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[0:05]
All right.
[0:12]
» Good afternoon everyone and thank you
for being here especially on a Saturday.
[0:17]
Um I know logistically we were a little
bit challenged with park council
[0:24]
chambers. Fact is, I didn't want to sit
there if we had 100 people show up and
[0:28]
tell 15 people they couldn't commit the
change.
[0:31]
» So you can't hear
[0:39]
this.
[0:43]
» So I what I was saying was um the
logistics we were trying to figure out
[0:48]
because we have a capacity issue town
hall. So if we would have had more than
[0:51]
85 people, we would have had to turn
some folks away. We didn't want to do
[0:55]
that. So, um, today is about sharing
information, providing some clarity, and
[1:00]
walking through a conceptual discussion
regarding the property at 407 and
[1:04]
Simmons Road, which we'll refer to from
here on out as the direct retail
[1:08]
partners development. Before we get
started, I want to briefly outline how
[1:14]
today will flow and also thank you for
being here. First, a sincere thank you
[1:18]
to Oak Chapel Bible Church for
graciously allowing us to use their
[1:22]
facility, especially during a very busy
holiday season. We truly appreciate
[1:26]
their hospitality and willingness to
support this meeting. Today's discussion
[1:30]
is conceptual. I'll begin with a few
opening remarks as mayor, then we'll
[1:34]
hand things over to the development team
from direct retail partners. After their
[1:39]
presentation, we'll allow time for
highle conceptual questions and
[1:42]
discussion. And out of respect for the
church and their scheduled activities,
[1:47]
we do need to conclude and exit the
building prior to 300 p.m. And we
[1:51]
appreciate everybody's help in keeping
us on schedule.
[1:56]
» Thanks.
[2:00]
» Before we talk about any ideas for the
future of this site, it's important to
[2:04]
be very clear about where things stand
today.
[2:08]
This property is not currently zoned for
commercial use and no zoning approvals
[2:13]
have been granted. It remains primarily
zoned act one and act two and any change
[2:18]
no matter what the type of development
would have to go through the full public
[2:23]
process required by law. That includes
formal applications, posted agendas,
[2:29]
public hearings before the planning and
zoning commission and final
[2:33]
consideration by the town council.
No previous mayor, council, or
[2:38]
commission have approved commercial
zoning for this property.
[2:43]
Over the past several years, certainly
the last five, and even earlier, there
[2:47]
have been ongoing conversations at a
high level about the long-term future of
[2:52]
this land.
Earlier this year, the family that owned
[2:56]
the property contacted the town to
explore selling it as a single track. In
[3:03]
the past, it was always discussed that,
well, maybe they're going to sell off
[3:06]
this, but keep the house, and so on and
so forth. And when uh prospective
[3:10]
developers would come in, they were kind
of more interested in all of it versus
[3:13]
part of it. Um, so the town has been
consistent with what we share, and we
[3:19]
don't make any promises. Every
prospective developer has been told the
[3:24]
same thing
[3:30]
and I know David can attest to this. If
the land were to develop residentially,
[3:35]
we explained to all prospective
developers, it would have to be minimum
[3:40]
1acre lots would be required and
multi-tenant and multifamily housing
[3:45]
would not be permitted.
The town would not offer any tax
[3:50]
abatements.
The town does not have funding to invest
[3:54]
in the development of the site.
Any mixeduse or business development
[4:00]
would require the developer to
independently secure and fund wastewater
[4:05]
or sewer capacity. Proper
drainage capture and mitigation would be
[4:11]
required to protect neighboring
properties including Kut estates and the
[4:16]
Broly property and all drainage
solutions subject to town standards and
[4:21]
review. So these are the discussions
that we would have when we would get
[4:24]
these inquiries.
No buildings taller than two stories
[4:28]
would would be required. If you wanted
to go above two stories, you would need
[4:34]
to allow for additional fire protection
resources, potentially including new
[4:39]
equipment for the Double Oak Volunteer
Fire Department.
[4:42]
Double Oak is a dark sky community and
lighting standards will be enforced.
[4:48]
Traffic access would need to be
primarily oriented to 407 and not
[4:52]
surrounding neighborhoods.
In most cases, those inquiries never
[4:57]
went anywhere and no follow-up occurred.
All preliminary conversations regarding
[5:02]
utilities,
[5:07]
especially wastewater, were exploratory
only and did not represent approval,
[5:12]
commitment, or predetermined outcome.
What's being discussed today is
[5:18]
conceptual.
No applications have been filed, no
[5:21]
zoning changes have been requested, and
no decisions have been made by any
[5:26]
entity of our town.
As approved by town council a few
[5:30]
meetings ago, the town has engaged an
outside city planner to assist with the
[5:35]
future planning and to ensure any
potential requests are evaluated
[5:39]
consistently and professionally. Randy
Rivera is sits right over here at the
[5:44]
corner and she is that person um that
will be working with us on uh this
[5:49]
project.
Over the past two weeks, preliminary
[5:54]
discussions have taken place to outline
what steps a developer would be required
[5:58]
to take if they choose to move forward.
Obviously, that's our meeting from two
[6:02]
weeks ago. Direct Retail Partners has
prepared some initial conceptual
[6:07]
architectural ideas which are being
shared today specifically to gather
[6:11]
citizen input and feedback early in the
process. They have also had some
[6:16]
meetings with some of the homeowners
that live in and around the property.
[6:22]
This meeting is intended to provide
transparency,
[6:25]
share information, and listen. Any
future requests would still be required
[6:29]
to be formally submitted and reviewed
through the town's established planning,
[6:33]
zoning, and public hearing process, just
like any other project.
[6:41]
It's also important to understand why
this property matters from a longerterm
[6:46]
planning and budgeting perspective.
Development, if proposed, approved, and
[6:51]
ultimately built, could contribute sales
tax and commercial property tax revenue
[6:56]
to the town. Unlike residential growth
alone, non-residential development can
[7:02]
help broaden the tax base and reduce the
reliance on homeowners to carry the full
[7:07]
cost of municipal services. As shown on
our boards up here when you all get to
[7:12]
take a look, um double oak still remains
at or very close to the top of the
[7:19]
lowest property tax rates in our
surrounding towns and cities. that
[7:23]
reflects years of careful budgeting,
conservative financial planning. As
[7:27]
costs rise and infrastructure needs
grow, however, maintaining that position
[7:32]
becomes even harder.
Thoughtful, wellplanned development, if
[7:36]
approved, can help support essential
services while helping keep residential
[7:40]
property tax rates as low as reasonably
be reasonably possible.
[7:45]
None of this is a promise or a
prediction. Any potential benefit
[7:50]
depends entirely on what is proposed,
how it performs, and whether it is
[7:54]
approved through the public process.
[snorts]
[8:01]
Our responsibility as town government is
to balance community character, fiscal
[8:06]
responsibility, and transparency. The
concept being shared here today is
[8:10]
intended to provide context and
understanding only and does not
[8:15]
represent a commitment by the town or an
approval of any kind. To help everyone
[8:20]
better understand the developer involved
in this early conversations,
[8:24]
I'd like to briefly introduce Direct
Retail Partners. Direct Retail Partners
[8:29]
is a privately held commercial real
estate development firm with more than
[8:33]
two decades of experience in retail and
mixeduse projects primarily across the
[8:37]
southwestern part of the United States.
