Downtown Amarillo Development Land

Description:

Prime development opportunity in downtown Amarillo.  There are numerous incentives, tax credits and grants available to supplement the costs of development. These include Federal and State Historic Tax Credits, Center City Facade Grants and TIRZ property tax abatement.  This property is located in an Opportunity Zone, Neighborhood Empowerment Zone, Food Desert and a Low Income Housing Census Tract.  It would also qualify for Texas PACE financing.  There is an 8,900 square foot, two story building located on the property that could be redeveloped or torn down.  The owner is currently working with the City of Amarillo to have the alley abated which will add flexibility to the development opportunities.  This would be a great location for a mixed use development, multi-family project or retail business.  Downtown Amarillo is a vibrant and growing area. West Texas A & M University, Sharpened Iron Studios, Amarillo Sod Poodles baseball stadium, Amarillo Globe News Center and the Amarillo Civic Center all bring people to downtown Amarillo.


The property is located on SW 10th Ave in downtown Amarillo and is less than 1 mile from I-40 and Hwy 287.  The area is considered part of the central business district and is located in an Opportunity Zone.  


Opportunity Zone

Commercial, Residential or Mixed Use 

Federal & State Historic Tax Credits

Clean Phase I & II Environmental

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