Owensboro Public Schools announced this morning they have reached an agreement with a buyer on the former Texas Gas property on Frederica Street.
The purchase has been approved by the Kentucky Department of Education.
A sales agreement released by OPS lists Gulfstream Enterprises as the purchaser for the property for the price of $3.4 million dollars.
According to Daviess County PVA records, RiverFront Jam LLC paid $3 million for the property in June of 2012, then sold the property to the Board of Education of the Owensboro Independent School District for $3 million in September of 2013.
Matt Hayden, of Gulfstream Enterprises, told Owensboro Living in a statement this morning the property will be used for a new venture called “The Shoppes at 3800 Frederica.”
Hayden says The Shoppes intend to create a mixed-use development, with a combination of retail, office and potentially residential components, which will revitalize the main Frederica Street corridor inside of the Wendell Ford Expressway.
The Shoppes will immediately begin its due diligence and analysis of the existing structures to determine what can be rehabilitated to new uses.
The Shoppes is owned by Matthew Hayden and Jack T. Wells, who are in the process of completing another rehabilitation project involving the former BB&T Bank building at 234 Frederica Street, which house an Alorica, Inc. call center and Bar Louie, which is slated to open yet this fall.