Founded in 1997, the firm focuses on
[8:43]
developing, acquiring, and managing
well-located commercial properties,
[8:47]
including projects comparable in size
and scope to the approximately 23 acre
[8:52]
track being discussed here in Dubo. The
firm is led by David Watson, a founding
[8:57]
partner and ex who has extensive
experience in commercial real estate
[9:02]
development, investment, and long-term
asset management. And also by Chris
[9:06]
Hips, a senior partner with deep
expertise in retail development, leasing
[9:11]
strategy, and project execution.
Together they bring decades of hands-on
[9:16]
experience guiding midscale projects
through planning
[9:24]
planning entitlement construction while
working collaborative with the local
[9:28]
collaboratively with local governments
and communities.
[9:32]
With the background that I just uh
shared with you, I would like to
[9:35]
introduce David Watson and Chris Hips
and invite them to walk through the
[9:39]
conceptual ideas they're exploring for
this site.
[9:44]
Thank you, mayor. Appreciate it. Mayor,
>> I have kind of a loud voice. Can y'all
[9:50]
hear me without that microphone?
>> Not very well.
[9:53]
» Go ahead.
>> That's the first time I've ever been
[9:57]
told that. Um,
um, so our our firm is Direct Retail
[10:03]
Partners and uh we've been active uh in
this business since 97. Um, we've been
[10:10]
real active in this trade area since
2002. And so I thought I would just kind
[10:15]
of give you some of the projects that
we've done. So rather than listening to
[10:18]
me talk, you can actually see what we've
what we built over the years. So, um, I
[10:23]
think the first project we built was the
Target Center up at $24.99 and 407. Um,
[10:29]
at that time, the community of Flower
Mount was very interested in in a
[10:33]
shopping center that looked that didn't
look like it was new. They wanted
[10:36]
something that looked older that uh had
been there for quite some time. And so
[10:41]
you can kind of see that architectural
theme through that development. Um we
[10:45]
went across the street after that and
built the Lowe's anchor shopping center.
[10:49]
And when that center was constructed,
town very much wanted sort of a ranch
[10:53]
theme about it. They were concerned
about water. So we put that sistern and
[10:57]
sort of water tower in the back. Um
after that we went down and built the um
[11:02]
Robertson's Creek Center. Um just just
on Dixon at 24.99.
[11:08]
Um um so that totaled about a million
and a million3 and square feet at that
[11:14]
intersection. The Robertson's Creek at
the time the the owners wanted to
[11:17]
memorialize the other owners of the
community that that had owned land in
[11:21]
the area. So we have a little thing
called Heritage Walk that goes through
[11:24]
that property. Please
>> sorry we get to the microphone because I
[11:27]
can't hear you.
Um yeah, so um that project we um we did
[11:35]
a little a thing called the heritage
walk where we put some obelisk in the
[11:38]
property and put um um panels up that
talked about how um the families that
[11:44]
owned the property. We also built the
Tom Thumb Center um over in front of
[11:48]
Bridlewood um back in the day. Um, and
so, uh, that along with Highland Court,
[11:55]
which is a residential community on
Rippy Road. So, I think that's six
[12:00]
projects in the area, and I just want to
go through them, not because we did six
[12:04]
projects, but because you can kind of
see, you know, the quality of our
[12:08]
product or lack thereof based on your
opinion. Um,
[12:13]
so, as the mayor shared, we're early on
here. Um, we've contracted to purchase
[12:19]
the property. Um it's a difficult piece
uh just to be honest with you. Um as you
[12:26]
know it does not have sanitary sewer and
for many um that just precluded any
[12:32]
development interest whatsoever. Um we
had some clients some grocery clients a
[12:37]
couple of them that were expressing
interest in the intersection. So we kind
[12:41]
of sunk our teeth into it a little bit
and we were able to locate sanitary
[12:45]
sewer in Lantana across the street. Um
we've spent I don't know about 20 grand
[12:52]
with the city trying to understand
[clears throat] um how much capacity
[12:56]
there is in the sanitary sewer line and
it's been determined that there's enough
[13:01]
capacity to handle our development and
the folks in Lantana have been really
[13:05]
really cooperative um uh with us kind of
excited about another food store. Um
[13:12]
so that along with um the the the
current topography I guess um from
[13:20]
Simmons Road moving west the land falls
20 ft.
[13:25]
So that's a pretty dramatic drop. And so
you'll see um in order to manage the
[13:31]
storm water we had to come up with a
grading plan and and two two rather
[13:35]
large storm water ponds. And the what
the stormwater ponds do without getting
[13:40]
into a bunch of engineering detail is is
basically it holds the water that's
[13:43]
generated by the development in those
ponds and releases it out of those ponds
[13:48]
just as if the development wasn't there.
So it it the water flows downstream at
[13:54]
the same rate that it would as if it was
just natural land. That's the permanent
[13:58]
that's the purpose of those storm water
pumps.
[14:01]
Um I don't want to talk a whole bunch. I
mean I'm happy to kind of show you.
[14:05]
Chris, you want to direct as I talk a
little bit?
[14:09]
» Um,
>> so these are the storm water ponds.
[14:11]
One's at the southwest corner. This is
the Broly track and there's the pond.
[14:16]
And this our other
>> This is one storm water pond at the
[14:20]
southwest corner of the site just to the
north of the Browley Farms storm or
[14:26]
retention pond. And then our second
retention pond as you see here is
[14:30]
located parallel to it. So those are the
two areas that David was talking about
[14:34]
where when storm water starts to run off
the site obviously east to west given
[14:37]
the fall where that storm water is
captured that's being generated from the
[14:41]
development.
>> The balance of it you can probably see
[14:45]
um 407 obviously goes across the top and
that's Simmons Road running north and
[14:49]
south. The eastern half of it if you
will is the grocery store in the box and
[14:55]
um then that shallow bait up retail just
to the east. It it it won't look very
[15:00]
dissimilar. um or it looks very similar
to um brute or ran in 1171 if you wanted
[15:06]
to see what the product looked like kind
of a similar size building and a similar
[15:10]
size grocery store that tom that tom
there and the retail building associated
[15:14]
with it. So it'll give you a scale and
idea of what what that looks like. The
[15:19]
three sites across the top are simply
pad sites. Um people that would
[15:23]
typically be found there are banks,
restaurants, Chick-fil-A, Chipotle,
[15:28]
people like that. So, those are those
three sites right across the front of
[15:32]
407. The other two buildings are just
other commercial buildings. Um, they're
[15:37]
a little bit different in that they
provide um additional showroom or
[15:42]
additional storage. We do that by making
them a little bit deeper. Retailers like
[15:47]
um furniture stores, appliance stores,
flooring companies, Marble and Tile,
[15:54]
Sherwin Williams, Leslie's Pool. Those
are the kind of people that you would
[15:58]
find in those buildings. So, we want to
kind of give you a feeling for the
[16:01]
tenants that would be there.
