A Houma investor has purchased a historic Government Street building across the street from Electric Depot and Red Stick Social.
Timothy Clark bought the three-parcel property for $350,000, or $51 per square foot, according to commercial sales records filed last week. He’s among several investors who have been eyeing the 6,810-square-foot space, which is considered ideal for redevelopment.
What exactly will pop up on the site has yet to be determined. Lauren Richmond of RE/MAX N.O. Properties, who represented the buyer in the deal, says Clark is “keeping his options open,” adding a microbrewery was a “passing thought” once considered.
“He has to clean it out first, and that’ll take six to nine months,” Richmond says. “It will be retail of some sort, but he’s pretty open right now to what’s going to go in there.”
Representing the seller was Robert Pettit of Walters & Pettit Commercial Real Estate, who says once the building is refurbished it “will be a great asset for the community.”
The building is also within a qualified opportunity zone, meaning Clark is able to stack historic tax credits and opportunity zone incentives to redevelop the property.
Clark could not be reached for comment before this afternoon’s deadline.
