Waco: Containery’s controversial colors to change under West Coast buyer
WACO, Texas (KWTX) - Things are finally looking up for a Waco development that’s had a lot of hype, controversy and been foreclosed on.
RAD LAB, an architecture and development group from San Diego, Calif., is under contract to purchase The Containery in downtown Waco.
“I would say it’s very serious. They’ve spent a lot of time and a lot of money, not only traveling here, but working on their plans for it,” said Gregg Glime, commercial realtor for the property.
“Everybody’s really excited right now. It’s kind of a team effort from both the bank that’s selling it, TFNB, to the RAD LAB guys who are buying it.”
Glime says, as the original developer had intended, the San Diego team is also planning to keep retail on the ground floor with residential and hotel-type uses on the upper floors.
However, the containers’ bright, rainbow colors, which have drawn heavy criticism from City of Waco officials, will be canned.
“The colors are not staying the same,” said Glime. “I saw some renderings this past week when they were here, and they looked very sharp what they were planning on doing with it.”
The team is in town right now working through their feasibility period for the building, Glime says, and things are looking good.
“Everybody’s excited, it’s on track,” said Glime. “We probably still have another couple months to go but it’s in the right place right now.”
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