Former Plaza Hotel Site's Future Remains Uncertain

You've probably noticed by now, the Plaza Hotel in College Station has sat empty on the corner of Texas Avenue and University Drive.

You'd think someone would have snagged the prime real estate location by now.

The hotel closed in June after a series of maintenance and financial problems including having the power cut off for non payment.

The property has been tied up in bankruptcy proceedings since that time but interest in redevelopment possibilities continue.

When you travel through Bryan / College Station , it's hard to miss the Plaza Hotel and the hard times it's fallen on.

The 17 story, 300 room hotel closed in June after a series of financial and maintenance problems.

J.J. Haas sees the emptiness of the once busy hotel everyday. He works at the gas station right across the street.

"It seems odd, it seems like a good spot you know something should be in there so why not?" said J.J. Haas, a cashier at the Exxon Express Mart.

Haas would like to see redevelopment come sooner rather than later and misses the money customers used to bring in.

"Well I mean it's definitely, I don't know if it's affected our business a whole lot but we did receive a lot of business when it was you know open we did get a lot of foot traffic so you know sure, we'd love to see it reopen again," Haas said.

David Gwin is the Director of Economic and Community Development for College Station and said interest continues in redeveloping the sprawling property and adjacent 12 acres.

"That process can take a lot of time what we're really right now fielding are inquiries about people who are interested in an opportunity to do some redevelopment. No one would argue that that's probably one of the best geographic locations in Brazos County," said Gwin.

Gwin said while the city would like to see it reopened soon, it's hard to predict when that could happen.

"The city's not really in a position to be able to change that or dictate that at all because the challenge really here is the financial situation between the ownership and the lending institutions that held that property as collateral," Gwin added.

"Just sitting there it's not useful to anyone just sitting there," said J.J. Haas.

A site that still shows no signs of change.

According to the Brazos County Tax Office, the Plaza property was appraised at $3,208,470 for 2010.

Just a few years back in 2008, it was valued at $4,502,150.

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