Old Stanley Tools building soon to be marketed

Old Stanley Tools building soon to be marketed
Updated: Mar. 22, 2018 at 6:24 PM CDT
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WICHITA FALLS, Tx (RNN Texoma) - The city of Wichita Falls has poured over $2.5 million into the old Stanley Tools building. Now they're just about done fixing it up and ready to market it.

It's been a slow process, but city leaders are happy with the progress.

In April Wichita Falls city council passed two resolutions to improve the look and interest in the building.

Now the 4A board is hopeful a company can be attracted soon.

"Probably within 30 days now we'll be marketing the facility," President of the 4A board, Dick Bundy said. "When they market it they'll be doing videos of the building and be actively marketing it."

Two years ago the old Stanley Tools building was rundown and had a list of issues. Since then tons of work has been done.

"When we got the building when it was donated to us, it did not have a roof on it," Bundy said. "I mean it had a roof, but it was leaking and light fixtures didn't work because of water."

New coats of paint have been added on the inside and outside, electrical work has been done, along with some landscaping.

In April city council agreed to spend $185,000 on the improvements in hopes of attracting a new manufacturer.

"Now I think from an industrial standpoint it looks like a building that is ready to go," he said.

They also agreed to spend $38,000 to hire Holmes Davis, a broker out of Dallas, to market the space.

Bundy thinks it won't be long before that happens. He said he doesn't look at the building as a burden, but rather an opportunity.

"With the public dollars that we're entrusted with, we were able to invest those in that building, because it was given to us, and end up with an answer to what our long-range plan said.," Bundy said. "It's going to bring some exposure to Wichita Falls and start some exposure to manufacturing."

Nearly all of that $185,000 has been spent and power has already been restored to parts of the building.

The city has had the building for about two and a half years after it was donated by Harry Patterson. Bundy said if it wasn't donated, the 4A board would have looked into building a new building.

He added that there's no timetable on how long it could take to attract a business, but said there is interest.

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