MARBLE FALLS — Potential economic development has prompted the owners of a 21,000 square-foot building to demolish an unoccupied structure considered a landmark for 30 years in the eastern entryway of the city.On July 23 and 24, crews tore down the structure built in 1986 as a school district facility. Through the years the property has served as vehicle maintenance shops and an auto salvage yard.
Owners Dr. Fakhruddin “Dean” Hasta and his wife Fatima live in California and are looking for either a buyer or someone to lease and develop the property.
“We are working in conjunction with the city of Marble Falls and the Economic Development Corporation and our (real estate agent),” Hasta said. “Apparently, there is some need for some development project.”
The demolition effort came about after the city of Marble Falls building inspector approached the owners Feb. 3 with concerns about code violations within the aging building.
“Unfortunately something had to be done with the building being old,” Hasta said.
Trey Berry, a Realtor with Coleman Team Realty has worked with the owners to prepare the property.
“It is a prime location right by our high school as well as Colt Elementary, and of course Faith Academy right down the road,” Berry said. “On that side of Highway 281 — about 10,000 vehicles is the estimated traffic and 7,000 of those stop at that (RR 1431) intersection (at Mustang Drive).”
With guidance from economic development officials, Berry has made initial contacts.
“I have already reached out to Stripes, Valero and Dunkin’ Donuts because it has come to my attention that those are three entities that would like to expand their reach to our area,” he said. “Whether you’re a small restaurant, yogurt place or anything like that, that’s a prime location.”
Berry plans a multi-media marketing strategy for the property.
“I’m going to be using a drone that we use to market our residential properties as well. It just gives you a neat marketing perspective,” he said.
To see drone images following the first day of demolition, click HERE
The images will also help preserve the past, Berry added.
“We are doing some aerial footage to watch the demolition process,” he said. “That will salvage some of that history. We can go back and see what it was before.”
Hasta hopes developers might consider something for the youth of the community.
“It seems like the traffic on 1431 is increasing,” he said. “Perhaps someone will think about building something like a (skating) rink or a bowling alley. Various ideas can be entertained.”