The Magnolia 4B Community Development Corporation is still searching for the right business to lease or buy the “Yellow House.”

4B member Jonny Williams said he has had several inquiries on the property, including businesses who wish to use it as an office building, tea room or boutique.

Williams says he would like to see the building become a restaurant.

“Office buildings don’t fit the goal,” he said. “We want it to fit with The Stroll.”

He explained the goal is for a business to move in that will generate sales tax and enhance the overall atmosphere of The Stroll.

Pictured is the “Yellow House,” located on the Stroll in Magnolia. The house is currently for lease or sale by the city. The 4B Community Development Corporation is working to add air conditioning and a parking lot.

At its regular meeting held May 12, 4B discussed working with a real estate agency to lease or sell the “Yellow House,” located on the Stroll.

The city is working to add air conditioning and a parking lot, which will need pipes placed in the ditch for water flow, to the house before selling or leasing the property.

Prior to moving the home from its previous Nichols Sawmill location, Williams said that the copper wire was stolen, which is why 4B has delayed putting in an air conditioning unit during its renovation.

The parking lot will be on the north side of the building covering the ditch in that area, Williams said. The 4B Corporation will submit plans to the city in order to obtain a permit to establish a parking lot, according to City Administrator Paul Mendes. The plans will need to show that 4B has established proper water drainage and water flow.

“We will have the permit inspected and approved to make sure that there will be no negative affect on other property,” Mendes said.

Once all renovations are complete, 4B will have the property and building appraised.

Pat Zaiontz, 4B member, said he could see the house selling for $250,000. If the house were to be leased it will cost renters $2,500 each month, with the first and last month’s rent due first, Williams added.

The city has already invested $175,000 into the “Yellow House,” according to 4B President Frank Parker.

Costs have accumulated from moving the home, which costs the city nearly $30,000. Additional costs have mounted from renovations, such as the large front porch, ramp entrance and imitation brick to line the bottom of the house.

Zaiontz said the final price tag to move, renovate and construct a parking lot will be close to $210,000, “when we’re done with everything.”

The original cost estimate to move the house to its current location was $25,000.

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