Home > Boards > US Listed > Gaming and Casinos > Drive Shack Inc. (DS)

Redevelopment of former Texas Instruments campus breaks ground (9/24/18)

Public Reply | Private Reply | Keep | Last ReadPost New MsgReplies (1) | Next 10 | Previous | Next
Enterprising Investor Member Profile
Member Level 
Followed By 207
Posts 10,752
Boards Moderated 6
Alias Born 04/05/09
160x600 placeholder
Statement of Ownership (sc 13g) Edgar (US Regulatory) - 2/14/2020 1:36:37 PM
Disclosure of Asset-backed Securities (abs-15g) Edgar (US Regulatory) - 2/14/2020 10:39:35 AM
Amended Statement of Ownership (sc 13g/a) Edgar (US Regulatory) - 2/7/2020 11:19:31 AM
Statement of Ownership (sc 13g) Edgar (US Regulatory) - 2/7/2020 8:48:19 AM
Drive Shack Inc. Schedules Fourth Quarter and Full Year 2019 Earnings Release and Conference Call Business Wire - 2/5/2020 4:30:00 PM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 1/3/2020 4:16:06 PM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 1/3/2020 4:15:36 PM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 1/3/2020 4:15:30 PM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 12/26/2019 5:20:35 PM
Drive Shack Orlando to Reopen its Doors Nov. 29 PR Newswire (US) - 11/25/2019 12:48:00 PM
Quarterly Report (10-q) Edgar (US Regulatory) - 11/12/2019 5:12:17 PM
Current Report Filing (8-k) Edgar (US Regulatory) - 11/12/2019 7:37:22 AM
Success of New Venues Showcased in Drive Shack Inc.’s Third Quarter 2019 Results Business Wire - 11/11/2019 10:45:00 PM
Drive Shack Inc. Schedules Third Quarter 2019 Earnings Release and Conference Call Business Wire - 11/8/2019 1:00:00 PM
Drive Shack Opens Its West Palm Beach Location Today PR Newswire (US) - 10/18/2019 8:00:00 AM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 10/3/2019 4:28:06 PM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 10/3/2019 4:27:26 PM
Bringing A New Level Of Entertainment To Richmond: Drive Shack Opens Sept. 20 PR Newswire (US) - 9/20/2019 8:00:00 AM
Bringing A New Level Of Entertainment To Raleigh: Drive Shack Now Open PR Newswire (US) - 9/17/2019 4:57:00 PM
Current Report Filing (8-k) Edgar (US Regulatory) - 8/23/2019 4:15:51 PM
Amended Statement of Beneficial Ownership (sc 13d/a) Edgar (US Regulatory) - 8/16/2019 4:26:08 PM
Initial Statement of Beneficial Ownership (3) Edgar (US Regulatory) - 8/15/2019 4:16:19 PM
Current Report Filing (8-k) Edgar (US Regulatory) - 8/8/2019 4:49:41 PM
Quarterly Report (10-q) Edgar (US Regulatory) - 8/6/2019 4:04:35 PM
Current Report Filing (8-k) Edgar (US Regulatory) - 8/6/2019 8:18:14 AM
Enterprising Investor Member Level  Tuesday, 09/25/18 08:21:29 AM
Re: None
Post # of 514 
Redevelopment of former Texas Instruments campus breaks ground (9/24/18)

After more than two years of planning, construction has started on the redevelopment of the former Texas Instruments property in Stafford — a more than $500 million project that aims to bring the area a vibrant mix of shops, restaurants, bars and thousands of new apartments.

The development — dubbed the Grid — has a “billboard location” along the heavily traveled U.S. 69 corridor, developer Adam Schiller, said Monday.

“Everyone has to drive by this site to get to the Galleria, to see the Astros, the museums,” said Schiller, managing principal of StreetLevel Investments. “Now we’re going to give them a reason to stop, come in and spend their dollars.”

Long-term plans for the project between West Airport Boulevard and South Kirkwood Road call for 350,000 square feet of retail and restaurant space; 2,400 residential units; 500,000 square feet of office space; multiple hotel brands; a health club and luxury cinema.

Perhaps the most notable tenant to join the mix so far will be In-N-Out Burger, the California-based chain with a cult-like devotion.

Other retailers slated to join the project include Drive Shack, a golf entertainment venue; Whiskey Cake, a craft cocktail bar and restaurant; and Luma Grove, an outdoor dining concept. Pluckers Wing Bar, Outback Steakhouse, Chipotle and Verizon are also headed for the project. Openings will begin next year.

Aloft Hotels and Element by Westin will operate a co-branded hotel with 234 rooms, and apartment developer JLB Partners is under way on a 380-unit rental complex at The Grid.

A food hall and community gathering area called The Lawn, which will host live music, movie nights and art shows, are also planned. Gensler and TBG are involved in the design. CBRE has been tapped to lease the office space.

The components will be joined by a network of pocket parks, jogging and bike trails and activated public spaces. The developer said heritage oak trees on the site will be preserved.

Dallas-based StreetLevel, which is developing the project with Dallas’ Provident Realty Advisors, announced details Monday morning during a ground breaking ceremony at the 192-acre site, formerly a research and manufacturing facility.

The company said the new project will build upon the site’s legacy of innovation and will spark new economic growth.

Fort Bend County has been one of the fastest-growing large counties in the U.S. It has five of the region’s large master-planned communities and has been cited as the most ethnically diverse county in this area, according to the Fort Bend Economic Development Council.

“We’re accessible in ten minutes of an absurd amount of people,” Schiller said.

The next phase of the StreeLevel development will involve repurposing more than 750,000 square feet of mid-century modern buildings that were part of the original TI campus.

Jeff Wiley, president and CEO of the Fort Bend Economic Development Council, said The Grid will be transforming for Stafford.

“The former TI campus, which was the home of much innovation powering today’s technology, will now be transformed into a tech-savvy, mixed-use development,” Wiley said in a statement. “We have worked on the delivery of this project with the developer, city, county, water district and development authority for quite some time. The day has finally come to let others see the collective vision come to fruition.”

The project will receive a 70 percent county tax abatement for 15 years and the developers could be reimbursed for as much as $52 million worth of infrastructure improvements made to the site, including new roads, landscaping, water and sewer systems and public parking garages.

PlainsCapital Bank of Dallas is financing the project.

https://www.houstonchronicle.com/business/article/Redevelopment-of-former-Texas-Instruments-campus-13254755.php

"Someone said it takes 30 years to be an instant success" - Gabriel Barbier-Mueller, CEO of Harwood International
Public Reply | Private Reply | Keep | Last ReadPost New MsgReplies (1) | Next 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist