February 17, 2017
City officials in Odessa, TX are considering a downtown development of apartments and retail that would span approximately 2.5 city blocks around Jackson Avenue and Fourth Street. The city hasn’t yet requested proposals from investors or developers.
Another option, according to City Manager Richard Morton, would be to put together the project, as the city did for the downtown hotel and conference center. The $77 million hotel and conference center, scheduled for a spring ground breaking, will anchor a broader downtown development. In 2014, the city council paid Gatehouse Capital of Dallas, TX $200,000 to study the hotel and conference center.
Morton recommended against a similar study for the apartments and retail, however, indicating that the city wouldn’t be investing as much money.
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