Um,
[16:06]
I don't know really I don't want to
these are three different styles of
[16:10]
architecture. Um, you know, you can
y'all are very familiar with the Target
[16:14]
and Lowe's and familiar with the Tom
Thumb. So, you can at least see um the
[16:19]
care we put in those back in the day.
Um, I don't know that any architecture,
[16:24]
unless you looked at it, said we really
like that or a group said they really
[16:27]
like that. Um, that's 20 years old. So,
um, we felt like we developed it to kind
[16:33]
of be timeless, but certainly there'd be
some updates to it. And as we get
[16:36]
further into it, if we get further into
it, um, you know, we're happy to share
[16:41]
what those ideas are.
Um, something to share is we're we're
[16:47]
not going to get in a fight. Um, so if a
if the majority of people don't want to
[16:51]
do it, then we're not going to do it.
I'm old enough to where I don't need to
[16:54]
build another shopping center. Um, if
it's something the community wants and
[16:59]
um and we can work together and, you
know, develop it the way you want it,
[17:04]
um, I can I can assure you that we have
the aptitude to do what we say we're
[17:07]
going to do. And I'd like to think that
the amount of development we've had in
[17:10]
the area confirms that. But if y'all
don't want it, the town doesn't want it,
[17:15]
we're gone. You won't hear from us
again. We just simply thought that
[17:19]
because we had two quality food stores
interested at the intersection and
[17:23]
knowing the quality of those food
stores, we're going to be able to
[17:26]
attract tenants like the tenants at
Brattlewood out in front of Brattlewood
[17:30]
at Brute Nor in 1171. We thought most
communities, not necessarily this
[17:34]
community, but most communities like
that. It's class A grocery anchor
[17:38]
development that's going to attract
quality neighborhood service tenants and
[17:42]
likely quality banks and restaurants on
the pads. Um, and so you you there's not
[17:49]
going to be any hostility from us or
anger or anything like that. So just um
[17:54]
if y'all want to have a discussion and
ask any questions about it, we're pretty
[17:57]
much an open book. Only thing I'd tell
you is it's frustrating because there's
[18:00]
questions about traffic we've had before
and there's some questions about
[18:04]
lighting and those studies have not yet
been done yet, but they'll need to get
[18:08]
done um prior to any kind of public
hearing. So, um I'm not trying to dodge
[18:14]
traffic questions. There's obviously
going to be additional traffic that um
[18:17]
goes through the intersection. Um and I
can kind of if when it comes to
[18:21]
lighting, you've had questions about
lighting, I would just encourage you to
[18:24]
drive to the Tom Thump Center and see
what that lighting looks like at night.
[18:28]
Most developers want to put up really
tall poles with really bright lights on
[18:31]
them because that's the cheapest way to
do it. That's not what we're proposing
[18:34]
here. And I think if you drive that Tom
Thump Center, you'll see what we're
[18:37]
talking about at night.
So
[18:40]
without any other comments, um let's if
anybody has any questions, happy to
[18:46]
address them.
>> Could Could you um Chris show where the
[18:51]
entrance is into the shopping center off
of Simmons?
[18:55]
» Yeah. So [clears throat]
um this is Simmons Road 407. This is
[19:01]
that lighted intersection. Um there's
obviously a dedicated left-hand turn
[19:04]
lane um into Simmons. are the main
entrance that runs across the front of
[19:09]
where that grocery store will be or the
food store is right up here. This, if
[19:13]
you're you're probably mostly familiar,
that's where that water tower is. And so
[19:18]
the um nearest residential lot is
actually kind of south of where that
[19:22]
main entrance is to the front of the
grocery store. [clears throat] So that
[19:25]
would be that kind of main entrance
drive that runs east west across the
[19:29]
front of the grocery store. you know,
probably is the most um that along with
[19:33]
the entrance off 407 is the most kind of
we would assume, you know, pending a
[19:37]
traffic impact study, the most kind of
traffic area to go and access that
[19:41]
grocery store. And the second one, which
you [clears throat] may not be familiar
[19:45]
with cuz there's no reason to take a
left turn there now, uh but is the
[19:49]
entrance off 407, and that's a left in.
So, there's a dedicated left-hand turn
[19:53]
lane here. It's a ride out, a ride in
heading eastbound off of 407 and then a
[19:59]
ride out. So, it's a full service
intersection with the dedicated left
[20:02]
currently.
>> Can go a little bit further about the
[20:06]
Simmons. So, is there actually going to
be an entrance way off of Simmons
[20:10]
itself?
>> Yes. Yes. And that's the one I'm sorry,
[20:12]
you may not be able to see it here, but
the the main entrance to or one of the
[20:17]
main entrances to the grocery store is
off of Simmons. So, does that mean that
[20:21]
food trucks, supply trucks, distribution
trucks are going to be using Simmons?
[20:26]
» I'm sorry,
>> she asked if she asked if food if uh
[20:31]
like 18 wheelers and large delivery
trucks might be using Simmons. And I
[20:35]
think the answer would would be yes from
407 to the entrance of the shopping
[20:40]
center. Um I think we can legislate and
I don't think a trucker would want to do
[20:44]
it anyway, is going to turn south on
Simmons. So yes, from 407 to the rear of
[20:51]
the grocery store, there'll be some big
truck traffic.
[20:56]
» So then can we assume also that they'll
try to go around that intersection and
[21:00]
use Kings Road to come up the other way?
[21:05]
» I I I wouldn't I wouldn't assume that.
Yeah,
[21:08]
» one one could, but I wouldn't assume
that they're going to take the they're
[21:11]
going to take the path that that that
the store dictates in the path that's
[21:15]
most convenient. And by far, that's the
most convenient path.
[21:20]
» Yes, sir.
>> I can't [clears throat] read the fourth,
[21:23]
but what size grocery store?
>> 58,000 ft. It won't be any bigger than
[21:27]
58,000 ft. And put that comparison.
That's the Kroger's double that size.
[21:33]
And the the the little top thumb over on
Brute Noran 1171. That's that's that's
[21:38]
right at 58,000 ft.
>> Can you check me that size with the the
[21:44]
Whole Foods market?
>> I'm sorry.
[21:46]
» You know the Whole Foods?
>> Yes, sir. I do.
[21:48]
» How big is that?
>> Pretty close. I think that Whole Foods
[21:51]
about 48. I can confirm that. That's 58.
>> So that's about that size.
[21:55]
» Yes, sir. So, who's which which grocery
store do we need or over here?
[22:01]
» I can tell you they're in, you know,
they're in the business to make money
[22:04]
and there's two of them that are
interested in which which
[22:07]
» I can't tell you.
>> I can't tell you right now.
[22:11]
» I'm very familiar with all the grocery
stores. I'm just saying that there's two
[22:14]
of them that are interested in this
location. I I cut you off. So, I'm going
[22:18]
to go back to you for a followup.
