The agreement the Port of Corpus Christi reached last week to sell the much of the former Naval Station Ingleside for $102.5 million to a firm planning to convert the site into an offshore oil exploration service center could create up to 2,500 jobs within five to eight years. The deal with Houston-based Canyon Supply and Logistics includes two parcels — the 483-acre main base and 433 undeveloped acres adjacent to it — except for a 100-acre “college campus” section of the naval station, reported the Caller-Times. Canyon retains an option to purchase the campus parcel for $28.5 million.
In a separate transaction, the port agreed to sell a 600-foot, small-craft pier on the naval station site for $8 million to a local firm to expand its existing operation exporting crude oil.
The port had entered an agreement last August to sell the 916-acre site to a local developer who planned to turn the property into a light-industrial, mixed-use business park. Talks between the two parties broke off last December, however, after the developer failed to come up with the required $5 million deposit.