Gray Insurance presents new plan
Friday, November 14, 2008 9:45 AM CST
Gray Insurance submitted a new plan to the Hammond Northshore Regional Airport Authority Thursday that still includes a multi-million dollar office and hangar facility. The board approved the concept of the plan unanimously, but is waiting for leasing specifics before approving the final plan.
The new plan could be approved within the next week.
According to multiple sources, the Hammond airport is located ideally between Jackson, Biloxi, New Orleans and Baton Rouge, and is primed for growth because it is considered hurricane protected.
The new plan is similar to the original plan submitted over a year ago to the board minus a seven-floor office building that would have housed its corporate office. Gray owner Michael Gray said he still desires to relocate his corporate office to Hammond and is strongly considering the 435 acres he currently owns north of Vineyard Road as his best option.
The first of three phases planned for the 12.3 acres of property he is interested in is located on the south end of the airport and fronts U.S. 190. Approximately 120,000 square feet of the property would be developed, which would include 40,000 square feet of hangar space, 40,000 square feet of office space and 40,000 square feet divided between parking space and a ramp.
“Like the first plan, we want to build something we are pushed out of,” said Matt Hardey, Gray Insurance consultant. “The design and plan may change according to the market, but we want to fill the space and build more of it.”
Gray Aviation, a subsidiary of Gray Insurance, currently operates a Hawker 1000 twin jet and has two Eclipse 500 business already housed at the Hammond airport. The office and hangar space would be reserved to Gray Aviation operations but would also include other services that could attract more aircraft to the airport.
“Income to the airport is critical,” Hardey said.
If the market calls for more hangar and office space, Hardey said the company would move forward with phase two and phase three if necessary. Both phases two and three are similar to phase one.
A phase four of the plan does exist, which includes the building of the corporate office complex Gray wished to build in its original plan submitted to the Federal Aviation Administration. The plan, which included three large hangars and a land swap of 80 acres north of the airport, was denied by the FAA in August because the Gray corporate office would not directly benefit aviation, which is required in its policy.
“We proposed something never done and something the FAA has never done,” Hardey said.
Because Gray is asking for a lease this time and not a land swap and non-aviation office building, the new plan will not require special FAA approval.
Brennan David can be reached at 254-7834 or reporter@hammondstar. com.