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SPIN2025-06 - 1900 N. White Chapel Blvd. SPIN MEETING REPORT SPIN Item Number: SPIN2025-06 City Case Number: N/A Project Name: 1900 N. White Chapel Blvd. SPIN Neighborhood: 3 Meeting Date: June 10, 2025 Meeting Location: 1400 Main Street, Southlake, TX City Council Chambers Total Attendance: 14 Hosts: Ryan Firestone Applicants Presenting: Blake Bickmore, Terry Montesi, and Travis Franks City Staff Present: Ryan Firestone, Planning Technician FORUM SUMMARY: Property Situation: 1900 N. White Chapel Blvd. Development Details: • Proposing a mixed-use development including retail, restaurants, office, hotel, and single family residential at 1900 N. White Chapel Blvd. Presentation: The Art &Science ofRealEstate 2025 Company Snapshot 56 Total Properties Touched to Date 135+ Property Employees 1,211 Current Number of Tenants PORTFOLIOYEARS 33 Years in Business EMPLOYEES PROPERTIES $4.7 B Value of Developed / Redeveloped /Invested in (Past Projects Included) 18 Active Properties 210+ Total Employees 9.1M Current Portfolio Square Footage $1.7 B Value of Current 8.6M SF Portfolio 21M Cumulative Square Footage $825 Lifestyle &Mall Sales PSF (<10K SF;12.23) 75 + Corporate Employees 2 3 NationwideExperience States with Prior Property Experience First Street Napa -Napa,CA 325K SF Retail |183 Key Boutique Hotel 5000 S Hulen -Fort Worth,TX 87K SF Retail Westbend -Fort Worth,TX 91K SF Retail |190K SF Office Alliance Town Center -Fort Worth,TX 1M SF Retail Lincoln Square -Arlington,TX 472K SF Retail Galleria Dallas -Dallas,TX 1.4M SF Super Regional Mall The Vickery -Fort Worth,TX 363K SF 2100 Mckinney -Dallas,TX Up to 14K SF Great Hills Market &Station -Austin,TX 282K SF Retail Market Street,The Woodlands -The Woodlands,TX 560K SF Mixed -Use LaCenterra at Cinco Ranch -Katy,TX 413K SF Mixed -Use La Palmera -Corpus Christi,TX 1M SF Super Regional Mall Zona Rosa -Kansas City,MO 1.1MSF Mixed -Use Perkins Rowe -Baton Rouge,LA 375K SF Retail |135K SF Office |646 Resid Units Saddle Creek -Germantown,TN 173K SF Lifestyle Center North Point -Alpharetta,GA 1.3M SF Regional Mall Annapolis Town Center -Annapolis,MD 557K SF Retail |45K SF Office |550 Resid Units Legacy Place -Palm Beach Gardens,FL 262K SF Retail |33K SF Office |433K SF Mixed -Use Current Portfolio 1 15 13 11 9 7 5 3 14 12 10 8 6 4 2 16 17 1 13 15 17 16 14 12 9 2 -8 18 10&11 18 Experience and Track Record 33 -YEAR TRACK RECORD Trademark has a successful track record as the sponsor of real estate acquisitions and developments across the US. Since 1992,we have sponsored $1.6B of investments,25 of which have been realized.We have deployed$490M of equity with in an averageIRR of 18.4%, with only one resulting in a loss to our investors. Trademark has deep and diverse experience as an operating partner and institutional service provider. 1 MULTIFAMILY 22 MIXED -USE/ TOWN CENTER & LIFESTYLE/MALLS 15 POWER & COMMUNITY CENTERS 15 GROCERY 5 Development &Redevelopment TAKING PROPERTIES FROM GOOD TO GREAT Retail &Mixed -Use Planning/Development Extensive planning,entitlement,economic development and development experience Property Transformations Successful track record evolving 18 properties into places better retailers and their customers want to be Public -Private Partnerships Trademark has deep experiences from 16 successful public -private partnerships across the U.S. Multifamily In -house team with experience planning and developing multifamily and mixed -use Creating Experiences through Placemaking Curated,Artisan Placemaking Destination worthy places Curation,localization and customization of public art FF&E,graphics,custom music list and messaging,quote program In -house VP of Design &Placemaking 9 Placemaking Initiatives High Impact Leasing RECENT LEASES 11-PERSON TEAM Incentivized to add high impact tenants,to increase sales and create value. Broad experience - Lifestyle/Malls,Power, Community Active relationships with influential brands .Strong momentum . 