Wall Street Journal Features Attorney James Scherr and El Paso Revival

The Wall Street Journal article featuring attorney James Scherr begins with a look into El Paso:

For years, governments have tried and failed to revive El Paso. Then local investors decided to take action. This border city, once the thriving commercial hub of the U.S. Southwest, is reviving its moribund downtown with the help of some native benefactors.

The difference between this and earlier revitalization efforts that fizzled is the involvement of deep-pocketed investors, who decided in 2004 to gather their own resources and chart a course for revival.

The article explains how James Scherr, developer and attorney, was instrumental to the development:

James Scherr, a native of El Paso, is optimistic about the renaissance taking place downtown, and believes that it is just the beginning of something bigger. In 2004, the attorney purchased the 38-year-old, 200-room International Hotel downtown out of foreclosure for $1 million. He is currently investing $20 million in the hotel, including $5 million in city-provided incentives, with plans to have it operating as a Doubletree hotel by the end of the year.

According to Scherr, “El Paso is going into the 21st century with our running shoes on.” He believes that the town is ready to take off and is poised for growth.