Over the past two years, real estate in Kilgore has seen a rise in sales, both residential and commercial.
City Manager Josh Selleck said that a number of businesses have begun to take in interest in Kilgore, with the addition of a new Daiquiri Express, Popeyes and Dairy Queen already planned and under construction, as documented in recent issues of the News Herald.
Selleck said that by the end of the year, the city can expect the number of new businesses to double to six, at least.
“It is an attractive area, and a lot of that has to do with the work the city council has put in,” Selleck said.
But not only is commercial real estate in Kilgore a hot commodity right now, but residential real estate has also been taking off.
In the last two years, Kilgore has added 25 new residential permits, valued collectively at over $3 million.
According to a report generated by Josie Atchley, Kilgore’s permit office manager, even during March this year, at height of the pandemic, the Kilgore City Council still issued a new residential permit.
“We have been focusing for a number of years on increasing the quality of life in the city, and people are starting to take notice,” Selleck said.
He said that real estate in the Windsor Park area seems to be the focus of the growth, with a majority of the permits issued in the last two years focusing in and around that area.
“With all of the changes that the council has put in place over the past 10 years, it really is not surprising that our real estate continues to grow,” Selleck said.
Since the 2008 market crash, Texas is one of the few states that has seen a substantial come back in the last 12 years.
According to a study done by Apartmentguides.com, over 50 percent of the new residential housing units in the country were in the south in 2019, even though only about 31 percent of the country’s population lives there.
This boom, coupled with projects organized by the Kilgore City Council and other local organizations, have come together to create a positive financial impact within the city, even during one of the hardest economic situations within the past decade.
“This is not new. This is something we have been working on for a long time, even before I came here as city manager. The fact that we can get through the current situation as well as we have is a testament to that,” Selleck said.