>> Yeah. Um, it's too early to determine
[22:22]
whether or not you'll apply for a beer
and wine license.
[22:26]
» We're going to need to apply for a beer
and wine license
[22:29]
» in order to get a food store.
>> Yes, ma'am.
[22:33]
» As I mentioned at an earlier meeting,
that's going to be a backup of cars
[22:39]
getting in and out of the grocery store,
which is right across from our house. Um
[22:45]
and then thinking of a semi also moving
in turning and backing up to 407. I see
[22:53]
[clears throat] that to be problematic
>> and noisy.
[22:57]
» Yeah. So that that's a good question.
[23:02]
» Can't hear.
>> The question was how are we going to
[23:06]
handle traffic basically on Simmons
Road? Um is the traffic going to back up
[23:11]
into 407? I'm I'm putting more words in
your mouth than the question was, does
[23:15]
it need a del lane? Does it need its own
its own del lane to go into um the
[23:21]
entrance off Simmons? Same thing on 407.
If you're if you're eastbound on 407,
[23:26]
are we going to need a del lane to get
in so it doesn't back traffic up on 407?
[23:30]
So, part of what we do if we decide to
continue is to do a traffic study. And
[23:35]
it's somebody the city will approve. Uh,
it's a consultant that comes in. Y'all
[23:40]
seen them. They put the wires down and
based on where the uses are and what the
[23:44]
uses are proposed to be. These guys are
really, really good at telling you how
[23:49]
many how many trip starts will be
generated by the development and how the
[23:53]
cars will most likely come in. So, at
each opening, we can tell you how many
[23:57]
new starts they're they're planned to be
per day. I know that's hard to believe,
[24:01]
but they can do it. They they do it.
>> It's it's it's pretty amazing.
[24:06]
» Yes, sir. Are you contemplating a sea
store or G store in one of those pads?
[24:11]
» No [clears throat] sir. Um it depends on
which ger goes. Both grocerers want gas.
[24:17]
Okay.
>> And that's that small facility right
[24:20]
there. Um they have requested, you know,
a larger gas pad with convenience on it.
[24:26]
And um I'm I'm being as transparent as I
can with you. We're trying to not do
[24:31]
that. And I think ultimately we'll have
the leverage because there's interest
[24:35]
from two to say look we're going to go
with the one that doesn't want the big
[24:38]
convenience store on the on the endcap
thumb at Bridalwood
[24:43]
um or bruton 1171 has a gas station
there if you go look at it that's
[24:49]
similar to what we're pushing to have
for here so it would be um six multiply
[24:53]
pump dispensers and then a small service
hut is what I typically call it
[24:57]
» but necessarily on the corner or in the
middle
[25:00]
» point uh here.
>> Yeah. That
[25:04]
» and you can orient that in different
ways obviously. So we're working with
[25:07]
those grocerers right now to work on
>> thumb kind of has it in the middle.
[25:10]
» It does. Yeah. Yeah. And so what we're
we're trying to take what we're trying
[25:15]
to utilize right now with the grocery
stores is put it in [snorts] a obviously
[25:19]
convenient location for their customers
but not something that takes away from
[25:22]
good opportunities for us and the
community from a restaurant, a bank, a
[25:27]
retail standpoint. So, we're trying to
retain the best location for everybody.
[25:31]
» It seems like more backup of traffic
that kind of corner.
[25:34]
» Yes.
>> It's it's just if you drive I mean, I'm
[25:37]
not saying it's right, but if you drive
90% of the shopping centers that that
[25:42]
little we're just trying to minimize it,
you know, it it ends up sitting on the
[25:46]
hard corner.
>> Yes, sir.
[25:48]
» Could you talk a little bit about timing
and what your forecast for that would
[25:52]
be?
>> Sure.
[25:54]
Um it's been pretty slow to date because
we've had to um come up with the grading
[26:00]
plan that we talked about and make sure
that the that those um the utilities
[26:05]
were available. But if we were to go
forward um it wouldn't be a rush,
[26:11]
» but we need to be efficient about going
forward. Um, so timing, um, we'd
[26:17]
probably want to be closed late spring,
um, and underway probably
[26:25]
July. I'm a little bit guessing, but
that's that's the normal time frame. Um,
[26:30]
the reason that there's pace about it is
these food stores are really really
[26:34]
active currently. They haven't been
active for a long time, but they're
[26:38]
really active now because of the growth.
And so they have so many opportunities
[26:42]
that they're evaluating currently that
they can kind of tell, you know, whether
[26:47]
by the pace as to whether this is going
to happen or not. And so we just know
[26:50]
that you've got to you got to stay up
with their pace. And so they'll expect,
[26:54]
you know, a closing and a commencement
kind of like we talked about.
[26:58]
» So if you start next summer, how long is
the construction process?
[27:01]
» Uh 10 to 12 months. [snorts]
>> How long have you worked on it before
[27:06]
the You said it's been slow. Uh we've
been under contract, Chris, you know,
[27:11]
July, been under contract since July.
And so Lantana was like, "We we think
[27:17]
there's capacity in the line, but we're
not going to go. We're not going to pay
[27:20]
to go do it. If y'all want to pay to go
do it." So then we had to find, you
[27:23]
know, find somebody that was acceptable
to them and acceptable to us, that was
[27:26]
competent to go do all that. So that
took most of the time. And then to grade
[27:30]
it, the sanitary sewer and the grade,
you have to they they complement each
[27:34]
other. You have to kind of make sure
they work together. So it was it's
[27:37]
complicated
it it it a lot of a lot what has to do
[27:42]
with those those where those buildings
are located and how they're located is
[27:46]
one their marketability and then two how
the how the grading works. Yes sir.
[27:50]
» I know you haven't done any traffic
studies but can you give us idea what
[27:53]
kind of volume of cars uh is going into
the Tom Thumb Shopping Center?
[27:58]
» I don't I I just don't know. I don't
follow it that way. I follow
[28:02]
» you built it. But you don't have an idea
of the volume that's going in. I don't I
[28:05]
built it. I'm sorry you're disappointed.
I built it 12 years ago,
[28:11]
15 years ago.
>> So, I mean, I don't I have no idea. I
[28:14]
can find out.
>> I could be a good idea.
[28:16]
» Okay.
>> Yeah. Yes, sir. Yes, sir.
[28:21]
» At an earlier meeting, uh part of the
discussion that came up was uh the wall
[28:27]
between 407 and Simmons, running down
Simmons. How far would that go? You
[28:34]
know, that's one of the fun things we
can work on, especially if that's
[28:36]
» We're real concerned because that's our
property.
[28:39]
» Yeah.
>> People walking and you said there's
[28:41]
going to be a sidewalk, too.
>> Sidewalks.
[28:45]
» Yeah.
>> We all get to be on both sides of
[28:47]
» Yeah. We can we can do it any
[clears throat] way you want. So, that's
[28:50]
that's what's fun about these meetings.
