The sale of one of the most significant landmarks in Lubbock, Texas, is adding to revitalization efforts with a new-to-town developer bringing new life to an otherwise condemned property.
Housing Trust Group paid $2 million for the long-vacant In Town Inn hotel, which was built in 1960 as the Jim Kimmel Center. HTC utilized innovative financing strategies for the deal, leveraging tax credits and funds from the Federal Historic Society to pave the way for an affordable housing redevelopment with amenities and other benefits for residents.
The record sale won a 2025 Impact Award as judged by real estate professionals familiar with the market.
About the project: The 65,000-square-foot redevelopment will include homes for low-income renters and amenities ranging from a modern fitness center to a theater area. The project will also include perks for residents including annual income tax preparation and health support services.
What the judges said: "For years, the building has stood as an eyesore, but with this redevelopment, it will play a crucial role in the downtown revitalization plan," said Cathy Potter, vice president of programs and events for the Lubbock Chamber of Commerce. "By restoring a vital piece of Lubbock’s history, the former Jim Kimmel Center will stand as a symbol of growth and renewal for generations to come.”
“The Jim Kimmel Building has been vacant since the late '80s. This buyer is a new developer for Lubbock which is always great," said Karen Higgins, commercial agent with WestMark Commercial.
They made it happen: NAI Wheelhouse broker Joe Magby.