SH 190/PRESIDENT GEORGE BUSH TURNPIKE DEVELOPMENT PORTFOLIO - Younger Partners
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SH 190/PRESIDENT GEORGE BUSH TURNPIKE DEVELOPMENT PORTFOLIO Rowlett, Texas 422+/ Acres North Shore District Land IMAGE HERE For more information please contact Tom Grunnah, CCIM 214.238.8005 Tom.Grunnah@youngerpartners.com Michael Ytem 214.238.8020 Michael.Ytem@youngerpartners.com
PROPERTY OVERVIEW 422.35+/- AC ROWLETT•SH190 DEVELOPMENT PORTFOLIO INTRODUCTION Younger Partners Dallas, LLC, a Texas licensed real estate broker, is proud to present an exceptional opportunity to acquire ±422.35 acres along President George Bush Turnpike (“Rowlett-SH190 Development Portfolio, The Property”) in Rowlett, Texas. This development portfolio has unique attributes with frontage along the major thoroughfare in the area and inclusion within North Shore District. The offering presents developers a tremendous opportunity to acquire an extremely well-positioned mixed-use development site in the northeast region of the strongest housing, office and retail development market in the nation. Gossett ±66.88 Ac. ROWLETT•SH 190/PRESIDENT GEORGE BUSH TURNPIKE DEVELOPMENT PORTFOLIO McEntee ±303.59 Ac. Rowlett, Texas Makvandi IMAGE HERE ±51.88 Ac.
PROPERTY OVERVIEW IN THE PATH OF GROWTH & DEVELOPMENT INVESTMENT HIGHLIGHTS The Rowlett•SH190 Development Portfolio is located in a high growth area of Northeast Dallas-Fort Worth. The Rowlett, Garland, Sachse and Rockwall areas have been growing at a strong pace over the past several years. This market area has seen continued large demand for residential, retail, office and light industrial • Rowlett•SH190 is located within the City of development. This is one of the very last large mixed-use land plays in this part of the DFW metroplex. Rowlett’s North Shore District Located on the beautiful shores of Lake Ray Hubbard, Rowlett is fast becoming a center for business and • Prominently located along both sides of the retail in North Texas. Rowlett is located just 19 miles east of downtown Dallas. President George Bush Turnpike (SH190) featuring excellent frontage and access The population of Rowlett is over 58,000 and projections show the population growing to over 60,000 by 2018. Rowlett continues to focus on building its infrastructure. The North Texas Tollway Authority • Close proximity to other major completed both the eastern extension of the President George Bush Turnpike (PGBT) and the Dallas Area thoroughfares and urban living/working Rapid Transit Authority (DART) completed its Blue Line light rail route to in recent years, spurring a push for districts new area residential and commercial development. PGBT conveniently connects the City to DFW Airport and to I-30, while the DART Blue Line provides convenient access to Uptown/Downtown Dallas and surrounding • Solid demographic profile within five mile employment hubs. radius REALIZE ROWLETT 2020 & NORTH SHORE AREA The Rowlett•SH190 Development Portfolio is specifically located within the area’s that The City of Rowlett PROPERTY DETAILS recognizes as the North Shore North, North Shore South and the Center for Commerce & Industry. These areas are part of the City’s Realize Rowlett 2020 and North Shore Master Plan. LAND SIZE: ±422.35 Acres Total It is intended that the North Shore area be the City of Rowlett’s major employment hub. The City plans to CITY/COUNTY: Rowlett/Dallas achieve the desired development by permitting an integrated mix of uses and building types in order to facilitate and support an employment base. High quality standards, design parameters and preservation of ZONING: Based on North Shore natural features are predicted to provide an amenity package and adjacency predictability for entities District requirements developing in the North Shore area. UTILITIES: All adjacent or at the DEVELOPMENT OPPORTUNITIES location • Urban Village, Urban Neighborhood, New Neighborhood, Rural Neighborhood, Commercial Center (details enclosed) and other uses.
