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OLDA near deal with The Hocker Group to develop Oldham Reserve

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By The Staff

Members of the Oldham-La Grange Development Authority are close to reaching an agreement with The Hocker Group to develop a portion of Oldham Reserve.

Don Basham, OLDA chairman, said OLDA met this past Thursday and approved some changes to the agreement, which they then sent back to The Hocker Group.

Negotiations stopped last year between the two, mainly due to the state of the economy, Basham said, and some infrastructure improvements associated with Oldham Reserve. 

The improvements include an overpass and a road connecting Oldham Reserve to the interstate.

OLDA received a proposal from The Hocker Group – who plans to develop a portion of the property with several retail businesses. Basham said Hocker also plans to look at helping develop the rest of Oldham Reserve. 

OLDA hopes to have three components to the property – a retail, office and residential component – Basham said. The next step, he said, will be working on the residential component.

Basham said within the next 30 days, he hopes OLDA and Hocker will be in the position to say they’ve reached an agreement and release its details to the public.