COPPERAS COVE — Construction of the Copperas Cove Business and Professional Park should break ground in about two weeks with a five- to six-month estimated completion date.
Earlier this week, Cove Industrial Foundation President Jimmy Clark announced that the private, nonprofit economic development organization selected Killeen-based McLean Construction to develop a 23-acre lot on Constitution Avenue just south of Cinergy Cinemas.
“We just feel that this is going to be the place for business in Copperas Cove,” Clark said about the site.
It is located near an area where there is a lot of development occurring, including the Five Hills shopping center, the Narrows Business and Technology Park and the U.S. Highway 190 bypass.
Clark wouldn’t disclose the cost of the construction contract at the direction of the organization’s board, but in March he estimated it to be about $1.5 million.
Once complete, the development will be divided into 16 lots ranging from one to two acres each with two access points from Constitution Drive, according to site plans.
With a contractor selected, the industrial foundation can start trying to sell portions of the property to professional businesses, Clark said. Depending on the economic market, Clark said all 16 lots would be sold and have business sites on them in two to four years.
The foundation has already seen some interest in the lots and is in negotiation with a few businesses, Clark said.
Marketing and appraisals on the property, however, have just started, he said. Since the foundation has no staff, it will be working closely with the Copperas Cove Economic Development Corporation to market the property.
The Cove Industrial Foundation has operated since the 1960s and was created to spur economic growth in the city.
It plans to use the funds it generates from selling lots in the business park to purchase more property for future economic development.