By Michael V. Hannigan/HCN
There was some good news coming out of today’s Athens Economic Development Corporation meeting.
AEDC Executive Director Lisa Dention said that Texas Holding Management, LLC will be building a new 120-bed skilled nursing facility across from East Texas Medical Center, at Loop 7 and SH 19.
“This will be another great asset for the community, which will not only retain but also create new jobs and add sizable investment to the tax rolls of the city,” said Denton. “It is also a great example the new partnerships that have been formed between partner agencies within the city. We have been working on this project since January, it is exciting to see it coming to fruition.”
The existing Green Oaks Nursing Center will be consolidated into the new facility to retain those 86 jobs and create 20 new, full time jobs over a five-year period. Denton said these jobs would have been lost without the new facility because of new licensing regulations.
Texas Holding is purchasing a 30 acre tract with 10 acres to be used for the new facility. The additional 20 acres will be developed for retail-commercial and professional services. The real property improvements for the facility will be $11 million, with an additional $500,000 in personal property.
AMWA will be partnering with AEDC and the city to extend a sewer line to service the 30-acre tract. The city is currently working through the voluntary annexation process on the property, as well as correct zoning. AEDC has committed $50,050 for engineering and design for the infrastructure project. AMWA has committed $295,000 for construction of the line that will serve the property.
Denton said the project has a net benefit to the city of more than $1.8 million over a 10-year period.