Business
Texas LIG Assets Inc. Contracts Historic Buildings in Downtown Dallas
Texas LIG Assets Inc. Contracts Historic Buildings in Downtown Dallas.
About this update from Lig Assets, Inc.
[{"type":"text","content":" Texas LIG Assets New Public Company Contracts MasonicDallas Investor Redevelops Masonic Temple into Multiplex Cinema LIG Assets Inc, a Dallas based Investment company has contracted for purchase the Masonic Temple in the historic Harwood district in Downtown Dallas. The historic landmark, built in 1941, is set for conversion into a multiplex cinema serving the rapidly growing residential community in downtown Dallas. “The commercial residential market downtown has begun to stabilize and we want to be there to serve that market.” says LIG Assets CEO Jeff Love. LIG's 28 year old CEO is creating even more opportunities for Dallas sites to come downtown. Says Love “We are working toward contracting several notable downtown buildings to convert into residential and retail spaces.” A major player in the revitalization in historic downtown Dallas, Love's business benefits the entire city “We recognize the Harwood historical district is a very special and beautiful part of Dallas. “ says Love. ”but there are other parts of downtown that are just as beautiful”. This city district represents a cross-section of commercial architecture from the 1880s to the 1950s. Styles include Italianate to Beaux-Arts, Sullivanesque, Neo-classical, Renaissance Revival, Art Modern, Art Deco and Modern. At the turn of the twentieth century, Harwood Street was a major thoroughfare to The Cedars now known as Cedar Springs and the Uptown area. In the 1920s it was scene shop row, home to the city's vaudeville suppliers. In 1990 the area was designated a local historic district. The area became part of the larger Dallas Downtown Historic District in 2009. “We will be able to leverage some assets well as utilizing funding available through state tax credits and the Historical TIF provided by the City of Dallas.” According to the Texas State Office of the Comptroller, “Tax Increment Financing (TIF) is a tool that lawmakers gave local governments to help restore blighted areas or economically challenged sections of a community. A Main Street district can benefit from the creation of a TIF because the funds generated from the collection of TIF monies can help to revitalize buildings and infrastructure in the downtown area.” Recently completing the pur...