Jerome Karam, JMK5 Holdings Has New Projects in Development
A wide array of projects are currently under development with JMK5 Holdings. Jerome Karam, founder and operator of JMK5 Holdings has continued looking for redevelopment opportunities in the regions he specializes in.
Projects continue to pop up in the greater Houston area, Friendswood, or anywhere in Southwest Louisiana.
A few of the most significant projects are already receiving headlines locally. Jerome remains focused on his favorite areas of the country, but he’s also branched out more for the first time. Thanks to Jerome Karam’s reputation and company, communities can’t wait to see the finished projects.
World Gym Houston
The former home of Cossaboom Family YMCA, this Houston location, needed work done before re-opening. Jerome Karam purchased the property in 2018 and wanted to keep fitness as a central theme. He found a way to bring World Gym Houston in as a unique 5-Story Fitness Center option for the area.
With the extra space, Jerome repurposed 45,000 ft.² of the building for self-storage. This instantly serves another need for the area, as it lacked nearby spaces to rent.
Right Move Storage Alvin
The former Alvin Hospital became a vacant building with plenty of potential once its doors closed. Jerome Karam purchased the property in 2019, and he crafted the plan to create high-end, climate-controlled self-storage.
The city of Alvin, Texas, didn’t have many options like this to choose from, especially nearby the residential area. He plans on sparing no expense and getting the storage facility right to attract people who care a lot about their stuff inside.
Self-storage continues to be a theme in many of the redevelopment projects for Jerome. The demand is there, especially for specific properties close to urban areas. Having a storage unit close to home is enticing for many people with a collection of things.
JMK5 Holdings’ Kmart Redevelopment
The fall of the national big box department store Kmart has left a lot of communities with an eyesore of a building. Redevelopment projects are nothing new for Kmart properties, but JMK5 Holdings specifically has plans in Sandsprings, Oklahoma, and Memphis, Tennessee.
These Kmart redevelopment projects are very intriguing for a variety of reasons. To start with, JMK5 Holdings is stepping away from its main areas of expertise in hopes of growing the company more than ever.
Another selling point of these projects is that the goal isn’t to replace Kmart with another single department store (or any single tenant, for that matter).
Instead, the redevelopment project breaks up the retail space into several storefronts to go along with storage in the back.
Redevelopment projects like these can help Jerome Karam and his team gets a footing in new areas. Once word spreads that they are behind successful redevelopment projects working with unused buildings, it can lead to more significant projects down the road.
The Commodore on the Beach
Locals in Galveston know all about the Commodore on the Beach. It’s long been a perfect location in the heart of the tourist district in the area. The project instantly became a favorite for Jerome once available.
Current plans include refreshing every room and making the pool great again. Nothing is official yet, but he also has talked with Wyndham Hotels and Resorts to see if there’s a chance to brand the building.
The Galveston area is no stranger to Jerome Karam’s projects. If he can successfully win people over with a new look for the Commodore on the Beach, it will undoubtedly open up more opportunities when they arise.
Gulf Greyhound Park
The most talked about new project JMK5 Holdings is working on is the redevelopment of Gulf Greyhound Park. A beloved site for entertainment in La Marque, Texas, fell on hard times shortly after the COVID-19 pandemic and closed its doors after almost three decades of serving the community. Jerome Karam stepped in and instantly started crafting ideas for redevelopment.
For several reasons, taking on a project like this is tricky, but the Gulf Greyhound Park left big shoes to fill. Many locals had a particular attachment to the park, so redevelopment plans must be done tastefully.
City leaders have been quoted saying this could be the most important economic news in 30 years for the La Marque community. They see it as an entertainment venue where they can bring big acts from around the United States.
This would not only give locals a venue close to home, but it would bring in out-of-towners who would then spend money elsewhere in the community.
Like all projects of this size, it takes time for Jerome to put together the right plan to utilize as much of the 88 acres of land as possible. This will save money on the project for Jerome’s company, but it allows visitors to see some of the old blended in with the new.
Growing JMK5 Holdings the Right Way
Jerome Karam has taken his time growing JMK5 Holdings the right way by finding opportunities that make the most sense. While other development companies look to grow as fast as possible, Jerome prefers to take a more calculated approach.
The reward for being careful with taking on only great opportunities and passing on others is the amount of detail each one receives. Instead of a project feeling rushed through, JMK5 Holdings takes the time to get it right. It’s hard to get that same level of detail from competitors.
Getting a sneak peek of what’s next for JMK5 Holdings isn’t always the easiest thing to do. That’s because Jerome Karam prefers to keep things quiet until things reach a particular stage during the early process. He doesn’t want plans to fall through because of leaks.
Anything formally announced will be on their website. JMK5 Holdings has tabs that talk about everything in development. There’s also a news tab to keep up with any information that hits the internet.