Property Description

Commercial development opportunity on approximately 8.77 acres at 175 Goldsmith Street in Quitman, TX. Located in the Central Business District of the Wood County seat, this level East Texas site offers visibility from TX-154 near Brookshire's, the county courthouse, government offices and UT Health Quitman. Lake Fork is approximately 4.5 miles away, and Wood County Airport is approximately 5.5 miles away. Purchase the entire property or subdivide and purchase individual parcels, subject to final platting and approvals. The conceptual plan identifies Lot 1 Lot 1 (2.45 acres) for hotel development, Lot 2 Lot 2 (6.32 acres) for multifamily apartments. The property remains unplatted to allow flexibility in parcel configuration, amenities and site design. Executed Chapter 380 economic incentive agreements provide incentives for qualifying hotel and multifamily projects. The hotel package includes per-room cash incentives, hotel occupancy tax rebates and city ad valorem tax rebates. The multifamily package includes per-unit cash incentives and city ad valorem tax rebates. Incentives are subject to agreement terms, performance requirements and verification of transferability; cash incentives are payable upon Certificate of Occupancy. City utilities are available at the curb, with access from TX-154 and Horton Street. Explore hotel, apartment and storage development potential near Lake Fork recreation, local employers and downtown services. Buyer to verify acreage, utilities, access, zoning, permitted uses, subdivision requirements and incentive eligibility.

Property Features