Item 7B Plan 3FINAL DRAFT February 9, 2005
3.0 PRELIMINARY ANALYSIS
State Highway 114 functions as the dominant economic engine for northeast Tarrant County.
The highway serves as a link between DFW International Airport (one of the nation's busiest
airports) and the Fort Worth Alliance Airport (important multimodal distribution center).
Together, these two transportation facilities form the key transportation hub of the mid- continent
United States and make the S.H. 114 Corridor extremely attractive nationally and internationally
as a location for business, retail and industrial development that will ultimately result in a large
number of people working, shopping and dining along the S.H. 114 corridor.
A significant portion of land north along S.H. 114 between Kimball Avenue and White
Chapel Blvd. in the city of Southlake is currently undeveloped. However, property south of S.H.
114 and east of Carroll Avenue is the location of regional scale retail developments that include:
• Southlake Town Square
• Village Center
• Southlake Corners
• Gateway Plaza
S.H. 114 in Southlake is also home to key regional employment centers that include:
Verizon Wireless
• Sabre Holdings World Headquarters
Regionally, S.H. 114 Corridor is also home to key employment centers in Westlake that
include Fidelity and Solana.
3.1 Major Retail Development in the S. H 114 Corridor in Southlake
Southlake Town Square
A 125 -acre master planned, pedestrian oriented, mixed -use development.
600,000 s.f. of mixed retail, office and government uses employing approximately 1,800
people.
Residential brownstones opening in 2005.
Southlake 2025 Plan 14 S.H. 114 Corridor Plan Area
Phase 11 Analysis & Recommendations
Aerial View of Southlake Town Square
Typical Street in Southlake Town Square
WIMINV OWIFIrm
February 9, 2005
• Grand Avenue commercial district planned to open in the fall of 2006 - addition of
400,000 s.f. including full service hotel, movie theater, retail, restaurant and office uses.
• Development featured on the cover of multiple Urban Land Institute publications
including the Mixed Use Development Handbook and Place Making -The Making of Town
Centers, Main Streets and Urban Villages.
Gateway Plaza
Image of a large,forinat retail use - Costco
• Regional scale retail center located at the intersection of S.H. 114 and F.M. 1709
(Southlake Blvd.).
• Major tenants are Costco, Lowe's, Kohls, Office Depot, etc.
• Mix of retail and restaurant uses.
• Total of 615,000 s.f. of commercial employing 150 people.
3.2 Major Office Development in the S. H 114 Corridor in Southlake
Sabre Holding's World Headquarters
• Located at the intersection of Kirkwood Blvd. and S.H. 114.
• Total of 849,000 s.f. employing 3,000 people on 175 acres.
• Potential for over 2 million square feet, 10,000 employees.
• Named "Top 10 Real Estate Project in Nation" by Site Selection magazine.
Southlake 2025 Plan 15 S.H. 114 Corridor Plan Area
Phase 11 Analysis & Recommendations
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Artist's View of Sabre Master Plan
Aerial View of Sabre
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Verizon Wireless Network Facility
• Located at the intersection of Dove Street and S.H. 114
• Total of 187,000 s.f. employing 330 people.
• Potential for 350,000 s.f of office space.
3.3 Major Office Development in the S. H 114 Corridor adjacent to the city of Southlake
Solana by Maguire Partners
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February 9, 2005
Solana Master Plan
• Located at the intersection of S.H. 114 and Kirkwood Blvd. in the town of Westlake
immediately adjacent to the northwest city limit line. Includes portions of the campus in
the city of Southlake (Sabre).
• An 880 -acre master planned mixed -use development which includes a full - service
Marriott hotel, office facilities, retail shops and restaurants.
• Tarrant County's largest corporate campus development.
• Currently 1.7 million square feet of building space which can accommodate 5,000
people.
Southlake 2025 Plan 16 S.H. 114 Corridor Plan Area
Phase 11 Analysis & Recommendations
View of the Verizon Wireless Facility
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View of the Solana Campus
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Fidelity Regional Office
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• Located in the Solana Campus in the town of Westlake.
• Total of 615,000 s.f. employing approximately 2,300 people.
3.4 Future Development along the S.H. 114 Corridor
February 9, 2005
Of about 2,600 acres in the S.H. 114 Corridor Plan Area, approximately 1,327 acres are
still undeveloped (see figure below). Of the 1,274 developed acres, about 68% is residential
and the remaining is in commercial and public uses (including schools, etc.).
S.H. 114 Corridor:
Distribution of Developed & Undeveloped Property
Developed
1,274 Acres, 49%
Undeveloped
1,327 Acres, 51%
Total Acreage = 2,600 Acres (excluding S.H. 114 R -O -W)
Distribution of developed and undeveloped land in the Distribution of developed land in the S.H. 114
S.H. 114 Corridor. Corridor.
Most of the S.H. 114 Corridor in Southlake is still undeveloped however, it is expected
that the recent completion of the freeway construction of S.H. 114 (12 lanes) west of DFW
International Airport will serve as a catalyst for continued strong economic growth in the
vicinity.
Southlake 2025 Plan 17 S.H. 114 Corridor Plan Area
Phase 11 Analysis & Recommendations
View of the Fidelity Regional Office Campus
S.H. 114 Corridor:
Distribution of Developed Property
Public /Semi
Commercial
Public
(Retail, Office,
10%
& Industrial)
22 °/
Residential
68%
Distribution of developed and undeveloped land in the Distribution of developed land in the S.H. 114
S.H. 114 Corridor. Corridor.
Most of the S.H. 114 Corridor in Southlake is still undeveloped however, it is expected
that the recent completion of the freeway construction of S.H. 114 (12 lanes) west of DFW
International Airport will serve as a catalyst for continued strong economic growth in the
vicinity.
Southlake 2025 Plan 17 S.H. 114 Corridor Plan Area
Phase 11 Analysis & Recommendations
View of the Fidelity Regional Office Campus
February 9, 2005
A number of major projects have been planned or are recently underway along S.H. 114
including:
Cedar Rid ee Q ice Complex by Panatonni
Artist's rendering of Cedar Ridge Office Complex
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X 01 SITE PLAN
W%FW M
J 1Tii SR 114 3 CARROLL SCHOOL ROAD
PANAYYONI DSVRLOPM6NRCOMPANY. LLC
Cedar Ridge Master Plan
• Located at the intersection of Carroll Avenue and S.H. 114.
• 7 office buildings and limited retail at the intersection of Carroll Ave. and S.H. 114.
• Total of 119,520 s.f. employing up to 200 people.
In addition to the above development, several concept plans for larger office campuses have
been approved over the past few years including Granite, Aventerra, etc. However, depressed
office market conditions over the last three years and the highway construction have limited
development of these larger projects. Over the past year, smaller, garden -style (one - story,
smaller building footprint) office developments are cropping up along S.H. 114.
The goal of this planning effort is to evaluate the best strategy and recommend policies to
encourage the development of the S.H. 114 Corridor to its full potential as a retail and
employment center for Northeast Tarrant County.
Southlake 2025 Plan 18 S.H. 114 Corridor Plan Area
Phase 11 Analysis & Recommendations