North Overton Redevelopment Project Three Years Ahead of Schedule - KCBD NewsChannel 11 Lubbock

12/28/04

North Overton Redevelopment Project Three Years Ahead of Schedule

Dozens of new retailers and over a thousand new housing units will be in place sooner than you think. The North Overton Redevelopment Project is three years ahead of schedule.

The Centre at Overton Park should be open in June. The Centre is the 'hub' of the 325 acre project. The first floor is dedicated to retailers, half of the space is already leased. The top three floors will have 277 apartment units, many of those units have been leased as well.

On the corner of what's now named Glenna Goodacre Blvd. and University, the new City Bank is almost ready. It will open by February. Glenna Goodacre will run straight through Ave. V within three months.

The entire project was scheduled for completion by 2009. A total of 1,500 new housing units as well as dozens of other retailers will now be finished by 2006. "It's interesting that we're that far ahead of schedule and I think has really caused excitement in Overton Park because there was a lot of skeptics that never thought it would take place, much less in this time frame," said CEO of McDougal Companies, Delbert McDougal.

Lubbock's first full service hotel will be located near 6th St. and University. McDougal expects to make a more specific announcement on the hotel within 60 days. New retailers include Raiderland Bookstore, TCBY and second Lubbock locations for Lindsey's Day Spa and Always Tan.

The project's estimated taxable value in 1999 was $26 million. It's current estimated taxable value is more than $500 million. The entire project will create an estimated 475 new jobs.

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