JMK5 Holdings, founded by developer Jerome Karam, is making headlines once again with the highly anticipated transformation of the former Gulf Greyhound Park. The redevelopment project, set for completion in the second quarter of 2025, will introduce a 12,000-seat, Las Vegas-style concert and event venue to Galveston County, promising to elevate regional entertainment and tourism to unprecedented levels.
The project marks a new era for the once-abandoned property situated at the intersection of Interstate 45 and FM 1764. Jerome Karam, founder of JMK5 Holdings, has overseen the ambitious conversion of the run-down greyhound park into a world-class venue designed to host A-list musical performances, school graduations, festivals, and a wide range of large-scale events. Crews are also adding 60,000 square feet of new construction to accommodate up to 12,500 guests, making it one of the premier entertainment destinations between Houston and Galveston.
In addition to the main arena, JMK5 Holdings has repurposed the former dog kennels into 18 luxurious VIP cabanas, each capable of hosting 30 guests, with VIP suites currently under construction inside the venue. The facility is being designed to deliver an elevated experience, from high-end dining options to premium event services, positioning it as a serious competitor to established venues such as the Toyota Center and the Cynthia Woods Mitchell Pavilion.
The economic impact of the project is already evident, with new commercial developments emerging around the site, including restaurants such as Raising Cane’s Chicken Fingers and Salad and Go, and future additions like McDonald’s and Chipotle. City officials are optimistic that the influx of visitors and event traffic will significantly boost La Marque’s sales tax revenue and drive broader commercial growth in the area. Once fully operational, the venue is expected to create over 1,000 jobs during events, further strengthening the local economy.
Jerome Karam and JMK5 Holdings envision this redevelopment as a catalyst for continued investment and revitalization in the region. Future plans include building a hotel adjacent to the concert venue, further enhancing La Marque’s appeal as a major entertainment and tourism hub. By breathing new life into a long-neglected property, JMK5 Holdings continues to demonstrate its commitment to community enrichment and regional transformation.
About JMK5 Holdings
JMK5 Holdings, founded by developer Jerome Karam, is a boutique real estate investment and redevelopment firm based in Friendswood, Texas. Specializing in transforming underutilized properties into vibrant commercial, residential, and entertainment destinations, JMK5 Holdings is recognized for its innovative projects across Texas and Louisiana. With a commitment to revitalizing communities and driving economic growth, JMK5 Holdings continues to shape the future of regional development through visionary leadership and bold redevelopment initiatives.