The Magnolia 4B Community Development Corporation has more than tripled the cost of its estimated $25,000 “Yellow House” relocation project.

The original cost to move the 3,000-square-foot house was said to be $25,000, but came closer to a total of $30,000 once power lines were adjusted, 4B President Jonny Williams said. Now, 4B is making renovations to the house, which will place the final price tag close to $80,000.

Williams has stated that 4B is putting the house back into a rentable condition.

The 4B Corporation is in the process of adding a large front porch, a ramp entrance and an air conditioning unit. Those are the only additions that 4B will finance, Williams said. It will be up to the business who leases the building to make any more changes if they see the need.

“We are not through yet, but we should be by the first of the year,” Williams said.

The goal set for the “Yellow House” is to establish a location of a business that will generate sales tax, employment and an overall enhancement to the Stroll and downtown area.

“We are trying to rent it to someone compatible with the Stroll,” Williams said.

Williams said he has had several inquiries but the city is waiting for the right business to improve the Stroll atmosphere, such as a tea house or restaurant.

“We have had a tremendous interest in the house,” Williams said. “This is a message to the community that it (the house) is doing what it was intended to do.”

Williams added that the amount of community members who show up to downtown events portray that the city needs to revitalize downtown Magnolia, which is the goal intended for the house.

“The reason behind this is to promote downtown and promote the Stroll,” he said.

The 4B Corporation has advertised that the lease on the house is priced at $2,500 per month and 4B will collect the rent in order to offset the cost of the project. Based on the reported lease price, it will take about 2.5 years for 4B to compensate for the project.

The “Yellow House” was originally located on Nichols Sawmill and was donated to the city by Magnolia Bible Church. The church donated it to build their new church facility where the house stood.

The city initially wanted to save the house, built in 1911, because of its historical value. Later, it was determined that the house did not qualify for a historical listing because it had been renovated many times and moving the house voided possible historical salvation.

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