Diamonds Grocery as seen from the NE side.
By Mary Jane Farmer for the Van Alstyne News
The end-of-year saw city groups making two major real estate purchases.
The Van Alstyne Community and Economic Development Corporation, a non-profit organization funded by dedicated sales tax, purchased both the now-closed Diamonds Grocery and the historic and former First Baptist Church building, sharing the property line on Marshall Street. The total for these two purchases is $2.6 Million with the old Diamonds building going for $1.4 million and $1.2 million for the church.
Former First. Baptist Church. The new church is at 565 Collin Mckinney Pkwy.
VACEDC executive director David Ellis explained that is the development corporation’s mission is “foster the commercial and retail business community in Van Alstyne while also enhancing the quality (of life) for its residents.” He added that they recruit and retain quality business that increase the commercial tax base and bring quality jobs to the city. By growing the commercial tax base, the city can provide the quality services citizens demand such as public safety, roads, parks and trails while reducing the property tax burden.
On December 20, the CDC closed on the purchases, with secured funding with Sales Tax Revenue Bonds. The City Council approved all this at its November 20 meeting. Ellis said they did offer to lease Diamonds back to its former owner for $1 per year, if he should want to reopen another grocery store, but the owner declined in favor of retirement.
The first and most important goal for the corporation is to market the Diamonds location to another grocer. If that isn’t done, they will continue to market another grocery store to come in another location. For the time being, Dollar General has a limited supply of groceries as do the various convenience stores.
Diamonds Grocery, as seen from the south side.
The Corporation allowed the First Baptist Church to retain ownership of the old building’s stained-glass windows, which were carefully removed and given to parishioners. Ellis said, too, that the new church plans to donate some historical items to the city’s museum and the Corporation may use some others for the CDC’s potential use in a future development.
There are no set-in-stone immediate plans for either building, but there will not be demolition nor will either be turned into a parking lot. The CDC is working with a consultant to evaluate the properties, conduct a market study and determine the highest and best use. They will work with an architect to produce renderings and other materials to market the property. “Lastly,” Ellis said, “we will locate a quality developer who shares our community’s values and can deliver a project that will make us proud.” There is a need to develop the downtown to be a center of civic activity, shopping, cultural experience and other activities, Ellis added.