A bold transformation is underway in La Marque, Texas—one that promises to reshape the region’s entertainment landscape and spark long-term economic growth. JMK5 Holdings, led by visionary developer Jerome Karam, is breathing new life into the iconic Gulf Greyhound Park, converting it from an abandoned relic into a cutting-edge, 12,000-seat concert and event venue.
Slated for completion in the second quarter of 2025, this ambitious redevelopment project stands as one of the largest of its kind in Galveston County. Designed to rival major venues such as Houston’s Toyota Center and The Woodlands’ Cynthia Woods Mitchell Pavilion, the venue aims to draw national talent, regional events, and a wave of tourism to La Marque.
But this is more than just a concert hall—it’s a symbol of community revival, smart investment, and the power of visionary development. At the helm, Jerome Karam and JMK5 Holdings are once again demonstrating their deep-rooted commitment to transforming underutilized spaces into hubs of culture, commerce, and connection.
Breathing Life into a Forgotten Landmark
Long before the sound of construction echoed through its halls, Gulf Greyhound Park stood as a hub of racing excitement. Once the largest greyhound track in the country, the venue had fallen into disrepair in recent years—its stadium seating empty, its gates closed, its purpose uncertain. Where some saw a forgotten property, Jerome Karam saw potential.
In 2022, our company acquired more than 88 acres of the former greyhound park, strategically located at the crossroads of Interstate 45 and FM 1764. The site’s size and accessibility made it an ideal candidate for redevelopment—and the vision was clear from the beginning. Karam and our team set out to transform the dormant space into a beacon of entertainment and opportunity for La Marque and beyond.
This isn’t the first time we have taken on a project others deemed too ambitious. Known for their work revitalizing properties across Texas and Louisiana, our firm has a reputation for turning underutilized spaces into thriving centers of activity. Gulf Greyhound Park would be no exception.
Rather than demolish and start anew, the development preserves key elements of the original structure—an homage to the site’s legacy—while seamlessly integrating modern architectural and entertainment upgrades. In doing so, JMK5 Holdings honors the past while paving the way for an even brighter future.
Building a Las Vegas-Style Venue in Texas
When completed, the new venue at Gulf Greyhound Park won’t just be the largest in La Marque—it will be one of the most dynamic entertainment spaces in all of Southeast Texas. Designed to host concerts, festivals, school graduations, and a variety of large-scale events, the 12,000-seat venue promises to deliver a Las Vegas-style experience closer to home.
At the center of the project is an ambitious reimagining of the existing structure. Construction crews are renovating the original facilities and adding more than 60,000 square feet of new space to accommodate up to 12,500 attendees. The arena will be equipped with state-of-the-art sound systems, lighting, and stage technology to support high-profile performances and immersive experiences.
Elevating the guest experience even further, our company has transformed the venue’s former dog kennels into 18 luxurious VIP cabanas, each capable of hosting 30 guests. In addition, premium VIP suites are under development within the main arena, offering exclusive views and high-end hospitality services.
As Jerome Karam describes it, the goal is to create more than a performance venue—it’s about setting a new standard for regional entertainment. With upscale dining options and a focus on guest comfort, the facility is poised to rival major venues like the Toyota Center and Cynthia Woods Mitchell Pavilion.
This project is not just about music—it’s about creating memorable moments, attracting world-class talent, and providing the people of La Marque and the surrounding areas with a local destination they can take pride in. And under the guidance of JMK5 Holdings, that vision is quickly becoming a reality.
Economic Impact: A Catalyst for Local Growth
Beyond its entertainment value, the redevelopment of Gulf Greyhound Park is already generating tangible economic benefits for La Marque. What was once a dormant property is now a magnet for commercial activity, job creation, and renewed civic energy—thanks to the vision of Jerome Karam and the strategic execution of JMK5 Holdings.
