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Item 7 - NarrativeSHOP Companies 4809 Cole Ave. Suite 330 Dallas, Tx 75205 214.960.2818 July 31st, 2023 Department of Planning & Development Services City of Southlake 1400 Main Street, Suite 310 Southlake, Texas 76092 Letter of Intent – Southlake Marketplace Zoning Change & Site Plan Dear Mr. Killough, Southlake Marketplace (the “Property”) is an existing neighborhood retail shopping center located on the southeast quadrant of W. Southlake Boulevard and Davis Boulevard. The Property was originally developed in 1996 and 2000, and currently includes Hobby Lobby, Delucca Pizza, Baskin Robbins, and others in the tenant-mix. The Property is currently zoned C-3. The Property is in good condition, but it has historically lacked reinvestment to better cater to the surrounding communities’ needs and better compliment its neighbors being the Stampede Sports Arena and Carroll Senior High School. SL Marketplace Partners LP (the “Owner”) purchased the Property in April 2022 and has since re- painted the shopping center. Additional improvements Ownership is proposing in this zoning application include constructing oversized landscaped islands throughout the parking field, parking lot lighting improvements, enhanced landscape improvements, increased parking operations and efficiency, and the creation of a greenspace to provide opportunity for future restaurant patio areas to open onto. These proposed improvements will increase the total area of landscaping on the Property, increase the total number of parking stalls than what exists today, enhance the pedestrian-scale experience for customers, and further attract better restaurants and service-oriented businesses to operate at Southlake Marketplace. These proposed improvements are similar in nature to other projects that have been successfully repositioned by the new ownership group, including Hillcrest Village in North Dallas, Lakeridge Village in East Dallas, Casa View Shopping Center in East Dallas, and San Miguel Square in Midland, TX. The addition of landscaped area, improved site efficiency, the creation of oversized patio areas, and improved site lighting are impactful ingredients in enhancing the pedestrian-scale experience to further drive community traffic and high-quality tenants to each property. On behalf of SL Marketplace Partners LP, we appreciate your consideration, and we are grateful to be working in the Southlake community with the goal of re-establishing Southlake Marketplace. Sincerely, Buck Wheeler