I mean, I I encourage you to drive Rippy
[28:54]
Road um and see and see um see that wall
in the landscaping and the meandering
[29:00]
path that So, we we can do it that way
where you don't see anything or we can
[29:05]
do it lower. It's it's just interaction
what you want to look at. And
[29:09]
» see, we don't want to see anything
putting a 7 foot wall on one side of
[29:13]
Simmons. We'd like a 7 foot wall on our
side. So
[29:18]
» we're not getting all the noise bouncing
off that large wall back into our our
[29:22]
property.
>> Okay.
[29:23]
» And pedestrians.
>> That's not prohibitive. I don't think
[29:27]
we'd have to get into the design of it a
little bit.
[29:30]
» Yes, sir.
>> Couple more questions [clears throat] on
[29:33]
your perspective tenant here.
>> Is this site in competition with other
[29:37]
sites they're looking at in 407 area?
>> Sure.
[29:42]
» Sure.
>> So time is nearly over. Yes, I think is
[29:45]
where we go here.
>> Time time is of the essence, no doubt.
[29:48]
» And what is your game plan longer term?
Do you're obviously a developer and get
[29:52]
it up on lease, but do you sell the
property? Are you are you guys long-term
[29:55]
owners?
>> Sometimes we have a portfolio of a
[29:58]
couple of million feet of retail that we
own. Um we don't have to own it forever.
[30:03]
Um the market goes up and down, prices
go up and down, rent goes up and down.
[30:07]
We kind of let the market or the retail
space speak for itself as to when might
[30:12]
be a good time to sell it or when not.
>> I guess the grocery store tenants going
[30:16]
to want 24/7 hours, aren't they?
>> I I think so.
[30:20]
» Well, there's a chance maybe not.
>> Yeah, I think so, though. I would I
[30:24]
would I would agree with you.
>> How about the the other pads? But most
[30:27]
of those will be closed by 9:00, 10:00.
>> There's not going to be any 247 pads.
[30:33]
» Okay.
>> Somebody I got in the background. Yes,
[30:36]
ma'am. Uh all the way I'm sorry. Okay.
Go ahead, sir.
[30:40]
» How will this affect
if at all?
[30:44]
» Living
>> living. Excuse me.
[30:46]
» It's gone.
>> What was the question?
[30:47]
» Are they gone?
>> Yes. Okay.
[30:51]
» Yes.
>> In your development at this site, is
[30:55]
there any retail for those sites
[clears throat]
[31:00]
uh that would not be that y'all do not
consider?
[31:06]
Do you have any exclusions as to what
would definitely not be considered?
[31:12]
» Do you have anything that that you would
suggest that you because that may be an
[31:16]
easier way to go about it.
>> Well, you know, typically you would talk
[31:19]
about liquor stores.
>> Yeah,
[31:22]
» we talk about um
>> there won't be a liquor store there.
[31:25]
» Adult orientated.
>> What?
[31:27]
» Adultoriented.
>> Not going to be [clears throat] any
[31:29]
adult oriented prohibited.
>> No massage parlor,
[31:33]
» no vape shops.
>> Yeah. So the the grocery cares about
[31:37]
that just as much as we do. [laughter]
The grocery cares about that just as
[31:41]
much as we do. And so when we enter into
the agreement with the grocery store, we
[31:46]
execute and record against the property
a noxious use, prohibited use list,
[31:51]
which is everything that we don't want
to see at the property. And so we
[31:53]
mutually agree on massage parlor, you
know, liquor stores, sexually oriented
[31:57]
business, vape shops. So we agree on
that and we actually record it against
[32:01]
the property. So, it's not just you
can't lease this. It's actually
[32:04]
recorded. So, it runs with the land.
>> So, it'll be a public record. So, you
[32:07]
could we'll give you a copy of what what
it says.
[32:10]
» Deed restriction.
>> Oh, absolutely. It runs with the land
[32:13]
with the deed.
>> Uh yes, ma'am. All the way in the back.
[32:18]
» So, have y'all close on this yet or is
this still contingent?
[32:21]
» No. No, we've not closed.
>> Okay.
[32:23]
» We're just under contract.
>> So, you will then purchase it and then
[32:26]
start developing it.
>> That's correct.
[32:27]
» Yes, ma'am.
>> Okay. So, we do all the uh traffic
[32:31]
studies and things before you close on
the property.
[32:33]
» Oh, yes, ma'am.
>> Yes.
[32:34]
» Okay. And before the public meeting?
>> Uh, yes. If it's if it's We're not going
[32:41]
to like try to put the traffic by you.
We're going to all know what the traffic
[32:45]
is before um we agree or disagree.
>> I have some friends that literally live
[32:51]
right there on the corner, right there
by that Wonder Tower. And I mean, this
[32:54]
is going to change their entire life.
>> Yeah. I understand
[32:58]
» and I feel for those people
>> are your children.
[33:02]
» We do too.
>> Yes, ma'am.
[33:06]
» Okay. Would you clarify on that map
because I'm very confused. First of all,
[33:11]
can you with your finger go around all
the property that you would be buying or
[33:17]
whatever?
>> Yeah. Yeah. So, if the green's kind of a
[33:21]
good area because that's our landscaping
and our buffer zone. So, if I take it
[33:24]
here and I'll run across 407
all the way to Simmons. We do not own
[33:29]
that little corner, which is low
currently. Um, down south on Simmons,
[33:35]
west across the Broly property, north
across the Broly property,
[33:39]
west, and then north again. So, that's
entirety of the track. That's the full
[33:43]
» 23 acres.
>> And then those, it's hard for me to see
[33:47]
from here to the upper part of the
grocery store. Is that parking
[33:53]
» here?
>> Yes.
[33:54]
» Yes, ma'am. That's parking.
>> Okay. And then what about to the left of
[33:57]
that? What would all that be?
>> Um, this is this would be parking here,
[34:02]
service area here, um, green space with
detention,
[34:07]
uh, truck service area here, and then
parking here.
[34:11]
» The buildings are outlined in color.
Most everything else is parking
[34:16]
» except except the things that are blue
and those were are the storm water
[34:20]
detention ponds.
>> Right. So underneath the two yellow at
[34:24]
the top
>> are those buildings there. Yes. Right
[34:27]
there.
>> That's just it's just parking.
[34:30]
» Okay. Now all that even with the black
line there is all parking.
[34:33]
» Yes, ma'am.
>> Okay. Thank you.
[34:35]
» Sure. Thank you. Yes, sir. Oh, I have a
question about the um the two properties
[34:42]
that you described as large retail
um like furniture stores, things like
[34:49]
that. So, there's two of those I believe
that are outlined.
[34:52]
» Correct.
>> Okay. And one closest to the left.
[34:55]
» Um yes, that one.
>> Our property abuts that property there.
[35:00]
Correct. Actually, right on 407. We have
a There you go. And so, uh, we're kind
[35:06]
of curious. I mean, we've got specific
issues. I might bring them up, but, uh,
[35:10]
we'd be concerned what about probably
the height of the buildings. So, earlier
[35:14]
the conversation was mentioned about,
uh, when the mayor was speaking that it
[35:18]
was, uh, cap their two uh, twotory
building.