The venue itself is expected to support over 1,000 jobs during events, spanning everything from technical production and security to food service and logistics. These aren’t just short-term construction opportunities—they represent ongoing employment for local residents and long-term career paths in the event and hospitality industries.
The momentum doesn’t stop at the venue’s gates. Surrounding parcels have already begun to transform, with restaurants such as Raising Cane’s Chicken Fingers and Salad and Go already open for business. National chains like McDonald’s and Chipotle are slated to join them, signaling a wave of commercial confidence in the area.
City leaders have taken note. Mayor Keith Bell has praised the development for its economic ripple effect, emphasizing how the influx of visitors and businesses will increase sales tax revenue and enhance the city’s ability to fund public services. “Anytime you have people moving through your city on a common, consistent basis… it boosts your sales tax revenue,” Bell stated in a local interview.
By transforming a neglected property into a vibrant destination, JMK5 Holdings is helping redefine La Marque as a growing hub for commerce, culture, and community development.
Vision for the Future: Beyond the Concert Arena
While the concert venue is undoubtedly the crown jewel of the Gulf Greyhound Park redevelopment, it represents only the beginning of a broader, long-term vision. Jerome Karam and JMK5 Holdings are not merely developing an entertainment facility—they are laying the groundwork for a multifaceted destination that can serve the community in diverse and lasting ways.
One of the next major phases includes the construction of a hotel adjacent to the venue. This planned addition will offer both convenience for out-of-town visitors and extended economic benefit to La Marque, accommodating concertgoers, business travelers, and tourists alike. The hotel will not only enhance the visitor experience but also contribute to the city’s hospitality tax base.
Additionally, JMK5 Holdings has sold parcels of land to other developers, such as Main Street Commercial Partners, which is actively building a nearby commercial center. These partnerships allow for complementary growth, ensuring the district evolves into a well-rounded, self-sustaining ecosystem.
The long-term potential of this site is immense. From entertainment and lodging to dining and retail, the area surrounding Gulf Greyhound Park is evolving into a vibrant destination—positioning La Marque as a rising star in Galveston County’s development landscape. And with Jerome Karam’s track record of visionary projects, there’s every reason to believe the momentum will continue.
Why This Project Matters: Our Commitment to Community
At the heart of every JMK5 Holdings project is a simple yet powerful mission: to revitalize underutilized spaces in ways that uplift communities. The redevelopment of Gulf Greyhound Park is a textbook example of that mission in action.
Jerome Karam has long believed that real estate isn’t just about property—it’s about possibility. Whether transforming historic landmarks or forgotten shopping centers, Karam’s work consistently reflects a deep respect for the past and an unshakable optimism about the future. That ethos is evident in every brick, blueprint, and beam being installed at the new concert venue in La Marque.
Previous projects—like the reinvention of the Mall of the Mainland or the adaptive reuse of the historic Falstaff Brewery—showcase how JMK5 Holdings excels at turning vision into value, not just for investors but for entire cities.
This transformation is about more than entertainment. It’s about jobs. It’s about pride. It’s about redefining what’s possible for a community that deserves more. As this once-forgotten racetrack becomes a symbol of renewal, JMK5 Holdings reaffirms its promise: to invest boldly, build smartly, and serve communities with purpose.
Marking a Milestone in Regional Development
The redevelopment of Gulf Greyhound Park into a premier entertainment destination is more than a construction project—it’s a statement about the power of vision, investment, and community spirit. Under the direction of Jerome Karam, JMK5 Holdings is not only transforming a once-forgotten space, but also reshaping the future of La Marque.
With its grand opening set for the second quarter of 2025, the 12,000-seat venue will usher in a new era of entertainment, economic vitality, and civic pride. It stands as a testament to what’s possible when bold ideas meet strategic action—and when developers lead with heart and purpose.
As the finishing touches take shape, excitement continues to build across Galveston County. And with this milestone project, JMK5 Holdings reaffirms its position as a driving force in regional transformation—one project, one community, and one legacy at a time.
