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[Enterprising Investor]

Scott Beck gets Trophy Club go-ahead for town center's crown jewel (3/31/16)

By Candace Carlisle

Dallas developer Scott Beck has won over Trophy Club with his plans for the "crown jewel" of Trophy Club Town Center, which will add a new hotel, a luxury apartment community, 39 townhomes and about 60,000 square feet of retail space to the North Texas hamlet.

"We have been working ever since we presented this five years ago to fine tune it and make it successful," Beck, president of Dallas-based Beck Ventures, told the Dallas Business Journal in an exclusive interview.

Beck has been working with town leaders to fine tune previous plans for the "crown jewel" site of Trophy Club Town Center along State Highway 114 to turn it into an amenity for the community.

"We worked together to put together a solid plan and tweak it into something that is better and cleaner," said Beck, who's father Jeffrey Beck acquired about 4,000 acres in and around Trophy Club during the Savings and Loan Crisis more than 25 years ago.

This is the Beck family's last big real estate hurrah in Trophy Club. The family is bringing in a team of development partners to get more than $100 million of real estate development underway in the next few months.

"This is more than $100 million of construction starting at the same time with the partnerships already executed," he told me. "All the infrastructure has already been done by Bury."

Ohio-based North American Properties plans to build 250 luxury apartments within the 26-acre Trophy Club Town Center development, with work slated to begin by this summer. The apartment developer is bringing in its own general contractor.

Dallas-based Humphreys & Partners Architects is the apartment architect. Twichell Studio Architects is the retail architect.

Beck Ventures plans to oversee the development of the 60,000 square feet of retail and restaurant space on the site. The Weitzman Group's Gretchen Miller, Daniel Morales and Eric Vickers are marketing and leasing the retail space.

Along with apartments, Trophy Club will also get 39 new townhomes built by an affiliate with Plano-based Green Brick Partners Inc. (Nasdaq: GRBK). Green Brick's CEO Jim Brickman recently told the DBJ the homebuilding company has had a robust start to 2016.

Kriya Hotels is the development partner on the 110-room hotel and has preliminarily secured the Hyatt Place for the hotel flag. If the deal falls through, Beck said the hotel group has a backup hotel flag for the site.

In all, Beck said he expects each project to get underway by the end of the summer. The townhomes and retail space will likely be completed in 2017, with the apartment community and hotel expected by 2018.

http://www.bizjournals.com/dallas/news/2016/03/30/scott-beck-gets-trophy-club-go-ahead-for-town.html