Daily Progress, Jacksonville, TX

Local News

January 28, 2013

BUSINESS CONFIDENTIAL: The loss of Lon Morris College may mean the gain of affordable Jacksonville homes

JACKSONVILLE — If well-wishes are any indication, William Adcock's tentative acquisition of some Lon Morris College property during the recent LMC auction might be the harbinger of several more affordable homes in the city.

Adcock, 64, who owns numerous (NUM-ER-OUS) properties throughout the city, believes he can help something good can come out of the LMC bankruptcy, which was declared in July, involved a recent auction, and will be concluded once a federal judge okays the purchases on Feb. 4.

Adcock was the third highest bidder to acquire Lon Morris property during the  LMC auction.

It was announced by press release Tuesday that Adcock had the winning bid on LMC's Cypress residential cottage, college security offices, chaplain's home, Morris Hassel Alumni & Student Center, Sycamore Cottage student housing, Elm Cottage student housing, and two rental properties.

In all, the bids totaled around $2.2 million, although the individual amounts are currently under seal until the conclusion of the bankruptcy proceedings.

Adcock was not able to reply to a reporter's request for an interview when the press release came out Tuesday, but called him back early Wednesday to discuss his plans.

First and foremost, Adcock said he wished Lon Morris could have stayed open and financially afloat and its loss is a huge blow to the city.

"It's really sad when something like this happens," Adcock said. "We have plenty of other properties we could buy, but we wanted to help out the college."

Adcock said he generally purchases his real estate to affiliate with the United States Department of Housing and Urban Development for owner financing and—  if owners can come up with it in this economy — affordable down payment.

"That's what we do," he said. "We try to put affordable houses back out there into society, instead of letting them become dilapidated crack houses. We have a specific plan for doing this."

Representatives of the  other two high bidders, Jack Webb of 11x17 and the Jacksonville ISD, have indicated they also hope that their purchases can be for the good of Jacksonville in light of the tragedy of the Lon Morris loss.

Time will tell.

Text Only
Local News
  • Cuney Council cancels meeting, again

    Tuesday's Cuney City Council meeting – in which local alderman were to vote on canceling a May 10 election due to unopposed status of candidates – was canceled because of a lack of quorum, according to City Secretary Brenda Lankford.

    April 23, 2014

  • Sen. Nichols speaking.tif Senator Nichols speaks to Jacksonville Leadership Institute

    State Senator Robert Nichols (R) spoke to the Jacksonville Leadership Institute Tuesday regarding the role of government in Texas.

    April 23, 2014 1 Photo

  • Jacob.tif Local boy recovering from campfire accident in Dallas hospital

    Jacob Sessions of Jacksonville was burned on 71 percent of his body on April 5 from a campfire accident. He is currently in Parkland ICU due to his injuries, according to a representative for the family.

    April 23, 2014 1 Photo

  • THOMPSON, CEDRICK.tif Cherokee County woman found dead

    At approximately 9:35 a.m. Sunday,  Kayla Nicole Thompson, 27, was found deceased in the driveway of her residence, located in the 1500 block of County Road 3201,  just West of Lake Jacksonville.

    April 22, 2014 1 Photo

  • BullardFUNRUN.tif Bullard Education Foundation sets record with event

    The Bullard Education Foundation hosted its 4th annual 5K /Fun Run, “Strides for Excellence” on Saturday morning, April 19.

    April 22, 2014 1 Photo

  • Fire destroys Sims Avenue residence

    Jacksonville Fire Department responded to a fire in the 900 block of Sims Avenue early Saturday.

    April 22, 2014

  • Community library on council agenda

    The Bullard City Council will met at 6 p.m. today at Bullard First Baptist Church, 1428 S. Houston, for the regular board meeting.

    April 22, 2014

  • Council to mull election, roads

    The Cuney City Council will meet at 10 a.m. today at the Cuney Municipal Building.

    April 22, 2014

  • Christian Rapper 0419.tif Local rap artist spreads the 411 on Jesus

    "I have seen things in my life that would make Dr. Phil crazy," Jacksonville native, ordained minister and aspiring rap artist Stephen I. Crow Jr. said with a laugh. "That's why I don't label my music specifically as "Christian rap" -- yes, Christians who love rap can listen and hopefully be uplifted, but I truly want and am trying to bring the word and Jesus' message to people who may never have heard it or don't believe it's for them.

    April 19, 2014 1 Photo

  • Tomato Bowl flushed to bottom of priorities

    The historic Tomato Bowl, built in 1940, stands strong on the outside, but according to some people the inside needs a lot of work in order to not be an eyesore.

    April 19, 2014