Bonham, Texas -- The increase in interest rates may have temporarily cooled the housing market nationwide, but the surge in commercial development along the Hwy. 121 North corridor in Bonham continues unabated.
Fannin County residents are excited about the 60,000 sq. ft. Fix & Feed Bonham Hardware building that is rapidly taking shape on the southwest corner of Hwy. 121 and U.S. 82. The new building could be operational by late spring.
There are 10 lots with frontage on this parcel of land and the next project here is likely to be a convenience store/gas station facing U.S. 82 on the north end of the parcel. This convenience store will offer truck refueling, but no overnight parking.
Across Hwy. 121, on the east side of this development is a 30-acre parcel of land that is being studied for a mixed-use development once water and sewer are available.
South of the new Fix 'n' Feed building, between Wal-Mart and the TexomaCare Bonham, is additional prime real estate. A quick-serve restaurant is eyeing this location and there are three more lots with frontage in this parcel.
Further south, on the east side of Hwy. 121 between Braum's and Aarons, are three pad sites owned by the city where dirt work continues in order to mitigate drainage issues.
Construction on Bonham's second flagship hotel, Best Western Plus, has been slowed by the back ordering of key equipment such as elevator components and certain railing. In addition, contractors have been hard to find to complete certain jobs within the hotel.
Although construction of new homes has slowed significantly, several builders are busy building duplexes and townhomes. The remodeling segment of the industry continues at a hectic pace and there is a strong interest in land acquisition.
