of the property. One possible project could be a sit-down – not fast-food – restaurant. 

Although the property purchase closed in 2020, Clark also explained the delay. 

“As you know, this property closed about the time COVID started, followed by 30-40% price increases and unavailability of materials, and now we are into the Fed and their interest rates right now. It’s a difficult climate but we are going to pursue and persevere to get some buildings going on this piece of property.”

According to the purchase contract for Fieldstone, the property - divided into three prospective lots – has some restrictions for what can be built. It may be sold or leased for not more than one gas station/convenience store and one non-fast food restaurant on two of the lots. Niche retail, personal service, pop-up retail, fast food/drive-through restaurants, self-storage/moving units, residential/multi-family residential apartments, or hotels are not permitted. 

The property may be used for professional office space, back office, customer service, and “Destination Retail.”

Clark also talked about another economic development endeavor along 190. 

“We - Wes Atkinson and myself – own a tract of property across Business 190 where several development aspects are in the works right now, as far as utilities, ingress, access, acquiring property from Fort Hood to accommodate some of these things, to go underneath the bypass to allow utilities, and have a tract that hopefully Fred (Welch) and the EDC can market to some of the larger prospects we’re working with right now.” 

CCEDC Executive Director Fred Welch briefed the board on the EDC’s current goings-on, to include business prospects for Copperas Cove. He said the EDC has about 17 open prospects, to which his offices have sent responses to businesses, the state, or consultants regarding possible business locations in Copperas Cove. 

“We probably have what I’d say are three very active projects that we’re working on,” Welch said. “I have stayed in touch with First Houston Properties, the folks who bought the 15 acres. They are still intending in the February-March timeframe to get started with that first spec building out there in The Narrows.”

Welch said that the EDC has also discussed the rail study that was conducted in 2018 which had a lot of good positive things. It also got tied up in COVID. He said there is still a “great deal of interest by the installation and by the Department of Defense to see if we can create some sort of a public-private partnership.”

He said that in January, they will be heading to the International Council of Shopping Centers conference, and will have new promotional materials in hand. He said it could be anything from medical clinics to regional headquarters to sit-down restaurants, whatever it might be. He added that the EDC’s new promotional video is almost ready and will be ready in time for State of the City, coming up in February. 

The EDC’s Director of Business Retention, Diane Drussell, also gave an update to the board which included Small Business Saturday.

“We had about 45 businesses participate. Some of them were brick and mortar. Some of them are home based businesses that we found locations for them to set up. 

“We felt like it was a pretty successful day. I think next year, we’re going to change the time a little bit to be more in the afternoon. Because the wreath laying is always going to be on that Saturday as well, and that gives people a little more time.”

Drussell said the EDC will be planning an Open House for its offices sometime in January, as the EDC recently relocated its offices. 

“It’s a way to bring in the new year as well as introduce everybody to our new building,” Drussell said. “And I will be focusing a lot on business retention, starting January and doing a lot of businesses and going from there and scoping out a place for the Entrepreneur Center.”