On Friday, December 17, the City of Bedford closed on the purchase of 18.5 acres located at 205, 209, and 401 N. Industrial Blvd. By purchasing this property, the City will be able to ensure that the property will be developed with the high quality that residents expect and deserve. The property was purchased from First Baptist Church of Euless, which used it as the church’s “Campus West” building.
The land purchase triggers a full redevelopment of the land and a partnership with a quality developer who will develop it with the highest and best uses. The City has already been approached by several businesses interested in building or leasing future space on the property. City officials’ ultimate vision is a mixed-use project with a variety of uses that may include residential, retail, restaurant, office, hospitality, and entertainment. The City’s goal is to have development activity within one to two years, at most.
The City paid cash for the property. Property taxes will not be impacted by this purchase.
6Stones, was previously made aware of the City’s intentions to purchase the land and is allowed to remain in the space under their current lease for 90 days after the closing.