Tag Archives: Lakeside DFW

Great News: UCR to market Lakeside DFW retail space

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United Commercial Realty (UCR), which represents properties including Southlake Town Square and the Shops at Highland Village, will introduce Lakeside DFW’s retail space to the market, according to officials with the 150-acre mixed-use development in Flower Mound.

“This is a project I have been quite close to for years,” explained Mickey Ashmore, founder and partner of UCR. “But the long-term vision that has emerged over the past year or so and the progress made toward achieving that vision has us really excited.”

Phase I features six mixed-use buildings along Lakeside Parkway that will accommodate approximately 50,000 sq. ft. of commercial space, just off the well-traveled International Parkway (FM 2499). Click here for traffic counts.

 

“With its great visibility,” Ashmore said, “the key at this point is to create an entry that is clearly something special, one that attracts the right tenants. We want to set the tone for a true destination site.”

Over the past six months, UCR agents have been working on merchandising plans, targeting tenants, and doing a lot of listening.

“We’re finding interest and tenants are providing input that is helping us to adjust our plan to make it more appealing,” he said.

“They can see the density around the site, and the density that will be coming on line in the next year or so.

“We are looking for significant tenants of high caliber where there currently is a real void in the market. We think there are several who would like to get in on the ground floor at Lakeside and begin building their client base.”

Mickey Ashmore of UCR.

Specifically, UCR plans to target “fast casual” restaurants for the first phase that would offer excellent lunch as well as dinner capabilities.

“There might be some with more than one location, but no large chains,” he insisted. “They would have the track records to prove they can deliver what Flower Mound residents want. It is all about creating a reason for people to come to Lakeside.”

The clientele attracted by the restaurants will help to create the environment that will then attract upscale retailers.

“This kind of project does not happen overnight,” Ashmore warned. “It is a step-by-step process. Retailers and restaurants will go where people gather.

“Over the long term,” he said, “I believe Lakeside will grow organically to achieve its vision of becoming a regional destination.”

In addition to the Shops of Highland Village, UCR brought the Pines of Flower Mound to the market as well as introducing Sprouts and Lifetime Fitness to the town

“We think Lakeside offers us the opportunity to show prospective tenants what is really special about Flower Mound,” added Ashmore.

The firm also represents Knox Street redevelopment (Dallas), Mockingbird Station (Dallas), Midtowne Little Rock (Little Rock), and Casa Linda Plaza (Dallas).

Ashmore has represented tenants including adidas, AMC Theaters, Nike, Brio Tuscan Grill, Borders Books & Music, Viking, Design Within Reach, Zara and Z Gallerie.

Source:  Lakeside DFW

 

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Public meeeting scheduled for February 6th, at 5:30 on Surrey Lane!

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A meeting will be held just north of the home at 801 Surrey Lane to discuss the transition area between Lakeside DFW and the Estates of Flower Mound and Woodlake Estates, as well as zoning changes proposed for 801 Surrey.

The Feb. 6 public meeting will be to discuss transition areas between Lakeside DFW and the neighborhood to the north, including 801 Surrey Lane (see yellow box above).

Flower Mound residents interested in the area between Lakeside DFW and the Estates of Flower Mound are invited to a public meeting at Lakewood park at 5:30 pm on February 6th.

Officials of Realty Capital will share plans to improve Town property between the park and Lakeside DFW. Plans to rezone of the property at 801 Surrey Lane will also be discussed.

The meeting will take place just north of 801 Surrey Lane.

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Source: DFW Lakeside

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10 Property Investment Tips


2012 is being touted as the year to invest in properties. But before you pounce on the first okay looking apartment you see, here are some tips to make sure that your investment will be worth it.

1. Do your research!

Knowledge, especially in the real estate industry is more than half the battle. Before you jump to the more exciting part such as house visits, make sure you have a working knowledge of the real estate market.

Know the differences between mortgages and moulding, so you won’t be clueless about what your broker is talking about. Having enough knowledge would also make you more attuned to reading between the lines of real estate listings.

