The founder and operator of JMK5 Holdings, Jerome Karam, has focused on positively impacting local communities through redevelopment as a real estate developer. Since making the switch from personal injury lawyer to real estate, he feels the best move to make with any new property is to re-purpose rather than rebuild.
With a focus on Texas and Louisiana, Karam’s impact on several communities is already apparent. More projects in development mean he’s committed to this way of making the most out of existing real estate.
Impacting Local Communities with Redevelopment
One of the greatest joys for Jerome Karam is that he can positively impact local communities in both Texas and Louisiana with redevelopment. Many communities have pride in older buildings that have been part of the landscape for generations. These older buildings often have a unique past that helps the communities differentiate from each other.
In an era where developers are constantly bulldozing all buildings and putting in brand new ones that might not fit in, Karam is doing the opposite. The vast majority of local communities love this aspect, as he also gets new businesses in town to fill empty storefronts and offer jobs in the area.
Making the Most Out Of Existing Opportunities
Redeveloping properties is something Jerome Karam has felt passionate about since his early days. Making the most of current opportunities can not only be economical, but it offers excellent locations that aren’t otherwise available. Each new business might not be a perfect fit at first, but hard work and the right capital can get places looking great.
Jerome Karam has a keen eye for finding properties that could use a redevelopment project. Since they are not always in the trendiest areas at the time, he benefits from having less competition because competitors don’t see his vision.
Falstaff Brewery Comes To Life
In 1895, the Galveston Brewing Company was built. It was manufacturing Southern Select Beer for over 60 years before being acquired by Falstaff in 1956.
By the 1960s, Galveston Falstaff Brewery was the third-largest brewery in the country. They produced 1 million barrels of beer per year and were a major employer in the area. However, that success only lasted a couple of decades, as Falstaff moved its headquarters from St. Louis to California. By 1981, the Galveston Falstaff Brewery closed its doors.
Fast forward to 2015, and JMK5 Holdings, LLC acquired the facility. With such a significant facility available, the goal was to redevelop it into three separate facilities to serve different needs. This included a storage facility, a private event venue, and a boutique hotel.
With a building that had 120 years of history during the time of acquisition, Jerome Karam wanted to find ways to preserve the building’s original integrity and architecture. That’s why he was adamant about utilizing the existing spaces and not doing too much as far as change is concerned.
The indoor, climate-controlled storage has four stories of units. It has quickly turned into one of the most highly-rated storage facilities in a convenient location for locals.
The event and wedding venue has a rooftop and ample space for people to enjoy the view. It is secluded enough not to hear much outside noise, providing an intimate setting that allows attendees to feel free to be themselves. Right after opening up, spots began to fill up quickly.
Finally, the 110-room boutique hotel is an affordable alternative to cookie-cutter solutions elsewhere in town. Visitors love the history behind the building and how each room is modernized enough with amenities to make it a memorable day. The location also plays a massive factor in its success as a hotel.
Overall, Karam believes that this is one of the top projects he has participated in. No building built in the 1800s comes without challenges, but he was able to persevere and make each separate facility great in its own way.
Other Impact Projects
With JMK5 Holdings, LLC having a hand in several projects throughout Southwest Louisiana and Texas, what are some of the more impactful ones in recent years? A few stand out for the size of the project and the impact.
World Gym Texas City
Everything is said to be bigger in Texas, and for the World Gym in Texas City, that’s highly accurate. It is now the largest World Gyms in existence, taking over for an old department store in a mall.
For a city like Texas City, this huge project instantly helped out the workout scene locally. It also kickstarted a bigger revitalization of the Mall of the Mainland, morphing into Mainland City Centre.
Galveston Bay Club
One of the first purchases by Jerome Karam is also one he’s most proud of. Being located on the west end of Galveston, he built new homes facing Eckert Bayou.
With space for 18 lots, he believes future residents will think of this area as a perfect place for peace and quiet away from the hustle and bustle of city life.
Sunrise Shopping Center
This Northeast El Paso shopping center was a top retail area at one point. It is now more than 60 years old and requires several improvements to get back in business.
Jerome Karam was able to secure the retail center in 2021. With a history of serving military families, for the most part, he is sure that there is potential in fixing the shopping center up and adding to the existing list of tenants.
Sticking With The Original Plan
Jerome Karam knows that other developers have their plans, but re-development continues to be the central theme for him in Texas and Louisiana. Having an impact on the community makes the projects just a little sweeter.
To look at all projects under JMK5 Holdings, LLC and find out who Jerome Karam is, visit his website.