11 High Impact Leasing Continued 12 Current Portfolio GALLERIADALLASDallas,TXFIRSTSTREETNAPANapa,CAANTHEMArlington,TXANNAPOLISTOWNCENTERAnnapolis,MD ALLIANCE TOWN CENTERFortWorth,TX2100MCKINNEYDallas,TX MARKETSTREETWOODLANDSTheWoodlands,TXLEGACYPLACEPalmBeachGardens,FL LEFT BANKFortWorth,TXLAPALMERACorpusChristi,TX LACENTERRA ATCINCORANCHKaty,TX GREAT HILLSMARKET&STATIONAustin,TX ZONA ROSAKansasCity,MOWESTBENDFortWorth,TXTHEVICKERYFortWorth,TXSADDLECREEKGermantown,TNPERKINSROWEBatonRouge,LANORTHPOINTAlpharetta,GA 13 14 The Woodlands,TX CURRENT PORTFOLIO Market StreetWoodlands Market StreetWoodlandsTHEWOODLANDS,TX Mixed -use Town Center (Opened2004) PARTNER/CLIENT:Miller Capital Advisory/CalPERS SIZE:570K SF Specialty,luxury retail,grocery,cinema,services,F&B,Hotel and Boutique office Top 100 property in the U.S.for hotter retailers;often #2 choice in Houston Located in Houston’s premier suburban master planned community Sales have doubled in recent years with strong new brands including luxury Common area refresh completed in 2019 KEY TENANTS: Alo,bluemercury,Bosscat Kitchen,Breitling,Cava,Chanel,Club Monaco,Drybar,Faherty,Gucci, HEB,Herman Miller,J.Crew,Johnny Was,Jo Malone,Kendra Scott,L’Occitane,Louis Vuitton, lululemon,Lush,Madewell,Madison Reed,Mastro’s Ocean Club,Nike Live,Omega,Reel Luxury Cinema,Rhone,Robert Graham,Sixty Vines,Saint Laurent,Suit Supply,Sweetgreen,Tecovas, Tesla ,Tiffany &Co.,Tommy Bahama Cafe/Emporium/Home,Tory Burch,True Food Kitchen,Tumi, Vineyard Vines,Warby Parker,YETI (Coming Soon:Golden Goose,Hugo Boss,Le Labo,Oliver Peoples,Local Public Eatery,David Yurman) 20242017 96.7%90%Occupancy 15 BEFORE |AFTERCASESTUDY-MARKET STREET WOODLANDS AFTERBEFORE AFTERBEFORE 17 GalleriaDallas Dallas,TX CURRENT PORTFOLIO 18 GalleriaDallasDALLAS,TX Super -Regional Mall PARTNER/CLIENT:MetLife SIZE:1.4M SF Took over from Simon after sales declines caused by new competition to North Added credibility and made quick moves to change momentum Stabilized and expanded at risk luxury program Renovations in process including new entrance,interior refresh,and new public space and F&B upgrades Negotiated agreements to keep Nordstrom and early termination for Belk Leasing since 2018:Apple,Cotopaxi,Garage,JD Sports,Kay Jewelers,Mango, North Italia,Stance,Uniqlo,Vans ,and expansions for Rolex,Bachendorf’s,H&M, Louis Vuitton,lululemon,Netflix House KEY TENANTS: A|X Armani Exchange,Abercrombie &Fitch,Aerie,Aeropostale,Altar’d State,American Eagle, American Girl,Apple,Bachendorf’s Jewelry,Banana Republic,Club Monaco,Grand Luxe Cafe, Gucci,Guess,H&M,Louis Vuitton,LoveSac,Lovisa,Lucky,lululemon,LUSH,Macy’s,Mango, Michael Kors,Mi Cocina,Netflix House,Nordstrom,North Italia,Oceanaire,Rolex,Sephora, Tiffany,Tommy Bahama,Uniqlo,Westin Hotel,Zara,Starbucks,Ice Rink 19 BEFORE |AFTERCASESTUDY-GALLERIA DALLAS 20 BEFORE |AFTERLONG-TERM PLANNING STUDY -GALLERIA DALLAS (NORTH CONCOURSE EXTERIOR) 22 BEFORELONG-TERM PLANNING STUDY -GALLERIA DALLAS (THE OCULUS) 23 AFTERLONG-TERM PLANNING STUDY -GALLERIA DALLAS (THE OCULUS) 24 Southlake Southlake,TX UPCOMING 26 SOUTHLAKE LOCATION MAP 1900 N.WHITECHAPELBLVD. DOVE N.WHITECHAPEL33 .13Original Site Plan - Spring 2024 Southlake,Southlake,TX February 07,2025 ©dwell design studio,llc -ALL RIGHTS RESERVED E.KIRKWOODBLVD NWHITECHAPELBLVD0'30'-0"60'-0"120'-0" 1 2 6 4 5 3 12 13 7 8 9 10 11 KEY HOTEL -130 KEYS1 REST.-4,195SF2 REST.-3,817SF3 GROCER -35,229 SF4 RETAIL-18,551SF5 REST.-5,561SF6 REST.-6,823 SF7 REST.-11,001SF8 REST.-1,500 SF9 REST.-5,099 SF10 REST.-6,375 SF11 OFFICE.-38,799 SF 2-LEVELSOFFICE ABOVE12 REST.