Forney Regional Shopping Center Updates

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[Josh]

We originally broke the news of the 2.2 million square foot regional shopping center planned for Forney back on May 5th, with an update, including a video of the bridge that will be built over Highway 80 between CR-212 and Windmill Farms Blvd to connect to this shopping center, on May 6th.

There's a number of exciting updates about this project to share, but first, our research has uncovered a new map of the planned shopping center, which is shown below. Click the map to a view a (much) larger version. This map gives us, via the diagram at the bottom left, a better idea of which portions of the shopping center will be in each of the three phases.



This map makes it clear that Endeavor wants to make a bold statement with the first phase of the center, with two of the four department stores being built in phase 1, which is scheduled to open in 2010. In addition to the two department stores and numerous other buildings, phase 1 also includes a 130,000 square foot building for a major anchor. 130,000 square feet is big - roughly the size of a Lowe's, Home Depot or Target, to name a few major retailers that could occupy a building that large. Of course, with groundbreaking set to occur in 2009 and grand openings in 2010, it's too soon to know for sure what retailers might occupy any of these spaces, but stay tuned to 20PM, where we'll keep you up to date with the latest news about this and all the other new developments in Forney. For more information and news about this shopping center and the offices and hotels that are proposed for the area surrounding it, read on.

On Friday, May 16th, the Dallas Business Journal (DBJ) ran a front-page article entitled "Forney site of $275M project". This article gave Forney incredible momentum going into the annual International Council of Shopping Centers Real Estate Conference (ICSC RECON) , where the city hosted a booth extolling the virtues of Forney as "A Community of Values and Vision". This conference gave the city and the Forney Economic Development Corporation (EDC) the opportunity to meet with retailers, restaurants and developers from all over the US including many fast food restaurant chains, sit-down restaurants, clothing stores and yes - even some major grocery chains.

This DBJ article discussed many of the plans for the regional shopping center and surrounding land - the shopping center is being developed by Endeavor, with the remaining, surrounding land being developed by Meadow Ridge Farm LP. In addition to the 2.2 million square foot regional shopping center, which will be the largest retail space built between Mesquite and Tyler in 30 years, Meadow Ridge is planning three hotels and 50,000 square feet of office space. Meadow Ridge currently intends to start most of their work in 2009 and 2010, but would like the first hotel (which is currently planned to be a suites hotel with limited service) to open roughly with the opening of the first phase of Endeavor's shopping center.

Meadow Ridge has not announced their intentions for the second hotel planned for the site, but have said that the third and final hotel is planned to be a conference center hotel. In addition to their work on the three hotels, Meadow Ridge currently plans to begin work on the office space within a year of the first phase of the retail center opening.

The article cited the fact that while Forney's population is a little low for a center of this size (Forney's population is currently estimated at 14,000 people, an impressive number considering the 2000 census placed Forney's population at a little over 5,000), over 131,000 people live within a 10 mile radius of the site, thanks to Forney's proximity to Mesquite, Rockwall and the eastern half of the Dallas-Fort Worth Metroplex.

In addition, recent demographics show the average household income in the area has risen to nearly $75,000. These factors, in addition to the amount of growth expected in Forney and the surrounding areas over the next decade have quite a few retailers and restaurants considering Forney for their next location - representatives from Endeavor are quoted in the DBJ article stating food stores and discount retailers would be desirable and that Target, J.C. Penny's and Kohl's aren't in this area yet and are on Endeavor's list of prospects.

This project is Endeavor's first in the Dallas-Fort Worth Metroplex, but they are the third-largest commercial real estate developer in Austin, where they are currently developing phase 2 of The Domain, a 10 million square foot development that has quickly become well known and loved in the Austin area. Phase 2 of The Domain includes both a Nordstorm and a Whole Foods Market, so Endeavor is no stranger to large developments or big name brands.

Meadow Ridge has said that it could take up to 10 years to fully develop their portion of the site, including all three hotels, so this project will continue to grow and evolve over the years, but we'll be sure to keep you updated on the latest announcements and happenings as tenants are signed and work begins on what is shaping up to be the largest retail development in Forney and the surrounding area.

[mxracer50]

It will be interesting to see if this actually gets off the ground with the economy heading the way it is. 

[Jai Lespoir]

With the hospital having broken ground already, and the city park on it's way; which will help attract more second-tier home buyers...Forney is nicely poised for just this kind of project to really take off.  Actually, in a slow economy many retailers know that one way to spur increased sales is to open new stores.  I'm familiar with many of the projects that Endeavor has been involved with, in Austin, and I hear good things about them from commercial realestate folks down there.

