Commercial real estate is a vital part of the Texas economy. This exciting industry contributed $54.15 billion to Texas’ GDP in 2019. To put this number into perspective, it’s helpful to consider that figure surpassed CRE’s contributions in every other state in the U.S.
Because Masterplan is in the business of expediting commercial real estate development, we serve as team members for many exciting new projects. Here are just a few of the ‘wins’ our clients have experienced as a result of our joint efforts over the last few months.
Whiskey Hatchet: Parking variance for a new location in the Deep Ellum area of Dallas.
As an active area for restaurants and night life, Deep Ellum is long on fun but short on parking. The area was deemed to be perfect for Whiskey Hatchet’s newest location, but the selected site’s parking deficit stood in the way of opening. Whisky Hatchet’s owners turned to Masterplan to help secure a parking variance from the Dallas Board of Adjustment for the new 2800 Canton location. Masterplan Consultant Wes Hoblit applied for a parking reduction of 75 percent, the maximum allowed per Dallas City Code, to better suit customer parking demand. Arguing that many Deep Ellum visitors choose to rideshare or use public transportation, Hoblit convinced the Board of Adjustment to grant the full reduction of 75 percent. The total parking saved for the site was 47 spaces, which allowed Whiskey Hatchet to open without adding additional parking.
Adaptive Re-Use of Vacated Office and Retail Space in Arlington, Texas
An office and retail building near the railroad tracks in Arlington sat vacant for a few months. Because of the COVID shut down, its occupancy did not seem probable. However, this space proved to be optimal and functional for an auto repair business because this use was unencumbered by the location’s less-than-desirable proximity to the railroad tracks. Arlington City Council approved Masterplan’s request for a Conditional Use Permit for the adaptive re-use of this space from Arlington City Council.
Platinum Self Storage: Planned Development District of a three-story 110,000 SF of storage and 9,000 SF of retail at 4925 Denton Highway in Haltom City, Texas
At Masterplan, we strive to help locations match with the right opportunity at the right time. Haltom City had been seeking an economic growth project, and two recently came about in the form of a large multi-story storage facility and retail center. These two businesses will compliment Haltom City’s expanding housing stock with added convenience and enhanced tax base. Masterplan worked with the developer to gain city approval for the project. Obtaining zoning for self-storage is difficult but in over 40 years of business Masterplan has received the most approvals in the State of Texas.
Infinity 2020 Partners: Development of a 2,600 SF full-service, automated car wash and coffee shop at Pioneer and Sierra in Mesquite.
Sometimes delivering a combination of services requires special consideration. That was the case in a recent Mesquite, Texas project. Masterplan filed a zoning case for local owners who sought to take advantage of a highly trafficked area and presented plans for a joint-effort car wash and coffee shop. Masterplan helped the owner secure a Conditional Use Permit from Mesquite Planning and Zoning Commission for this innovative business.
Erickson Living: Development of 568 luxury senior living units in Dallas.
Senior living communities have become extremely popular in the last few decades. As Dallas grows, the need to accommodate its citizens in all stages of life grows as well. Masterplan guided this new development case for Highland Springs in North Dallas to gain development approval from the Dallas City Plan Commission to expand their Frankford Road Campus. This high-end development project received unanimous approval for construction by Dallas City Council.
Palladium USA, Inc.: Change of zoning request for a Planned Development for 87 luxury workforce apartment housing units in Dallas.
Multifamily living facilities have been one of the more recession-proof real estate sectors in 2020. This project will fill a need for new domiciles in the City of Dallas. The City of Dallas has a severe housing shortage and this approval gained by Masterplan will help address this critical need. Masterplan facilitated zoning approval for these workforce apartments.
We are excited to see our clients move forward with their development plans and are grateful to be a part of their path to success. Dallas and surrounding suburbs flourish because of the immediate economic impact of these projects, and that is something we are “all in” together!