-9,514SF13 E.KIRKWOOD BLVD NWHITECHAPELBLVD1 2 6 4 5 3 12 13 7 8 9 10 11 HOTEL Planned for either Hotel Lifestyle Brand or Medical Office or Additional Restaurant GROCER National Organic Grocer and 30,000 SF 43,000 SF of Restaurant and Retail, 38,000SF of Office, Public Lawn with Heritage Trees RESTAURANT AND OFFICE CLUSTER SINGLE FAMILY NEIGHBORHOOD SOUTHLAKE MASTER PLAN 35 SOUTHLAKE RENDERINGS 29 SOUTHLAKE RENDERINGS 28 E.KIRKWOOD BLVD NWHITECHAPELBLVD1 2 6 4 5 3 12 13 7 8 9 10 11 HOTEL Planned for either Hotel Lifestyle Brand or Medical Office or Additional Restaurant GROCER National Organic Grocer and 30,000 SF 43,000 SF of Restaurant and Retail, 38,000SF of Office, Public Lawn with Heritage Trees RESTAURANT AND OFFICE CLUSTER SINGLE FAMILY NEIGHBORHOOD SOUTHLAKE MASTER PLAN 35 SOUTHLAKE RENDERINGS 27 SOUTHLAKE RENDERINGS 30 SOUTHLAKE RENDERINGS 31 SOUTHLAKE RENDERINGS 32 E.KIRKWOOD BLVD NWHITECHAPELBLVD1 2 6 4 5 3 12 13 7 8 9 10 11 HOTEL Planned for either Hotel Lifestyle Brand or Medical Office or Additional Restaurant GROCER National Organic Grocer and 30,000 SF 43,000 SF of Restaurant and Retail, 38,000SF of Office, Public Lawn with Heritage Trees RESTAURANT AND OFFICE CLUSTER SINGLE FAMILY NEIGHBORHOOD SOUTHLAKE MASTER PLAN 35 13 13 A3-RETAIL 18,551 SF WHOLE FOODSMARKET 33,798 SF WFM-LOAD 1,431 SF POND 1.22 acres 13 13 13 22 23 19 7 17 8 8 HOTEL130KEYS 20 34 17 12 11 8 11 12 5 B1B -REST6,826 SF B2-REST11,050 SF 20 12 5 17 8 8 12 D1-REST.9,514 SF 11 12 AMENITYPARK B3 -REST5,099 SF 8 8 10 9 9 9 10 10 11 10 8 15 25 19 19 22 22 13 13 13 12 6 12 12 15 15 6 B4 -REST6,375 SF 21 6 5 B1A -REST5,553 SF 8 8 CHAPELBLVDWHITECHAPELBLVDE KIRKWOOD BLVD WILLOW MEADOWS NORTH WILLOW MEADOWS SOUTH 22 ENTRY CORRIDOR 13 NORTH COMMUNITY PRIMARY ENTRY SOUTH COMMUNITY ENTRY PRIMARY ENTRY NORTH COMMUNITY SECONDARY ENTRY SOUTHLAKE OPTION 1 OPTION 1: 39 SINGLE FAMILY SITEPLANS 36 Accessgates145.0085.00 89.08 145.00148.3980.00 136.5175.56 30.00 50.00 30.0050.0030.00 50.00 30.00 50.00 50.0030.0062.00 62.00 125.16125.81125.231 0.282 ac. 2 0.276 ac. 3 0.278 ac. 4 0.363 ac. 12 0.235 ac.13 0.264 ac. 11 0.282 ac. 10 0.282 ac. 9 0.282 ac. 8 0.282 ac. 7 0.282 ac. 5 6 0.339 ac.0.282 ac. 29 0.182 ac.1 0.189 ac.2 0.232 ac.3 0.244 ac. 4 0.221 ac. 5 0.229 ac. 6 0.338. 7 0.225 ac. 8 0.187 ac. 9 0.178 ac. 10 0.174 ac. 11 0.249 ac.12 0.218 ac. 13 0.176 ac. 14 0.177 ac. 15 0.178 ac. 16 0.179 ac.17 0.180 ac.18 0.187 ac. 19 0.205 ac. 28 0.205 ac. 20 0.178 ac.21 0.178 ac. 22 0.178 ac. 27 0.177 ac.26 0.177 ac. 250.177 ac. 30 0.177 ac. 31 0.177 ac. 32 0.177 ac. 23 0.178 ac. 24 0.177 ac. SOUTHLAKE OPTION 2 OPTION 2:45 SINGLE FAMILY LOTS AGERESTRICTEDTO55+ 39 T H A N K Y O U Comments, Questions, and Concerns: Q: When do you think that you’ll break ground and how long from start to finish? A: The national organic grocer that we are discussing here has very strict timeframes for us, so we have no choice, but to start immediately, as soon as possible on that commercial portion of this project. We are hoping this process, going through rezoning will take probably though the beginning of Q4 and then we’re trying to break ground as soon as Q1 of next year. Q: You’re fully financed? A: Yes Q: N. White Chapel is being put into a dual lane road going up to, I think, about the side of Kirkwood. Is the plan to make that dual all the way to the roundabout at Dove? A: I believe we, as part of our traffic analysis that we’ve studied, are increasing the width of White Chapel. I am not sure how far that goes, if it goes all the way down to Dove though. We can check with our civil engineer on that. C: We do have some people that have expressed that they wish they had a senior community that is gated. I see that to the south (Single Family Residential Neighborhood) looks like one way in and one way out. If that became senior housing, then some people are saying that they would like to have a gated community. I don’t know if that would be possible or not, but certainly anything that is maintenance free, if possible. I love the idea. We do have a growing senior population, approximately 33% of the population of Southlake are 55 years and older. A lot of them are empty nesters and don’t want the great, big, giant houses. They really want something like this. As a senior, I feel like I have the right to address some senior issues. And that is as we get older, we don’t drive so well. So, having housing next to restaurants and the grocery