[35:22]
» Correct. is do you see in any of these
uh potential uh
[35:28]
sites or or uh retail outlets that would
want uh what's the approximate height of
[35:35]
those buildings?
>> The approximate height of a of a grocery
[35:39]
store is about 29 ft.
>> So, um those those buildings will be
[35:45]
about that size, no higher than that.
And if I if you're worried about seeing
[35:49]
them, I think, and worried about hearing
from them, um there's a drawing that we
[35:53]
can do. We're just not there yet, where
we can put someone standing in whatever
[35:58]
position in your yard that you're
worried about and then we can put the
[36:03]
finished grade and then put the building
up and you can see what you'd be able to
[36:07]
see of the building.
>> Okay.
[36:09]
» It'll be very accurate.
>> Question.
[36:12]
» Yes, sir. You guys have the experience
with all that pavement as opposed to
[36:17]
open field.
Now, of course, if we have an inch of
[36:21]
rain, it's going to be an inch of rain,
whether it's open soil or park pavement.
[36:28]
What is the
what's your feeling for the in the
[36:33]
increase in runoff on pavement versus
[clears throat] what is there now?
[36:37]
Because that water is all going to flow
south.
[36:40]
» We're very very aware of that. Okay.
>> So, how Chris, how big are those two
[36:44]
storm water pumps? [clears throat]
>> This is probably an acre and a half and
[36:49]
that's probably close to two acres.
>> So, it's 3 and 1/2 acres that we're
[36:54]
buying that we're putting in detention.
Um, so that's a pretty serious
[36:57]
commitment. Um, not to mention the cost
of the detention. It's it's not easy.
[37:02]
It's not hard to find, you know, what
the rules are. Um, the mayor mentioned
[37:06]
them earlier. So that whole design, the
whole gra grading design and the whole
[37:11]
size of those ponds, I just don't come
up with that. A civil civil engineer
[37:15]
does that. And the whole um plan is
based on a 100redyear flood. And that's
[37:20]
a pretty standard uh it's a very
standard um criteria that you solve to.
[37:26]
So in in unless there's a 100redyear
flood, [clears throat]
[37:32]
whatever however it rains, however fast
the water runs off the concrete, the job
[37:37]
of those um 3 and 12 acres of storm
ponds is to hold that water and release
[37:42]
it at the same pace as if the property
wasn't developed.
[37:48]
[clears throat]
>> As if it's as as if the property is like
[37:52]
it is now. Correct.
>> Feel correct. That's the requirement.
[37:57]
Okay, I have to think about that.
>> Yes, sir.
[38:00]
» Um, you may have answered this. I'm not
hearing that well, but how many parking
[38:03]
spaces on this is this?
>> Um, it's a good question. Um, because
[38:08]
it's different uses require different
spaces
[38:11]
» based on this design. How many parking
spaces?
[38:14]
» It that different uses require different
designs. So if it's a if it's a
[38:20]
furniture store, you know, it it
requires a lot less parking than maybe
[38:24]
another type store. So it's hard to be
exact, but I can give you a relative
[38:28]
ratio. So for the retail on the east
side, it's about four per thousand. Four
[38:34]
parking spaces for every thousand square
ft. On the western side, because those
[38:40]
users usually aren't as parking
intensive, it's about two per thousand.
[38:46]
» Okay. Okay. And I have another couple
other quick questions. Um, have you done
[38:49]
an independent appraisal on the impact
to market values of the homeowners
[38:55]
around this?
>> No, sir.
[38:56]
» And are you going to do that?
>> I hadn't planned on it, but if that's
[39:01]
something y'all want to see
>> going to sign significantly impact the
[39:04]
people that live
>> up and down Simmons. I mean, a lot of
[39:07]
people live in double O far away. Yes.
And this may sound like a great idea
[39:12]
because you can get to travel to a
grocery store, but the people that are
[39:15]
going to be impacted by the traffic from
South Simmons, I don't care what you
[39:19]
say, people are going to come up that
way. It's a shortcut. They're already
[39:22]
doing it.
>> And if you build this, you they're not
[39:26]
going to drive around. They're coming up
Simmons.
[39:29]
» I didn't disagree with that.
>> And this is going to negative impact on
[39:32]
all the property values up and down
Simmons Road and specifically around
[39:36]
this area. This is a This is not a
positive to market value. Nobody I
[39:41]
didn't move into double O
>> to live across the street from a giant
[39:44]
grocery store complex.
>> I here because I want a quiet community.
[39:49]
» We have to bear that in mind. What about
tax benefits? They're vaguely promising.
[39:54]
» Who's who's they
>> are not going to offset the loss of
[39:57]
property value?
>> Not can I follow up on that?
[40:00]
» There is going to be additional traffic
no doubt up and down Simmons and that's
[40:04]
» is a negative impact on property. I
guarantee you that.
[40:07]
» Okay. I would disagree with you. Just
>> work in real estate and I know people
[40:11]
don't go find me a property directly
across the street from
[40:15]
» I don't think either one of us could
tell you what's going to impact property
[40:17]
value.
>> I just want to follow up on that. I I
[40:19]
actually live right on Simmons right by
that.
[40:22]
» Yes, ma'am.
>> Um and we already in the mornings have a
[40:24]
problem getting out of our driveway with
the traffic amount that's coming in.
[40:28]
» Sure.
>> I can't imagine having all that retail
[40:31]
and the traffic is going to cause.
>> Is there talks of possibly widening?
[40:35]
Yes.
>> Oh, see that'd be horrible, too.
[40:37]
» Yeah,
>> that that's our yard. That's literally
[40:39]
we own up to the to that street.
>> So, that would affect my my house, my
[40:45]
yard, my everything.
>> No, it wouldn't be on your
[40:48]
» trucks delivering goods.
>> It would. [clears throat]
[40:50]
» So, the cemetery that has talked about
or would have based on the traffic
[40:54]
impact analysis would really be along
our frontage here.
[41:03]
» Just just to be clear, it wouldn't
affect your properties as as the size of
[41:08]
your property if there were improvements
made and that's when I said are you
[41:12]
considering widening the road in if the
traffic study comes back like we think
[41:17]
it does and there's going to be
additional traffic on Simmons then one
[41:20]
of the ways that you defer that traffic
is with that dedicated right-hand turn
[41:24]
so they would add a lane in to the
grocery store so whether you agree with
[41:28]
that don't like it or whatever I just
wanted to be clear they're not going to
[41:31]
be taking property from you as as the
road expandes if If the road expands,
[41:35]
» you're waiting for the mic around. We
can't hear you. Put the mic up to your
[41:39]
lips to talk. I can't hear you when you
got using it as a pointer.
[41:45]
» Yes, sir.
>> Thank you, Mr. Have you done your
[41:49]
geotechnical work on the site?
>> I'm sorry.
[41:52]
» Have you done your geotechnical work on
the site?
[41:56]
» No, sir.
>> Didn't think so. What is the water table
[41:59]
there? Do you have any idea?
>> No. No idea. Uh, have you talked to
[42:03]
adjacent land owners about that?
