By: Emma Perez-Trevino
Source: Valley Morning Star
HARLINGEN — Crews have been at work at the site of the former Sun Valley Motor Hotel on 77 Sunshine Strip, demolishing the remaining buildings that also housed a bar and grill, making way for development of what will be known as Sun Valley Square, public records show.
The developers, Lockard Integrated Real Estate Solutions’ Lockard Asset Managers LLC and Lockard Harlingen Holdings LLC, based in Cedar Falls, Iowa, purchased the properties including the motor hotel in October and March this year, according to records.
The developers say that plans call for development of Sun Valley Square, which will include a retail/medical tenant that would occupy a 41,800-square-foot building. The properties that the developers own are comprised of four lots. Lot 2, consisting of 2.57 acres of land already is under contract. Three separate, but adjacent parcels are available. Lot 1 is comprised of 3.96 acres, while lots 3 and 4 are each under an acre, according to the firm’s website.
“In total, there will be 8.5 acres available for sale or lease with construction expected to begin Spring 2015,” the developers’ website notes.
The developers’ presence in Texas has been growing. In June last year, the firm announced the sale of approximately 7 acres in McAllen to Wal-Mart Stores Inc. for a new Walmart Neighborhood Market, which the firm notes is less than one quarter the size of an average Walmart Supercenter.
In May 2014, the firm announced the sale of 5.3 acres of land in Denton to Wal-Mart Stores Inc. also, and is involved in a retail project at Corpus Christi Bay. They also have developed medical facilities and other types of projects in New Braunfels, Round Rock, Seguin, and Dallas, according to their website.
“We are very excited that the area is being developed,” Mayor Chris Boswell said, adding, however, that “we don’t know for sure what they are going to do.”
The firm points out that for more than 60 years, it has grown into a nationwide integrated real estate solutions firm, completing more than $1.7 billion in real estate transaction in 28 states.
“Our services cover the entire spectrum of the real estate life cycle: site selection, ownership structure, project finance, concept and value engineering, construction management, redevelopment, and disposition. Our team is passionate about delivering innovative and remarkable solutions for every client,” the firm states.
Besides memories, all that remained Wednesday of the Mid Century Modern-style Sun Valley Motor Hotel, which was built in the 1950s, was a business sign, although the intended name of the square retains the name of the iconic motor hotel.
The motor hotel had started deteriorating rapidly after J. Neil Murphy and his wife closed the hotel in late 2003 due to financial concerns. A fire damaged the property in 2004. Two more fires followed in 2011, but Wednesday, the noises emanating from the site came from the bending and tearing of steel, and wood, and breaking glass.