Plans for downtown southeast

Plans for downtown southeast quadrant underway, renters required

The word is out.

This week Imperium Holdings, LP revealed its plan to market and redevelop the southeast quadrant of Weatherford’s downtown square. Those native to the area will remember it as the old cinema situated at 107-111, College Avenue.

And though the news is amazing, prior to folks get to accelerated, it’s vital to keep in mind that Imperium has no particular restauranteurs or home entertainment venues on board ... yet. However, according to the Weatherford Economic Development Authority, they are involved in a direct-mail marketing campaign with the holding company to see who might be interested.

This is the only considerable vacancy in all of downtown Weatherford, Dennis Clayton, director of financial advancement authority said. This is historically known as the old movie theater of downtown Weatherford. Over the years the economic development department and Imperium have had some excellent, with significant prospects interested, but clearly none located.

According to Imperium the job will encompass four units totaling 18,000 square feet of space.

Space that includes a 2 and three-story, sunset view roof outdoor patios ignoring the Parker County Courthouse.

The court house is a nationwide architectural icon and is the center of Parker County, home to more than 123,000 residents, the designer stated in a press release. In 2014, the US Census Bureau ranked Parker County as the 69th-fastest growing county, of 3,143 counties, in the United States.

Imperium stated as Parker County has actually remained to quickly expand, so has the sophistication of regional customers tastes and needs.

Imperium’s advancement will deal with local restaurateurs whose clients require a greater quality dining experience in a special environment, the release continues.

According to Stephen Schattner, developer of the project, sufficient parking, access, and visibility; the merging of tens of thousands of vehicles going by daily; and evenly well balanced daytime and nighttime populations, make this location ideal for dining establishments.

The town square, located at the intersection of United States 51 and US 80, has 33,000 cars going by daily and is within walkable reach of the greatest concentration of area houses and companies.

On and around the square, government, office, education and health care services have expanded several times in just the previous few years.

However, the city has a lack of commerce within downtown proximity, specifically restaurants, and family-friendly evening locations.

Weatherford is aiding on this aggressive strategy to bring retail, restaurants and entertainment to Weatherford s town square, Clayton stated. To assist make sure the success of downtown revitalization, the economic development has long-established, downtown redevelopment rewards offered to drive growth at this location and the entire downtown area.

Incentives include sales tax abatements, property tax reductions, and personal property tax abatements.

Imperium needs to be total with planning and leasing of the Town Square project in the coming months.

One unit encompassing 2,300 square feet will be readily available in 30-days construction time; the remaining three systems totaling 15,000 square feet will take approximately 5 months to construct.

The direct-mail marketing campaign remains in full swing where materials have actually been sent to a list of about 200 nationwide franchise restaurant potential customers.

Schattner stated Weatherford s main trade location represents over 96,000 people and secondary trade location encompasses more than 170,000 individuals.

This is huge earnings capacity. Need is unquestionable in [Weatherford] and the supply is not meeting that demand, he said. Our objective is to win pre-identified, well-run food and beverage businesses, from west Fort Worth.

He stated Weatherford is only 20 minutes away, that makes the trade area a simple transition and expansion growth target for developing their revenue and doing it quickly.

The Weatherford Economic Development Department is co-sponsoring the marketing campaign, with mailer designs suggestions and key neighborhood data/information and receiving calls from responding/interested business, with growth and incentives information.

There are very advantageous incentives offered from the city, Clayton stated. We already have a couple of very-interested responses to the direct-mail cards. This marketing campaign will include approximately six direct mail postcards, 2 have actually been mailed with historic background, growth and market location key-points.

Clayton stated the redevelopment plan and makings are a very aggressive in high-grade dining establishment design. The real redevelopment design/construction will be personalized to any certain franchise brand requirements.

Imperium has actually owned the southeast Quad of the downtown square for the last 7 to eight years.