TEMPLE, TX (April 5, 2019) – On Thursday evening, City Council adopted a resolution
authorizing a development agreement to provide Strategic Investment Zone (SIZ) grant
funding for development of downtown property at 103 East Central Avenue.
The City of Temple is committed to establishing long-term economic vitality in SIZ
corridors, encouraging redevelopment and diversification. Downtown Temple is designated
as its own SIZ area, which allows property owners to apply for matching grant funds
primarily for the rehabilitation of visible facades, landscaping and life safety-related interior
improvements. “We are excited to announce that another historic downtown building will be
rehabilitated for a mixed use residential retail project,” says Temple’s Director of Planning,
Brian Chandler. “The Professional / SPJST building was completed in 1929 as the
“Professional” building for office and retail tenants. In 1953, the SPJST headquarters were
moved to the building, as well, to account for another significant period in the building’s
history.” The approved grant allows the developer to receive up to $115,000 in matching
funds and up to an additional $30,000 for residential units in a mixed use project.
The developer, VKDM Investment, LLC, plans to invest approximately $3.8 million in the
adaptive reuse of this landmark for apartments on floors two (2) through six (6) with retail on
the ground floor and a rooftop deck. The project scope consists of interior renovation,
including fire suppression, façade improvements, and an elevator installation.