The following was published on the Real Estate Center website sponsored by Mays Business School at Texas A&M university on December 2, 2008.
GRANBURY ON THE GROW
GRANBURY (Fort Worth Business Press) - The flurry of construction activity suggests that the nation’s economic slump isn’t doing much to slow down what some call a “sleepy town on the lake.”
Among the area’s new developments are a 405-acre business park along Loop 567 and the 744-acre mixed-use Cresson Crossroads.
The Cresson project will feature 500 acres of single- and multifamily residential development along with 244 acres of industrial and commercial developments. According to developer Ryan Thomas, Devon Energy has purchased land in the industrial portion for a 50,000-sf office building.
Other projects include the expansion of Lake Granbury Medical Center, a new upscale senior center, an $80 million Crosstex natural gas processing plant and a facelift in downtown Granbury that will bring 40,000 sf of retail space to the area.
“We’ve always been more of a tourist and bedroom community of Fort Worth,” said Marie Ferguson with the Granbury/Hood County Economic Development Corp. “So a business park and a plant, these are things that will help us to not just grow, but grow right.”
The city was recently named the eighth best up-and-coming area by Claritas Targeting Marketing Solutions, a demographic-gathering company used by many retailers and developers.