store, and I am extremely excited about having a grocery store on the north side of 114 that would help keep us, you know the growing population, off the freeway. It would help keep us off 1709. It would kind of consolidate things there. So, I love it. I think that the whole architectural, the landscape, and things that you’ve presented tonight, my brain just went to parking lots and everything at Central Market and Trader Joe’s and at Tom Thumb, and that is so much more beautiful than anything that we have around any grocery market area. That also include some restaurants in the area. So, I am extremely excited about this. I really believe with all my heart that this is a needed product. And certainly, if you decide to take at least a portion of it and ask City Council to start thinking about our aging population and start designating something as a senior area, we’ve had to be honest with you, we’ve had several developers come in and present cottages and different things, and they just keep getting squashed. I just hope that somebody starts paying attention to the demographics, to the changes and start addressing the changes that are happening here in Southlake and provide good quality to our changing demographic. Q: What is the traffic going to look like when W Kirkwood opens from being a dead end? And will we be seeing the back of the buildings? I don’t want to see a loading dock and a bunch of dumpsters. A: We agree with you, we don’t want you looking at that either. We do plan to landscape that really nice and screen it so that you are not looking at the back of, you know, a potential truck that’s coming here to load up for groceries because there’s going to be a lot more traffic. As far as the traffic goes, what we can do is we can restrict those deliveries to come off 114 and down this road right here. And then the reason why this is so large back here, this space right here (behind the retail portion of the building attached to the grocery store), is so that the trucks can pull out, do a U-turn, take a left and then take a right back onto 114. So, there will not be any commercial large trucks coming down Kirkwood. We do have to connect Kirkwood from White Chapel up to Dove though. So, the only traffic you would see down W. Kirkwood is residential traffic coming to the retail center. Q: Will they look at extending the sidewalk on White Chapel all the way down to 114? A: Our vision here is that this is walkable and so we want to create as many opportunities for walkability throughout the entire project here between the single family and the commercial. C: Yeah, I am excited. It’d be great if you can get all the retail and restaurants in there will be wonderful. A: Well, we’ve got a great list of restaurants that I can assure you you’d be super happy. I’d be super happy to have interested in my neighborhood. We got a lot of great interest there. A: Just one more point on those restaurants. The type of restaurant that’s coming here, it’s not like a $1,000 steak type dinner. I mean we have that in Southlake, and we also have lots of different drive thrus. And so, this is a concept that you’re going to feel great going on a date night to, like you love to do that, but then you can also take family to it as well, which is the point of having the restaurants flowing out onto the public space so that it’s a community gathering spot. SPIN Meeting Reports are general observations of SPIN Meetings by City staff and SPIN Representatives. The report is neither verbatim nor official meeting minutes; rather it serves to inform elected and appointed officials, City staff, and the public of the issues and questions raised by residents and the general responses made. Responses as summarized in this report should not be taken as guarantees by the applicant. Interested parties are strongly encouraged to follow the case through the Planning and Zoning Commission and final action by City Council. Southlake Connect Results for June 10, 2025 SPIN Town Hall Forum