News Stories

McDougal Company founders set retirement

Written by McDougal Companies Monday, 14 October 2013 14:50

October 14, 2013


McDougal Company founders set December 31 retirement

 

Delbert McDougal, CEO and Carolyn McDougal, Exec. Vice President will step aside from their housing, construction and real estate company on December 31

 

“Carolyn and I have been blessed to have both sons work in the company for many years, and we are ready to turn the reins over to them so we can enjoy more time with our grandchildren,” McDougal said.

 

While officially retiring and leaving the CEO role, Delbert will continue to consult on several projects, including downtown Lubbock redevelopment, and North Pointe and Willow Bend residential developments.

 

Marc and Mike McDougal will establish a management committee to provide strategic direction for the McDougal Companies.

 

Beginning in 1972 with a $10,000 loan to purchase an aging 16-unit apartment complex, the McDougals built a multi-million dollar apartment, property development, construction, and realty company over the following forty years. 

 

Today, the McDougal Companies own or manage more than 2500 apartments in twelve Texas cities.  They have developed or built more than $400 million in commercial and residential property, and the realty company has listed or sold more than $1.5 billion in homes and commercial property.

 

The McDougals are best known for the Overton Park redevelopment, which turned a blighted area between Texas Tech and downtown Lubbock into a modern mixed-used success story.  Overton Park has been called the largest privately funded urban renewal project in America. 

 

For more information, and interviews, please contact:

Marc McDougal

Mike McDougal

806.793.0703

 

Plan envisions Lubbock downtown as 'cool place'

Written by Brittany Hoover | AVALANCHE-JOURNAL Wednesday, 16 November 2011 00:00

Delbert McDougal, CEO of McDougal Cos., unveiled plans for Lubbock's massive downtown revitalization project Tuesday to make the area "a cool place."

Read more: Plan envisions Lubbock downtown as 'cool place'

City, McDougal in talks to redo downtown

Written by Eric Finley | AVALANCHE-JOURNAL Thursday, 28 August 2008 20:19

Downtown might look very different in a dozen years. If so, Delbert McDougal will be the person behind it.

The Lubbock City Council on Thursday voted to start contract talks with McDougal Cos. to act as the downtown master developer. McDougal was the only group to apply for the mammoth job, estimated at about $1.2 billion, yet council members said they were confident CEO Delbert McDougal has the knowledge needed for the job.

Read more: City, McDougal in talks to redo downtown

 

Overton hotel to be taken private label

Written by Chris Van Wagenen | AVALANCHE-JOURNAL Sunday, 28 May 2006 15:36

It was a shining moment for McDougal Cos. when the privately held family company was finally able to announce plans for a new upscale, multi-story hotel for Overton Park. That was in January.

A lot has happened since then.

Read more: Overton hotel to be taken private label

McDougals loom large in Overton Park

Written by Chris Van Wagenen | AVALANCHE-JOURNAL Tuesday, 07 March 2006 15:33

Lubbock developer Delbert McDougal and his wife, Carolyn, never looked better - in bronze that is.

On Monday, the McDougals were honored by City Bank which unveiled a 7-foot likeness of the couple strolling into Overton Park - the largest privately funded redevelopment project in the nation, which the family-owned company has been working on since July 1999.

Read more: McDougals loom large in Overton Park

 

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