Crombie Properties buys Olney lots
The Olney City Council approved the sale of a block of 10 city-owned lots for $52,000 to Jacksboro-based development and management company Crombie Properties of Olney LLC at a special called meeting on March 20.
The company is run by Kara Crombie, wife of Nine Energy Services Chief Operating Officer David Crombie, in Jacksboro. Crombie Properties has restored and modernized approximately 50 properties in the city of Jacksboro totaling nearly $4 million, according to a proposal submitted by Crombie Properties to Jack County last year to purchase the county-owned Davis Building. Mrs. Crombie is contemplating turning the historical building into an entertainment venue.
Kara Crombie told the Enterprise that their new entity, Crombie Properties of Olney, plans to build single-family homes and “a couple of duplexes.” “We are trying to bring some housing into Olney for people who need it,” she said. “The motivation behind the housing in Jacksboro is the same as in Olney. Jacksboro had housing - the houses were just run down. We started buying up housing and making it livable so people would have somewhere to live.”
Mrs. Crombie decided to expand her largesse after talking with a friend who works in Olney but cannot find housing here.
“We reached out to [Mayor Pro Tem] Tom Parker and he was quite helpful and showed us some properties,” she said. “We will rent some properties and sell some properties and play it by ear. Our hope is to start with 10 lots and if the need arises, we can eventually do more.”
There is no firm date on breaking ground on the first set of homes, which will be two-bedroom, onebath, and three-bedroom, two-bath houses, she said. “We have the plans in place and we are waiting for the deeds … and to do the city fees … but it will be as soon as possible.”
The developer will build three or four houses at a time. The house prices have not yet been set, she said. “I will need to do some research and figure out the cost of things, as far as what houses are selling for there,” Mrs. Crombie said.