LOCATION • AREA OVERVIEW ACCESS AND LOCATION The Property is ideally positioned to take advantage of the nearby transportation infrastructure. Connected to President George Bush Turnpike (SH 190), it is easy to quickly access I-30, Highway 75, Dallas North Tollway or Interstate 35, all Dallas-Fort Worth major freeways. In addition, the Property is well served by several local roads, Lakeview Parkway (TX 66), Highway 78 (Garland Avenue), and Firewheel Parkway. PROXIMITY TO METROPOLITAN LIVE/WORK URBAN DISTRICTS CITYLINE CAMPUS: The Rowlett•SH190 Development Portfolio is located a short drive from the massive City Line Campus, new home to State Farm Insurance and Raytheon headquarters in Richardson, Texas. State Farm’s three buildings will have 21 stories, 15 stories and 13 stories, built atop Uptown Dallas is a vibrant district with a celebrated history and modern five-level parking garages. Combined, the facilities will house up to 8,000 amenities. In Uptown there are luxury residences, world-class office space employees for State Farm alone. The North Texas hub will provide claims, and endless shopping, dining and entertainment options. Uptown is home service, and sales support to State Farm customers. to award winning restaurants and Dallas’ hottest bars. Along with State Farm’s office campus, the first phase include multifamily, Downtown Dallas is seeing a new renaissance of development with its hotel, retail and restaurant development. As ambitious as the City Line many new high rises, the world class Arts District, the new Klyde Warren project is, it still cannot satisfy the ever growing strong demand required Park, the Perot Museum and much more. Both Downtown and Uptown by this portion of the metroplex. Dallas are easily assessable from the property by automobile or nearby Dart Light Rail. DALLAS’ UPTOWN: A short distance from the Property, you will find yourself in Dallas’ walkable, urban neighborhood of Uptown.
CITY OF ROWLETT SEWER MAP
CITY OF ROWLETT MUDDY CREEK SEWER EXTENSION
MARKET OVERVIEW ROWLETT’S NORTH SHORE MASTER PLAN north, Hickox Road to the south, and the city limit and existing New Neighborhood to the west. All New Neighborhood Building Types in the North Shore South, North Shore North and Center for Commerce & Form Based Code are allowed in this area. The maximum building height Industry are all comprised of Form Based Districts, below is a summary of will be 2 ½ stories. what each district allows. The street system is intended to facilitate circulation for pedestrians, The ‘RURAL NEIGHBORHOOD’: The Rural Neighborhood FB Districts are bicycles, vehicles and emergency services. Streets are fully interconnected, generally bounded by the city limit to the north, President George Bush not gated and designed with a formal tree line for shade, wide sidewalks Turnpike to the east, an Urban Neighborhood FB District to the south, and and rolled curbs. the New Neighborhood FB District to the west. All Rural Neighborhood Building Types in the Form Based Code are allowed in this area. The It is intended that centralized open space be employed to generate a sense maximum building height will be 2 ½ stories. of identity, image and value creation within New Neighborhood developments. These open spaces can provide for neighborhood It is intended that the Rural Estate Building Type will occur along areas gatherings and recreation, and must be fronted by residences or designated “Transition with Rural Neighborhood” as designated on the community buildings. Connecting Trails may also be considered as part of Framework Plan: Special Requirements. This 200-foot wide transition the open space requirement. designation sets the following parameters for lots that immediately abut areas zoned Single Family under the RDC (SF-5 thru SF-40), which exist The ‘URBAN NEIGHBORHOOD’: The Urban Neighborhood FB District occurs prior to adoption of the Form Based Code. in two areas: 1. Adjacent to the north city limit line along Merritt Road and west of Harmony Hills; and 2. Along the north side of Hickox Road east and • The maximum principal building height will be 3 stories. west of Merritt Road. All Urban Neighborhood Building Types in the Form • The maximum accessory building height will be 2 stories. Based Code are allowed in this area. The maximum building height will be • The rear setback will be 25 feet 4 stories. The street system is intended to facilitate circulation for pedestrians, The street system is intended to facilitate circulation for pedestrians, bicycles, vehicles and emergency services. Streets should be rural in bicycles, vehicles and emergency services. Streets are fully interconnected, character with swales rather than rolled curbs, and may employ a not gated and designed with a formal tree line for shade, wide sidewalks clustering of trees rather that a formal street tree line. and curbs. It is intended that existing tree masses and ponds will be preserved in It is intended that centralized open space be employed to generate a sense parks and greenways. of identity, image and value creation within New Neighborhood developments. These open spaces will be improved for use as The ‘NEW NEIGHBORHOOD’: The New Neighborhood FB District is neighborhood gatherings and recreation. bounded by primarily the Rural Residential FB District to the east and
