Lone Star Brewery project is back on with new developer

Plans for the Lone Star Brewery have been resurrected. A local developer is purchasing the complex in a last-minute deal that was reached before being set to sold to its current owners lenders.

Judge Craig Gargotta, U.S. Bankruptcy judge gave the approval Thursday to sell to GrayStreet Partners for $14.45 million.

The deal is set to close Friday (May 1) which they met the deadline outlined in court orders and payoff to BridgeInvest, a lender in Miami which the current owners owed over $12 million.

GrayStreet has plans to develop the 32-acre property into a multi-project complex. It’s just a little too early for any details according to Kevin Covey, a managing partner.