I'm very excited about the details in this design.  It looks like Firewheel, but with more pedestrian-only open air shopping areas.  Big Score for Forney!!

[Will]

Anyone else notice that Concord Drive (in Windmill Farms) is shown as connecting to this development?  Josh, are they planning on extending Concord across Iron Gate and connecting it?

[Josh]

Anyone else notice that Concord Drive (in Windmill Farms) is shown as connecting to this development?  Josh, are they planning on extending Concord across Iron Gate and connecting it?

Good eye, Will. I was actually coming over to this thread to post something about that just now - I noticed that when I was working on this post last night.

I haven't really talked to the developers at Windmill Farms about this development much, so I'm not sure how much contact there's been between the developers at Windmill Farms and the guys at Endeavor. Considering that as far as I know and can recall from the site plans I've seen, there's no further development planned within Windmill Farms near that intersection (except for the church, which the old developer sold the land to already, so there's no incentive to add additional infrastructure to attempt to fetch a better price for the land), I'd be surprised if Windmill Farms paid to extend that road. However, I do know that eventually the plan is to extend Concord past Windmill Farms Blvd and connect it to the golf course, so they may see that as a strategic way to connect their golf course to the three hotels, 2.2 million square feet of retail and 50,000 square feet of office space. I'll see what I can find out...

It will be interesting to see if this actually gets off the ground with the economy heading the way it is. 

That's something the Dallas Business Journal brought up - the fact that financing a project like this in the current economy can be a bit tricky. However, between Endeavor and Meadow Ridge, the developers are planning on investing $55 million into the project, and I just don't think two very large, experienced development groups would invest that kind of cash into a project unless they had some indication that it was going to be successful. To me, the fact that they're including two department stores and one 130,000 square foot anchor location into the first phase indicates that they've had some interest from, and believe they can sign deals with, some major players in the retail industry.

Think about all the growth in the southeastern portion of Mesquite (Creek Crossing, Falcon's Lair) and all the growth in Sunnyvale - Town East Mall in Mesquite has, unfortuantely, lost a number of their higher end stores and seems to be sliding fast and until the George Bush Turnpike is extended to 30 and then 80, Firewheel is a bit of a drive from Mesquite and Sunnyvale. With two department stores and a major anchor, this shopping center will draw from Mesquite and Sunnyvale in addition to Forney and the surrounding areas (i.e., Windmill Farms, Heartland, etc).

[mxracer50]

I can see it really putting the hurt on Town East Mall, that place has really turned into a dump the past few years.  We usually just head to North Park to do our shopping now. 

[Boomer]

I wrote to Forney Regional Medical Center.  Was told that a few months before they will hold a job fair to recruit emplyees in all departments.

The only thing that I dont like is that they are planning to put all that multi family housing right off the mall..Thats never a good thing

[Cal]

Multi-Family Housing?  I hope Forney residents fight this, just take a drive down to Mesquite if you want to see what that will bring. Maybe not immediately, but it will happen.  I think one of the reason Forney has grown so rapidly lately is because people want to get away form high density areas.

[Josh]

Multi-Family Housing?  I hope Forney residents fight this, just take a drive down to Mesquite if you want to see what that will bring. Maybe not immediately, but it will happen.  I think one of the reason Forney has grown so rapidly lately is because people want to get away form high density areas.

Yeah, there's multi-family housing on the map, but I have yet to hear any actual announcements about that part - from what I can tell, the focus is on the retail and the hotels. Also, if multi-family housing does happen, my guess is it'll be like what they put it with Southlake Town Center or Southlake, Firewheel in Garland and The Domain in Austin - it's nothing like the apartments in Mesquite.

[WFShaun]

Multi-Family Housing?  I hope Forney residents fight this, just take a drive down to Mesquite if you want to see what that will bring. Maybe not immediately, but it will happen.  I think one of the reason Forney has grown so rapidly lately is because people want to get away form high density areas.

I won't mind multi-family housing if they are upscale and expensive.  If the rent is even a mid-level price range I will be fighting!  By the looks of the proposed development though it will be upscale housing.  I've never been more excited to live in Forney than I am now.

[Boomer]

Something like Archstone Apt would be nice..Not some fly by night developer who builds it then sells it to a slumlord..

On another note..Since the county is growing and according to lastest data the population is over 90,000 We should no longer be classified as a rural area  And we should push for a Health Dept since all these eateries are coming into the area..