Marriott At The Cascades

Developer Jackson-Shaw starts construction on third Marriott hotel near Nebraska Furniture Mart

Candace Carlisle | ccarlisle@bizjournals.com | Dallas Business Journal

Dallas-based real estate development firm Jackson-Shaw plans to begin construction on its third Marriott hotel at Cascades at The Colony — a five-story, 125-room Marriott Courtyard.

This new hotel on the Sam Rayburn Tollway, about two miles west of the Dallas North Tollway, signals the final phase of the Cascades at The Colony, a 100-acre master-planned commercial and residential community in The Colony.

The Marriott Courtyard is a flag of success for the Cascades and the community in The Colony, said Michele Wheeler, president and COO of Dallas-based Jackson-Shaw.

Along with the hotel, Jackson-Shaw plans to develop three restaurants — which are scheduled to break ground in spring 2015 — for the final phase of construction. The Marriott Courtyard is scheduled for completion in fall 2015.

Key Construction Inc. is the general contractor for the project. Merriman Associates Architects Inc. is the project architect. Sovereign Bank is the construction lender on the hotel.

Jackson-Shaw is currently developing projects throughout the United States, including Texas, Florida, Maryland, Arizona and Colorado.

Read the Full Story at www.bizjournals.com

Grandscape 5,000 Jobs

Grandscape to bring 5,000 new jobs to The Colony

By Heather M. Goodwin | hgoodwin@starlocalmedia.com | Lewisville Leader

The Colony has already seen an economic benefit to bringing the Nebraska Furniture Mart to the city, but that is just the beginning of what it and the entire Grandscape development has to offer.

“We’ve already seen a huge benefit of the development, including the addition of Top Golf, to The Colony,” said Tod Maurina, assistant city manager. “We’ve already seen an economic impact from having the construction people in town. We don’t have numbers to quantify that now, but we know it’s there.”

Keri Samford, economic development director, said to her knowledge every piece of vacant property along State Highway 121 is either under contract or being developed, including Specks, Rooms to Go and Peter Piper Pizza.

“We also have office condos coming in, and developers are rebuilding the Marriott hotel,” Samford said.

Maurina said he believes that is a direct result of the investment the city made to bring Grandscape to fruition.

Once Nebraska Furniture Mart opens, March 4, 2015, it will have about 2,200 employees. It has already hired more than 400 people.

“They are actively hiring and have held a couple job fairs,” Maurina said. “The big push will be this fall. They’ve brought in a certain amount of people from other locations to help teach the culture, but they have also hired a high number of local people in prominent positions in the organization.”

Maurina said initially the city estimated that the mart would bring 1,900 new jobs to the area and the Grandscape as a whole, about 5,000 new jobs. He said the city’s goal is to hire at least 50 percent of people from The Colony and Denton County.

“Our goal is to keep it as local as possible, and I think that’s good for them [the businesses] too,” Maurina said. “Businesses don’t like people commuting 45 minutes to work. There’s a certain area they want their employees to be in to make sure they’re reliable.”

Maurina said the mart is good at maintaining its employees. He said they have more than a 94-percent retention rate over five years.

“It’s very common to meet employees of the mart that have been there more than 10 years,” Maurina said. “At this location, a couple who works as the project manager and distribution manager have both been with the mart more than 20 years. They’re very conscience of keeping people, and they’re going to be a great employer.”

The mart will employ both part time and full time positions. Maurina said the jobs will span from warehouse distribution, which itself will have more than 800 people, to entry level cashiers, to craftsman who will make repairs to the furniture, to high-end sales positions.

In addition to bringing in new jobs, Maurina said the city is projecting that the mart will generate $50 million dollars a year in sales tax.

“This is bigger than The Colony. I don’t think it’s an accident that some headquarters have been coming into area cities such as Plano. There’s been development all along the 121 corridor, including Lewisville and Frisco,” Maurina said.

Maurina said area cities are seeing development where there was none before. He said that’s what The Colony always envisioned, that Grandscape was a regional wide opportunity.

“We’re glad to see our neighbors benefit as well as we are because it helps create traffic and make Grandscape be successful,” Maurina said.

Read the Full Story at www.starlocalmedia.com

Cheddars Restaurant

The Colony P&Z Recommends Approval of Development Plan

By Heather M. Goodwin | hgoodwin@starlocalmedia.com | The Colony Courier-Leader

The Colony could soon be home to a Cheddar’s restaurant following a vote by the planning and zoning commission.

On Tuesday, commissioners approved a development plan for Cheddar’s restaurant that specializes in homemade dishes. Developers are planning a 8,066-square-foot restaurant that would be located on the south side of Nebraska Furniture Mart Drive and 400 feet east of Bargain Way directly west from the Nebraska Furniture Mart parking lot. The planning and zoning commission approved the preliminary plat Feb. 26. The item will now go before the city council.

