Brownsville’s historic El Jardin Hotel, vacant for decades, has been purchased by a Fort Worth-based environmental remediation firm.
David Jordan, CEO of Ponce and Associates LLC, said Friday that his company closed on the deal early this month and plans to renovate the neglected East Levee Street property. The purchase price was $780,000, he said.
The seller was Marta Martinez, who inherited the hotel from her father, Matamoros businessman Marte Martinez, who died in 2008.
Jordan said the plan is to turn the El Jardin into a multipurpose building with a high-end restaurant on the roof, perhaps four floors dedicated to student housing, and other retail shops and restaurants. He said he’s been approached by restaurants and a bingo parlor concession interested in leasing space.
Jordan said his company would perform the asbestos and lead abatement in-house and that the renovation itself likely will cost between $4.5 and $6.5 million. He said the company intended to cover the cost of renovating the building itself rather than bringing in outside investors.
“We’re trying to do most of it out of pocket,” Jordan said. “It’s been pretty successful so far. It’s a pretty big company.”
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I guess ya just gotta keep on believin'
Yeah!!!
ReplyDeleteAre you going to color it? That would be nice to see.
ReplyDeleteThere are hand-tinted photo postcards from this era already Mario but the real reason NOT to color this would be the newsprint quality of the image doesn't lend itself to a good coloring. It would be like coloring an image on coarse textured paper and it wouldn't look as good as the hi-resolution photos we've scanned from original photos or negative film. Thanks for asking - we have MANY more photos of El Jardin and as this project gets underway we can follow-up with posts of old photos and news of El Jardin's restoration.
DeleteI updated the post with a past attempt I made to color one of these postcards.
DeleteI worked there.very nice place
ReplyDelete