Gibbons Creek Sale

2,742 Views | 10 Replies | Last: 3 yr ago by rsa
EBrazosAg
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AG
https://www.kbtx.com/app/2020/09/24/former-grimes-county-coal-plant-to-be-sold-to-environmental-remediation-company/

Anyone know about the financial health of the purchasing company ? Posting a bond or anything? I can see remediation being expensive..... not saying they are not the greatest company in the world. Just this article is short on detail.
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EliteElectric
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I wish they would develop it like Conroe or at the very least Camp Creek so there was another close lake house option
RGRAg1/75
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AG
EliteElectric said:

I wish they would develop it like Conroe or at the very least Camp Creek so there was another close lake house option

This. Gibbons has become less and less accessible over the years. Very unfortunate.
the pit man
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It's gonna be hard to build houses around the lake. TMPA doesn't own much land past the shore line around it, on the park side there's no room unless you take over the park it's self. Even then you couldn't put many houses.
EBrazosAg
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AG
Correct. There isn't much land around the lake appropriate for residential development.
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AgProgrammer
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AG
Can anyone tell if all of the old mine land is part of this sale? There's some beautiful land between Highway 30 and 244 (and then stretching almost all of the way back to the landfill) that's owned by TMPA. If it hits the market from this new buyer, that's a rather large amount of acreage that will be available.
oklaunion
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I wish they would offer the land that was condemned back in the 70s back to the original owners who didn't want them there to begin with.

I am ignorant about this type of company but I can't see how they make money just on remediation. I suspect Houston/Harris county has birddogged this area for a long term landfill option which would continue Grimes county's history of being crapped on again.
Copperpot
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AG
No idea if this is the case here, but I know there are companies that remediate wetland areas for Mitigation Banking. The Mitigation Credits generated from the remediated wetlands can be used to offset environmental damage in other places or can be sold to other companies to offset environmental damage in other areas. I know some construction companies that perform the wetland remediation and then hold the mitigation credits as an investment. This would be a very good development for Gibbons Creek if this were indeed the case.
ComfortAg
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AG
https://charah.com/charah-solutions-finalizing-execution-agreement-tmpa-acquisition-remediation-redevelopment-gibbons-creek-steam-electric-station-reservoir/
TommyBrady
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I do remediation for coal mines all across Texas and most of that land won't be ready for development for 5-10 years. I believe they are about 65-70% done.There's a lot of money in remediation...most of my jobs will be ongoing past my retirement in 15 years.
rsa
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AG
TommyBrady said:

I do remediation for coal mines all across Texas and most of that land won't be ready for development for 5-10 years. I believe they are about 65-70% done.There's a lot of money in remediation...most of my jobs will be ongoing past my retirement in 15 years.

With current growth patterns that area might be an attractive development space in 10 years.
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