Lastly, know what you want in a house. Knowing exactly what you’re looking for saves a lot of time and effort.

2. Make sure you can afford it

While you might have scraped up enough savings for the down payment, make sure you have enough monthly income for the mortgage and other hidden payments.

Buying a home is not something to scrimp on, so make sure you have more than enough cash on hand just in case your dream house is selling for a slightly steeper price than what you have projected.

3. Don’t be in a hurry

Rome wasn’t built in a day, and your dream house can’t be found in a short time either. Resign yourself to the fact that several of your weekends might have to be allotted for open houses and house visits with your broker.

Don’t look for a house to invest in when you desperately need one too. My suggestion is to rent for the time being so you won’t feel pressured to plunk your money down in an investment that you don’t love.

4. Start with your current networks

Before attacking the real estate section of your city’s newspaper, casually ask friends or families if they know of any houses for sale. Usually the recommendations of people close to you are more trust worthy that the best worded ad in the paper.

Asking your networks would also alert you to some hidden gems that might be selling at a bargain. So inform your friends and family once you are thinking of investing in real estate, their tips might prove to be invaluable to your hunt.

5. Go for the long haul

It doesn’t make sense to invest in a property that you can only see yourself living in for a short span of time. Make sure to consider not just your present needs but also future ones such as an extra bedroom for your future kids.

Another option for finding properties that are too good to pass up is to buy it then have it rented out, just make sure you have the money to spare in case you won’t find renters immediately.

6. Ask for help from someone more experienced

Having a real estate agent is costly, but it’s definitely worth the investment if you are a newbie to the real estate market. Just make sure to hire an agent that is trustworthy and has your best interests at heart.

Once you’ve hired an agent, don’t hesitate to ask him or her questions because that’s what they’re there for. Chances are, they would even appreciate your proactivity in looking for a house and will be more inclined to help you out.

7. Buy what you love

This is a no brainer. Make sure you are positively head over heels in love with a house before signing the contract. This love for your new home will be what will fuel you to make all those monthly payments at the bank.

8. Check out your neighbors and the rest of the community

Remember that you aren’t just buying the house in isolation, you are also buying into the whole community as well. Make sure that your neighbors are people you are comfortable with and that their lifestyles won’t clash with yours.

Having great neighbors is a priceless asset in the city, so make sure that you can readily make friends with the couple next door to borrow an extra cup of sugar or when you need an emergency baby sitter.

9. Accessibility is gold in the city

Even if you find the perfect house, it’s a bummer if you can’t spend time in it because your daily commute takes more than a couple of hours. Be realistic and find a home that is near your workplace and all the other places you’re used to going to.

10. Read the fine print

Lastly, don’t get caught up in the excitement of being a homeowner at last. Read everything that you sign and speak up if there’s something that sounds fishy in the contract.

Source: IncomeTherapy.com

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Lakeside DFW Destined To Be..

People should not be judged by mistakes made, but rather what they do to correct those mistakes.

The Stewart Family has owned the property now known as Lakeside DFW since 1973. Development of the property has been seriously considered since 1994. Zoning issues, the financial crisis, followed by the worst recession America has seen since 1929 drove Lakeside DFW Land Ltd.’s bank to not renew its loan and threatened to foreclose. Therefore Lakeside filed for bankruptcy protection in October 2010.

Bankruptcy law prevented Lakeside DFW Land Ltd. from paying any creditors until a final settlement with all the creditors was reached. Flower Mound was the only creditor that did not support the Plan to emerge from bankruptcy paying 100 cents on the dollar of all current debts. According to Lakeside DFW’s website, The Town of Flower Mound, which was owed $138,191.33 in January 2011, was repaid with interest in September 2011. The second of 13 payments was made on time in January 2012.

“We are proud to be the only property owners in the Lakeside Business District to have emerged from bankruptcy,” Mr. Stewart stated on the LakesideDFW.com website. “If we had failed, the property may well have been sold off in pieces to the highest bidders. That would have created a mess for the town and wasted a golden opportunity.”