>> We've talked to some adjacent land
[42:06]
owners about the water runoff, but we
haven't talked about the water table.
[42:10]
» So, you don't know where that is?
>> No, sir.
[42:12]
» And the petroleum record uh for that
particular
[42:17]
property and adjacent properties?
>> Petroleum record in what regard? Is
[42:21]
there a is there a empty well or
something like that?
[42:24]
» Has there been any exploration in the
site?
[42:26]
» Not to my knowledge.
>> Adjacent to the site?
[42:29]
» Not to my knowledge. You haven't done
your homework,
[42:31]
» right? We have it. We want to have this
meeting first before we do that.
[42:35]
» Drill pad
>> that was drilled there about what 15
[42:39]
years ago.
>> Yeah.
[42:40]
» It was nonproductive. So, it was
abandoned plugged.
[42:45]
» It's on the um it's right off of
Simmons. It's going to be on the south
[42:49]
corner of that property. There was a a
gas well drilled there
[42:56]
» and it was only on a location for maybe
five years before they plugged and it
[43:00]
» Thank you.
>> Question on ordinances. It may be
[43:04]
premature. Are there any current double
ordinances that you expect that you're
[43:09]
going to have to request a waiver on?
>> Kendra, you have any answer to that? I'm
[43:15]
not aware of any. commercial
>> use
[43:21]
commercial.
>> So the
[43:24]
» Kendra and your consultant would will
would work together on behalf of the
[43:29]
city and us to come up with a plan
development. So that plan development
[43:33]
would have specific standards in it. So
it's not going to be a blanket
[43:36]
commercial zoning. So there would be a
negotiation, I guess, if you will, as to
[43:42]
what goes in those standards.
Yes, sir.
[43:47]
» I just curious about the development of
the property itself. So, when you build
[43:51]
something like this, do you build the
grocery store first and build the other
[43:55]
buildings later or is it all done at the
same time? What would you what would you
[43:59]
foresee in that?
>> Yeah. And so, it's all it's most of it's
[44:04]
market driven. So, when there are users
available that are quality users for the
[44:09]
pad sites, then we'll execute and move
forward with those. I can't tell you
[44:12]
when those show up. It's usually pretty
soon and so it's usually done in conj in
[44:16]
conjunction with the initial
construction of the grocery store and
[44:20]
the shopping center. The grocery store
and the retail space will go together.
[44:27]
» Yes, sir.
>> Um two quick question. Are the utility
[44:32]
companies in tune with what you're
trying to do here both serve and the
[44:35]
water company?
>> They they they will be. Again, this is
[44:39]
so preliminary. I just we that's the
best guess we've got. But all that tech
[44:43]
dot's going to have to look at this. All
the utility companies have got to look
[44:46]
at it. So there we just haven't gotten
to that point yet.
[44:49]
» Are you all contemplating any other
developments up and down 407? It would
[44:53]
have a similar concept to it.
>> No sir.
[44:55]
» If this doesn't work out.
>> No sir.
[44:56]
» Okay.
[clears throat] Yes.
[44:59]
» Would that other entrance that you
talked about off of 407? Would that be a
[45:02]
light there or is that unprotected
>> here?
[45:05]
» Yeah.
>> I I doubt that we're going to get
[45:08]
another light from Texot there.
>> Yeah. cuz then that that pushes more
[45:13]
traffic in on Simmons then unless you're
coming from the west, you know, but a
[45:17]
lot of people are not going to take an
unprotected left turn,
[45:20]
» right?
>> So, cuz people come down that road
[45:24]
» 55 miles an hour and there's a hill
right there, too. So, it's limited
[45:28]
visibility. If it were me, I would go
down Simmons cuz I wouldn't feel safe
[45:31]
taking a left turn there.
>> So,
[45:34]
» thank you. I think that's just I think
that's where a lot of concerns are going
[45:37]
to be is it feels like most of the
traffic is going to be pushed in on
[45:40]
Simmons and for residents that take that
on a normal commute or whatever that's
[45:46]
it already backs up at that white.
>> So that's that's just the challenge.
[45:51]
» Thank you. How far
>> why are we being asked to express our
[45:55]
preference [clears throat] on the
architectural design at this point? We
[45:58]
were handed a sticker when we came in
there. This is conceptual preliminary.
[46:02]
Why are you asking that of us? Um
>> what's the point of that?
[46:05]
» It's usually it's usually a topic of
conversation like people will ask some
[46:11]
point
>> someone will say what does it look like
[46:14]
it speak
>> I'm trying to trying to answer I'm
[46:16]
trying to answer your question. I'm
trying to answer your question.
[46:19]
» It speaks to credibility. If I if if if
if if
[46:24]
someone was up here and I was in your
seat and they were telling me that they
[46:28]
were going to develop a shopping center
or suggesting to me that they were going
[46:31]
to develop a shopping center.
>> Sure. And if I didn't talk,
[46:36]
» all I all I wanted to do was show you
examples of what it might look like.
[46:43]
» It typically it typically comes up
>> preference at this stage. Makes no sense
[46:47]
» because we care about it. applied
support for a project saying, "Oh,
[46:51]
[clears throat] we vote for this
already." And we don't. We haven't. And
[46:55]
I I sense a tone that when I walked in
here, it made me
[46:59]
» I'm sorry that
>> question.
[47:01]
» If if y'all don't want to do it, we're
not going to do it. I'm sorry for the
[47:03]
tone. We're I'm trying to be as open as
we can be. And if the if the majority of
[47:08]
people if the majority of people don't
want to do it, we're not going to do it.
[47:11]
» Unless you live three blocks away, sure,
it's wonderful for you. But anybody on
[47:15]
Simmons Road, the way this is, this is a
disaster.
[47:19]
» Yeah.
>> This is not our lifestyle. This is not
[47:22]
This impacts the quality of all of our
lives. And we do not want this just like
[47:26]
we didn't want the helicopter pass.
>> Amen.
[47:29]
» And this is being shoved down our
throats again for your benefit and
[47:32]
profit. Great. You're a developer. I I
understand you want those things. And
[47:36]
whoever else is benefiting that is not a
resident of Double Oak.
[47:41]
» We're not shoving anything down
anybody's throat. I opened with if y'all
[47:44]
don't want it.
>> No.
[47:46]
[clears throat]
>> Any other questions?
[47:49]
» Yes, sir.
>> So, something is going to go on this 23
[47:52]
acres
>> and this may be the best we get.
[47:56]
» So, that has to be that has to be taken
into consideration. So, let's let the
[48:01]
man talk and make his presentations
>> and not give him such a negative
[48:06]
reaction to our town.
>> I am having a negative reaction.
[48:09]
» You certainly are and we all we have all
witnessed.
[48:13]
» [clears throat]
>> I like it. Not to avoid this.
[48:16]
» Please, can can we can we keep it at a
tone?
[48:21]
» You all sit here and say government
never tells you what's going on.
[48:25]
» Well, that's
>> they came to the table. We did this
[48:27]
today
to allow you to be in the know. You you
[48:32]
heard you heard him say it's under
contract. He doesn't sign it.