MARKET OVERVIEW ROWLETT’S NORTH SHORE MASTER PLAN The ‘COMMERCIAL CENTER’: The Commercial Center FB District is bounded by President George Bush Turnpike to the East, Hickox Road The ‘URBAN VILLAGE’: The Urban Village FB District is bounded by to the north, and both Urban Neighborhood and existing single- President George Bush Turnpike on the east, the Commercial Center family residential neighborhoods to the west. Within Overlay B, the FB District to the north, and natural features to the south. following Commercial Center Building Types in the Form Based Code are allowed: Commercial, Flex Employment, Mixed-Use, Shopfront Within Overlay A, the following Urban Village Building Types in the and Mixed Residential. Where Overlay B is not designated, all Form Based Code are allowed: Commercial, Mixed-Use, Shopfront Commercial Center Building Types in the Form Based Code are and Mixed Residential. The following provision will be applicable allowed. Within Overlay B, the minimum building height will be 3 within the Urban Village FB District: Mixed Residential units will be stories and there will be no maximum height. One-story and two-story evaluated as part of a larger mixed-use development, and may only buildings may be allowed under certain conditions, but will require occupy 25 percent (excluding parks and streets) of the land area or approval of a Minor Warrant. Where Overlay B is not designated, the building square footage in a Regulating Plan/Phased Development maximum building height will be six stories (6). Plan or Development Plan. A request to deliver more than 25 percent Mixed Residential will require approval by Major Warrant. It is intended that a “Transition with Buffer” will occur along areas designated on the Framework Plan: Special Requirements. This 100- Within Overlay A, the minimum building height will be 3 stories and foot wide transition sets the following parameters for lots that there will be no maximum height. One-story and two-story buildings immediately abut areas zoned Single Family under the RDC (SF-5 thru may be allowed under certain conditions, but will require approval SF-40), which exist prior to adoption of the Form Based Code. of a Minor Warrant. The street system is intended to facilitate • The maximum principal building height will be 2 1/2 stories. circulation for pedestrians, bicycles, vehicles and emergency • The maximum accessory building height will be 2 stories. services. Streets are fully interconnected, not gated and designed • The rear setback will be 20 feet. A landscape buffer containing with a formal tree line for shade, wide sidewalks and curbs. Within street trees planted an average of 25 feet on center and a 40-inch Urban Village developments, tree grates and wells are preferred in metal picket fence with low shrubs will be provided within the rear order to generate a “main street” atmosphere. setback, adjacent to the rear property line. North Shore South is planned to contain centralized open space The street system is intended to facilitate circulation for pedestrians, throughout to provide important foci for urban communities. These bicycles, vehicles and emergency services. Streets are fully open spaces will be improved for more intense use than the interconnected, not gated and designed with a formal tree line for residential neighborhoods with plazas, water features or other shade, wide sidewalks and rolled curbs. Within Commercial Center amenities. All of these areas will be connected with shaded developments, planter strips are preferred in order to generate a sidewalks and trails. lush, well-shaded public realm. North Shore South is planned to contain centralized open space throughout in order to provide important foci for the urban communities being created. All of these areas will be connected with shaded sidewalks and trails.
MARKET OVERVIEW CITY OF ROWLETT NORTH SHORE • EXISTING ZONING
MARKET OVERVIEW DEMOGRAPHIC PROFILE Population Summary 2000 Total Population 3,365 44,225 132,858 2010 Total Population 5,112 59,198 165,996 2014 Total Population 5,165 60,936 172,582 2014 Group Quarters 0 160 560 2019 Total Population 5,333 64,463 184,538 2014-2019 Annual Rate 0.64% 1.13% 1.35% Household Summary 2014 Households 1,640 19,395 55,767 2014 Average Household Size 3.15 3.13 3.08 2019 Households 1,686 20,457 59,492 2019 Average Household Size 3.16 3.14 3.09 2014-2019 Annual Rate 0.55% 1.07% 1.30% 2014 Families 1,383 16,218 45,206 2014 Average Family Size 3.43 3.43 3.43 2019 Families 1,422 17,095 48,185 2019 Average Family Size 3.44 3.44 3.44 2014-2019 Annual Rate 0.56% 1.06% 1.28% Housing Unit Summary 2014 Housing Units 1,683 19,928 58,573 Owner Occupied Housing Units 83.1% 82.9% 76.0% Renter Occupied Housing Units 14.4% 14.4% 19.2% Vacant Housing Units 2.6% 2.7% 4.8% 2019 Housing Units 1,729 20,893 62,207 Owner Occupied Housing Units 83.0% 83.1% 76.1% Renter Occupied Housing Units 14.6% 14.8% 19.5% Vacant Housing Units 2.5% 2.1% 4.4%
MARKET OVERVIEW DEMOGRAPHIC PROFILE Median Household Income 2014 $91,981 $84,925 $74,390 2019 $101,979 $95,338 $85,051 Median Home Value 2014 $220,975 $200,683 $198,580 2019 $251,292 $237,984 $236,379 Per Capita Income 2014 $33,817 $32,331 $29,982 2019 $38,367 $36,536 $34,373 Median Age 2010 36.9 35.1 35.1 2014 37.6 35.8 35.7 2019 37.6 36.3 36.0 2014-2019 Annual Growth Rate 2.09 2.5 2 Percent 1.5 0.64 0.55 1 0.51 0.5 0 Population Households Median Household Income Owner Occupied Housing Units
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