Cornerstone turns into a stepping stone
By Russ Pankonin, The Imperial Republican
The Cornerstone Development in southeast Imperial has become a stepping stone for Imperial’s continued growth and community success.
Just two and half months into 2015, two large commercial lots have already been sold to companies who plan significant investments in new businesses here in Imperial. That means new jobs in the community as well.
The purchase of 77 acres of farm ground on the east edge of town has proved to be a great investment in the future of Imperial.
The goal of the LB840 Citizen’s Advisory Board and Imperial City Council in purchasing the property centered on economic development by providing an area for Imperial to grow.
At an approximate cost of $5,000 per acre, it looked like the city paid far too much for the ground. But with the cost of land escalating over the past four years, it now looks like a really good buy.
The sale of property in Cornerstone has nearly recouped the money paid for the land in the first place.
In addition, having a designated development site in the community was a key requirement for Imperial to achieve another long-time goal—being named a certified economic-development community by the Nebraska Department of Economic Development.
Interest in the property remains high. If this interest turns into more real development, it will give the city the needed impetus to continue improving the infrastructure on East 3rd Street.
This will undoubtedly lead to more growth, just as the addition of 14 new homes has done already.
Cornerstone has truly proved to be the stepping stone for continued growth in Imperial.