The Savant Group completed a traffic study on the proposed site and recommended several roadway improvements meant to ease the projected increase in traffic in the area. The improvements include adding a double diverging diamond over State Highway 121 at South Colony Boulevard, which will divert much of the Nebraska Furniture Mart development-bound traffic from the intersections of State Highway 121 at both Paige/Plano Parkway and Spring Creek.

In addition, roadways on the site will include Nebraska Furniture Mart Drive, which extends from Plano Parkway at Tittle across the north side of the Grandscape site and connects to both the South Colony Boulevard overpass and Grandscape Boulevard, which continues east to connect with Headquarters Drive at Spring Creek and a cross street, called Bargain Way that connects the State Highway 121 frontage road with Plano Parkway.

Mike Joyce, director of planning, said due to the anticipated number of people visiting the Grandscape site, roadway improvements were necessary.

“The road improvements are part of the infrastructure package that was agreed upon by the city and the developers,” Joyce said. “The roadway improvements are based on the anticipated number of vehicles and visitors, which is eight to 12 million visitors per year, to the Grandscape site.”

The site plans calls for the restaurant to have direct access off of Nebraska Furniture Mart Drive. There will be no cross access to the Nebraska Furniture Mart. Developers are planning to provide 170 parking spaces, which is more than the required 41 spaces.

In order to adhere to landscaping requirements, developers are planning to use a combination of Shumard Oak, Eastern Redbud, Sea Spray Juniper and Elderica Pine. Developers would also use Tuscan Blue Rosemary, Knock Out Roses, Dwarf Fountain Grass, Big Blue Liriope and other plants to screen the parking spaces along Nebraska Furniture Mart and surround the building.

See original news post at The Colony Courier-Leader

Nebraska Furniture Mart One Year Later

Progress moves along in The Colony, TX. Just one year after the official ground breaking, NFM’s Grandscape is starting to take shape.

TopGolf-The Colony earns another award

The city’s partnership with one of the nation’s premier entertainment and dining venues has again been honored by the business media with an annual award.

On a night that featured dignitaries from the city of Dallas, the George W. Bush Presidential Center, and the Dallas Cowboys, The Colony’s own TopGolf facility was recognized as the Dallas Business Journal’s Best Retail/Restaurant Deal for 2013.

The award was presented during the Dallas Business Journal’s 22nd annual Best Real Estate Deal of the Year Awards on April 29 at The Ritz-Carlton in Dallas.
Diane Baxter, Director of Communications and Tourism for the City of The Colony, said the city was proud to partner with TopGolf and excited to see a member of the local business community be honored alongside the best of the best in Dallas-Fort Worth.

“The leadership at both City Hall and the Economic Development Corporation were very aware that TopGolf would be a fantastic addition to our community and draw visitors from all over the Metroplex,” she said. “Continued recognition by the region’s business analysts goes to show this deal was a hole-in-one.”

The award comes on the heels of TopGolf-The Colony being recognized by D CEO Magazine in March as the Best Retail Deal of 2013.

For more information, contact visit www.topgolf.com/us/the-colony and www.bizjournals.com.

TopGolf – The Colony awarded Retail Project of the Year from D CEO Magazine’s Commercial Real Estate Program for 2014!

D CEO magazine’s Commercial Real Estate Awards program for 2014 chose TopGolf, The Colony as the winner in the Best Retail Project category.

With business booming at its two other North Texas locations, TopGolf began looking for a third site in 2012. It tapped Luke Wilson and Terry Syler of The Retail Connection to help. The brokers evaluated 15 locations, culling through piles of market statistics and demographics. The trick was to find something in the northern path of growth, but not so close as to cannibalize TopGolf’s existing facility in Allen.

Negotiations were underway on a site when TopGolf hired a new real estate director, Zach Shor. The search ultimately was refocused to the State Highway 121 corridor, particularly a stretch near where Nebraska Furniture Mart’s massive DFW store is under construction. The Colony stepped forward with a compelling incentives package, and a decision was made.

Shor says working with The Colony was a breeze. “If I could copy and paste them all over the country, I’d do it,” he says. “They’re incredibly easy to work with and a very fun group. I’m in 40 markets, and they are atypical.”

TopGolf’s venue in The Colony—its new prototype—opened in November 2013, and performance is already exceeding expectations. Along with Nebraska Furniture Mart, TopGolf is helping to create a brand new retail trade area, Shor says: “The whole area is just continuing to grow, and can only get better.”

Read the full article online at dmagazine.com.