Wednesday, January 9, 2008
Exciting Developments in Farmers Branch!
There were two huge decisions coming out of last night's City Council Meeting. For the past several years, the citizens of Farmers Branch have been demanding redevelopment of our retail areas and increased retail options. Today, we are one step closer to realizing the vision for new, vibrant retail and mixed use developments in our city.First, Provident Realty Advisors secured the rezoning of the area along LBJ Freeway between Josey Lane and Webb Chapel Road, the first step in that area transforming from outdated and nearly-empty office buildings to a variety of useful (and needed) development options, potentially including restaurants and retail. This is a good thing.
Second, Icon Partners was named as the city's development partner for our DART Rail Station area. This is very exciting, as the potential impact this area will have on the city cannot be overestimated. We've been talking about the DART RAIL Station development for years, and the city has done meaningful work preparing for this development. It's time to make this a reality.
It's an exciting time to be in Farmers Branch! The best is yet to come.
Tim Scott
by Tim Scott, City Council, Place 1 at 9:46 AM |
5 Comments:
thanks for the info tim
keep it coming.
ps..
tell tim to update his blog..he hasn't written a thing in months.
craig civale
Sweet! Nice to see some progress. Is there a time frame that we might hear news on what they plan to do?
BTW: Do you happen to know what is happening to the area south of 635 at Forest?
The memorandum with ICON states that they will purchase the city owned property in the station area at agreed upon pricing. Over the years, city taxpayers have paid millions of dollars to aquire the land in station area. How much has ICON agreed to pay for the property it will purchase? If a price has not been agreed upon, does the city have a minimum price for the property which must be met to seal the deal? If there is a minimum price per sq ft, what is it? As a taxpayer, what will be the return on my investment in additional tax dollars to the city and how long will it take to realize it?
The price that ICON will pay for the land will be negotiated. The city staff will take the lead in those negotiations, and both the staff and the city council will ensure the city receives fair value for the land as a part of the total overall transaction.
Regarding return on investment, the future value of the development in the DART Station area will benefit to the city in so many ways, mainly increased taxes and increased retail options. It will be a huge addition to our city.
Here is to Fuddrucker's coming to Farmers Branch.
Clay
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