“We stuck it out because we believe in Flower Mound and we want to see this property blossom into something very special.”

“Residents should know the people who are proposing to make such an important investment in Flower Mound,” Stewart insisted, “and we’re proud for them to take a long hard look at us.”

“They also should know,” he added, “that the Town’s mixed use ordinance will ensure quality development at Lakeside DFW, even if everyone at Realty Capital is hit by a truck.”

“From this point forward, Town officials should consider taking their cue from Flower Mound residents,” Stewart suggested. “Residents want Lakeside DFW to help improve their quality of life here in Flower Mound. They are growing impatient with delays.”

Realty Capital, which has done business with literally thousands of entities over its 25-year history, has proposed a stunning $1 billion development along the shores of Lake Grapevine in Flower Mound called Lakeside DFW.

Under the mixed use ordinance, their plan features public trails and parks with lake views, high quality dining and shopping experiences, high quality housing options not found elsewhere in Flower Mound, and office development. It is designed to serve as a magnet for all kinds of activities and for people from all over North Texas.

If that’s not a big enough show of faith, they announced late last month they intend to establish a non-profit organization to benefit the Lewisville Independent School District, the Town of Flower Mound and the Lakeside DFW neighborhood.

At a meeting last week with LISD Superintendent Dr. Stephen F. Waddell and his leadership team, Lakeside DFW officials discussed the possibility of creating the charitable organization, which will be named The Lakeside DFW Foundation.

“The purpose of The Lakeside DFW Foundation is to donate funds to the school district and other causes important to the residents of Flower Mound and Lakeside,” explained Richard Myers, a partner in the Lakeside DFW project and managing director of Realty Capital.

The foundation will collect a small transaction fee on all commercial property sales that occur in the Lakeside DFW project (one-half of one percent). If approved, the project at build-out should generate hundreds of thousands of dollars per year to be donated to worthwhile causes.

Myers, a down-to-earth guy who grew up in a small town in the Midwest, further suggests the foundation’s charter require that at least one-half of all this money be donated to the school district. Increases in property taxes in the district will not currently provide many new revenues to LISD’s maintenance and operations budget so the donations will prove beneficial to schools in the district regardless.

Realty Capital has implemented the same type foundation efforts in other towns and school districts they’ve worked with, such as Argyle and Argyle ISD.

Lakeside currently falls under the Master Plan’s strict “campus-commercial” restriction. “Campus- commercial” does not allow for lake-view restaurants, empty-nester or senior housing; or any kind of pedestrian-friendly retail neighborhoods to be built on the shores of Lake Grapevine.

Lakeside DFW has applied under the Mixed Use ordinance passed in 2008 to amend the Master Plan and zoning to build a mixed-use community. For construction to begin at Lakeside DFW, four out of five Town Council members must approve the zoning application. History has proven it’s extremely difficult to get four out of five votes in agreement on development projects in Flower Mound.

The Stewart family, Realty Capital and Richard Myers have shown great enthusiasm, financial commitment and interest in listening to the people of Flower Mound through a series of open discussion meetings at the Lakeside property. The last occurred April 5 where the topic Multi-Family was brought forward in detail.

Flower Mound residents sharing the same vision as Realty Capital and Lakeside DFW should express their support by contacting their Town Council at the email address below: mayor/towncouncil@flower-mound.com.

Let your Town Council members know you support the zoning change from “campus commercial” to “mixed-use” so the amenities that residents ask for can be built.

Lakeside DFW requires a super-majority approval from the Town Council and it only takes two “NO” votes to completely stop the development. One day a chicken, the next day feathers if only two council members disagree.

You can follow Lakeside DFW by visiting the web site at LakesideDFW.com or “Like” them on Facebook at: Facebook.com/LakesideDFW.

Most importantly, be sure you vote on May 12 for a town council that shares the same vision as you.

Source:

Shane Allen, The News Connection

Published 04/12/2012 – 2:28 p.m. CST

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