The Bell City Council, acting as the Redevelopment Agency, has unanimously approved an agreement with Trammell Crow Co. to develop eight acres in the city’s industrial sector.
The property, on Bandini Boulevard between Atlantic and Eastern avenues, formerly contained an armory for the National Guard. The city last year built a new armory several hundred feet away in exchange for the six acres where the Guard had its armory and several warehouses. The city purchased two surplus acres in 1981 from the federal government and combined the two properties for development.
Under terms of the agreement, the Dallas-based company will pay the Redevelopment Agency $2.7 million for the land and construct an office building and two warehouse buildings. The company has guaranteed the city $75,000 in annual income.
The city, which received three proposals for development of the property, “felt Trammell Crow provided the agency with the best project,” said David Meyer, director of community development.