[48:36]
» Let him talk for a second.
>> Speak for everybody. All we're wanting
[48:41]
to do here is to share. So, a sticker on
a sheet.
[48:44]
» I live right across the street.
>> We just like to have citizen involvement
[48:48]
in many different ways.
>> I'm going to move on just to other
[48:51]
questions. Yes, ma'am.
>> Okay. I have nothing against y'all if
[48:54]
you were doing your business. It's what
you do.
[48:56]
» Thank you.
>> Okay. And I do understand that you want
[48:59]
our input.
>> Correct.
[49:00]
» Okay. You're getting a vibe. Some people
in this room never got the vibe. Don't
[49:06]
want to get the vibe. We've all, most of
us have been there for a very long time.
[49:10]
We don't worry about the fact that our
taxes will come down or we've been there
[49:15]
for a long time. It's okay the way it
is. And answer to your question or your
[49:18]
question, we're not Oh, yeah. Up there.
What else can go in there? How about
[49:22]
more subdivision? It's a big enough area
where they could put more homes in
[49:25]
there. So, there are other alternatives
than this.
[49:28]
» I have to.
>> Yes, sir.
[49:32]
» Can I make a comment, David?
>> Yes.
[49:34]
» I've been here 51 and a half years. I
was one of the guys that started this
[49:37]
town. I've sat in your chair both as the
developer and as the financier of
[49:42]
projects like this. This is a class
project
[49:46]
by end of 27. I'll do everything I can
to support this.
[49:50]
» Thank you. Thank you.
>> Appreciate it.
[49:54]
» I I think my thought is if that entrance
into 407
[49:59]
has a traffic light, it would really
help the people in not to get the
[50:04]
traffic.
>> Okay. So maybe if TS do let you know
[50:08]
that.
>> Yeah, it's it's it's we I mean we'll
[50:12]
appeal to text dot. It's it's a text
Texas Department of Transportation. They
[50:16]
control that road. We're going to have
to get their permission to do anything.
[50:20]
We're going to have to get their
permission to to drill under the road to
[50:22]
get to the sanitary sewer. So they're
they're they got some pretty strong
[50:26]
opinions.
>> Yeah. And so they they may be in favor
[50:29]
of it. They may not. But it's it's
really not even going to be be our call.
[50:33]
» Yes, ma'am. So, real quick, since this
this site's going to be similar to the
[50:38]
Tom Thumb at Bridalwood,
>> correct?
[50:42]
» We could we can make an assumption that
it's probably going to have the same or
[50:46]
similar uh commercial revenue generated.
>> Yeah, I think that's fair. Yeah.
[50:53]
» So, can you share what the property tax
going to Flower Mound is at that
[51:01]
location?
>> I don't know.
[51:03]
» I don't know.
I'm sorry.
[51:05]
» We can look it up on the tax roles.
>> Yeah, I mean it's a it's a computation
[51:08]
of value and what the mill rate is. We
we can look it up and we could we could
[51:12]
probably get a pretty good estimate here
if that was helpful.
[51:15]
» So, you're going to stay the owner of
the property and you're going to lease
[51:19]
the buildings to
>> That's correct.
[51:22]
» The commercial users.
>> That's correct.
[51:24]
» Okay. So, you will be the property owner
>> and and often times the pad site users,
[51:30]
Chick-fil-A or Chipotle or Starbucks or
something, they'll they'll often times
[51:33]
want to own that those pad sites. So, I
don't want to I don't want to mislead
[51:37]
you,
>> okay?
[51:38]
» So, the pad sites could be sold. Um, and
ultimately the whole center could be
[51:42]
sold, but that's that through
stabilization, through us building the
[51:47]
product and getting it leased up and
stabilized, we'll own it.
[51:51]
And we may own it for much longer. Just
kind of like we talked about the fence.
[51:55]
Yes, ma'am.
>> Uh, is it some requirement that there
[51:58]
has to be an entrance on Simmons besides
one that takes the 18 wheelers?
[52:03]
» It'll be it'll be a requirement for any
type of development on that corner for
[52:08]
» a requirement from who?
>> From the grocery store.
[52:12]
» You couldn't have two 407
>> all the No, ma'am. Not not to make it
[52:16]
viable.
fire
[52:21]
» fire to be able to access the buildings
and have coverage too.
[52:25]
» But I mean, just to answer your question
practically, if it's going to be a
[52:28]
shopping center, it'll have to have a I
mean a entrance off Simmons to be
[52:31]
viable. You're not going to get any good
tenants if you don't.
[52:34]
» Yes, ma'am.
>> What should I do with my sticker?
[52:37]
» On those retention,
when we have do have like a 100year rain
[52:43]
next year or the next year, will they be
able to be drained out? so that they're
[52:49]
not full and running over and going down
the hill to
[52:52]
» Sure.
>> houses.
[52:53]
» Sure. It's it's nothing more than a
holding tank. So, it's a it's a it's a
[52:58]
big opening with a small discharge. So,
it's it's it's a big surface area three
[53:03]
and a half three three and a half acres
and then the water is discharged at a
[53:08]
slower rate through a small valve at the
end of the pipe.
[53:11]
» Discharged where?
>> Just primarily below into that pond
[53:16]
there.
wherever the we're we're responsible for
[53:21]
discharging the water out as it would
naturally be discharged if there was any
[53:26]
development above it. So, it's going to
roll downhill,
[53:31]
but it's only going to roll downhill at
the same pace that it would if the
[53:35]
property was not developed.
>> That's my That's our requirement.
[53:42]
» Anything else?
>> What do we do with our sticker?
[53:45]
» Tell us about this.
>> That's why I was just going to
[53:49]
Thank you. I appreciate it.
[clears throat]
[53:51]
» Thank you all. [applause]
>> Again, folks, this is preliminary. We
[53:57]
want as soon as we found out that the
contract was at the stage it was at, we
[54:02]
scheduled this meeting. We've had three
meetings with these developers. All
[54:07]
right. The first time when we went
through the rules and says you can't do
[54:10]
this, you can't do this. They have to
have called us back. All right. And then
[54:14]
we had a meeting just a week ago. So
we're still in the learning process as
[54:18]
well. As far as the stickers are
concerned, you've got three pictures up
[54:23]
here if you want to come up and just put
the sticker on which picture that you
[54:27]
think would be uh the best
architecturally. That was only done to
[54:31]
just get a little bit of excitement
going to get some idea on what you all
[54:35]
like. Um it could it could be something
that if developed might be completely
[54:41]
different. So, we just wanted to start
here. We're at the very, very, very
[54:46]
beginning of if this moves forward.
>> So, with that said, we're going to run
[54:52]
out of time here with the church. So, um
there will be more public meetings.
[54:56]
There will be more information shared to
the town as things progress, if it
[55:00]
progresses. So, I appreciate you all
coming out on Saturday. Thank you. feel
[55:04]
free to come up and and put your sticker
on one of the three there if you'd like
[55:09]
and we will uh talk to you all here and
keep you informed as we move forward.
[55:13]
Thank you.
>> Thank you.