Southlake economic development is off to a roaring start in 2015. With already established shopping centers, recently opened retail venues, and plans for continued development, Southlake is further establishing itself as a premier shopping destination in the Dallas-Fort Worth area.
As indicated by the increase in sales tax revenue from $11,497,962 in 2013 to $13,342,819 in 2014, the economic climate in Southlake is getting stronger, noted City of Southlake’s Director of Economic Development and Tourism, Shannon Hamons. “Last year, approximately 76 new businesses opened in the city. Businesses continue to flock to our community, with several more high profile openings on the horizon.”
Southlake Town Square has been the primary community gathering place for nearly 16 years, consisting of approximately 850,000 square feet, more than 125 retail shops and restaurants, a 14-screen Harkins Theatre, an upscale Hilton Hotel, a U.S. Post Office, residential brownstones, and serves as a hub for local government inside Town Hall. Known for its high-end shopping, Southlake Town Square recently welcomed Boston Proper, Markham Jewelers, Columbia, Elaine Turner, Altar’d State, and Waxing the City. Additional store openings anticipated in the near future include E. Leigh’s, J. Jill, Spin Neapolitan Pizza, and the ever popular California-based specialty grocer, Trader Joe’s.
Diagonally across the street, consumers will find the new Park Village shopping complex at the corner of Southlake Boulevard and Carroll Avenue. Big name retailers have already opened for business, with other store openings throughout the spring and summer. Outdoor activities retailer and the nation’s largest consumer cooperative, REI, is already drawing crowds to Park Village. In addition to offering outdoor gear and apparel, the 34,000 square foot outfitter also houses a complete bike shop offering a full range of professional bike services. The Fresh Market is another prominent attraction of the 185,000-square-foot shopping center. The North Carolina-based gourmet grocer is known for its European-style market concept. The grocer consists of over 25,000 square feet, including a bakery, a full service meat counter, a wide selection of ready-to-serve entrées, fresh seafood, more than 200 imported and domestic cheeses, and a produce department with more than 400 items, including organic options. Additional tenants will open in the near future, including Michaels. North America’s largest arts and crafts retailer will open the new Southlake store in February, replacing a former Gateway Plaza location. The 23,200 square foot new store will feature an open design with wider aisles, warm colors and brighter lighting. Key departments will consist of home décor and floral, scrapbooking and paper crafts, jewelry, kids and tweens, art supplies, and framing.
Another new shopping center can be found blocks from Southlake Town Square at the corner of Carroll Avenue and SH-114. Carroll Pointe is a high profile establishment consisting of over 42,000 square feet of retail and restaurant space, with three buildings similar in size and with a distinct architectural style. The layout was designed to provide generous patio spaces with landscaped planting beds, pedestrian-oriented lighting and enhanced concrete paving. The buildings were strategically designed to shade the patios, allowing for a more pleasant shopping and dining environment. The first tenant to open its doors at Carroll Pointe is the widely popular Tex-Mex restaurant chain, Chuy’s. The eclectic, Austin-based restaurant opened its Southlake location in January and has seen a steady stream of diners who enjoy the fresh, authentic and affordable cuisine.
Kimball Oaks is yet another development in progress. Situated at the corner of Southlake Boulevard and Kimball Avenue, the retail site includes eight buildings with floor space spanning 126,100 square feet, retail space equaling 102,100 square feet, and restaurant space totaling 24,000 square feet. PGA Tour Superstore recently opened its doors in the shopping center. The 45,000 square foot interactive store features certified golf pros, personalized golf lessons, six swing simulators for lessons and custom club fittings, five performance practice bays with swing analysis, a 2,000 square-foot putting green, and golf and tennis apparel and equipment.
“I believe you will see much of the development in Southlake shift in the coming years from new retailers to more office development, especially along SH-114. These buildings and the companies they attract will go a long way to help support our local businesses. Also, two new hotels have been approved for development and those could begin construction this year, which will add to our ability to attract even more tourists to the community,” stated Hamons.
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