TheWriter
11-18-2005, 02:41 AM
Massive Comal project unveiled
Web Posted: 11/18/2005 12:00 AM CST
Roger Croteau
Express-News Staff Writer
NEW BRAUNFELS — Community leaders got their first look Thursday at a planned 265-acre mixed-use development that promises to be the largest of its kind in this city.
Creekside, planned for the northeast corner of Interstate 35 and FM 306, would include retail space, restaurants, a movie theater, hospital, medical office park, amphitheater, day spa, hotel and apartments.
In all, the $200 million project would include about 1 million square feet of development, rivaling the San Marcos outlet malls in sheer size.
The mixed-use development was introduced Thursday afternoon at a reception with community leaders and the developers.
"It's a huge opportunity for our city," New Braunfels Chamber of Commerce Economic Development Director Rusty Brockman said. "This kind of development provides not just jobs, but a broad range of tax base. It's a destination for people all over the area, kind of like the outlet malls in San Marcos."
But developer Jim Ray of Texas Commercial Investments said Creekside is "going after a completely different market" than the outlet malls.
Kenneth Lockard, president of Lockard Cos., Texas Commercial's partner in the project, said retailers are lining up to commit to locating at Creekside.
"The traction this project has gained so quickly, it is going to happen," he said. "This is an immense project, but we are moving quickly. I expect we'll be turning dirt in August or September and have stores open by Thanksgiving 2007."
The developers have proposed forming a tax increment financing district, which would divert the property tax created by the development to pay for road and drainage improvements needed at the site.
The developers have proposed extending FM 306 through their site. Local officials want to extend the road as part of an outer loop around New Braunfels.
"I think it's fabulous," Councilwoman Valerie Hull said. "It looks like a good, solid project. What more could you ask for?"
Monroe Miller, New Braunfels Economic Development Corp. board member, said the sales tax generated by Creekside would help the city fund other economic development projects in the future.
The intersection appears to be a hotbed for new development. H-E-B plans to build a new store, with an attached shopping center and pad sites directly across the highway from Creekside.
http://www.mysanantonio.com/business/stories/MYSA111805.1C.bigdevelopment.1b76f24c.html
Web Posted: 11/18/2005 12:00 AM CST
Roger Croteau
Express-News Staff Writer
NEW BRAUNFELS — Community leaders got their first look Thursday at a planned 265-acre mixed-use development that promises to be the largest of its kind in this city.
Creekside, planned for the northeast corner of Interstate 35 and FM 306, would include retail space, restaurants, a movie theater, hospital, medical office park, amphitheater, day spa, hotel and apartments.
In all, the $200 million project would include about 1 million square feet of development, rivaling the San Marcos outlet malls in sheer size.
The mixed-use development was introduced Thursday afternoon at a reception with community leaders and the developers.
"It's a huge opportunity for our city," New Braunfels Chamber of Commerce Economic Development Director Rusty Brockman said. "This kind of development provides not just jobs, but a broad range of tax base. It's a destination for people all over the area, kind of like the outlet malls in San Marcos."
But developer Jim Ray of Texas Commercial Investments said Creekside is "going after a completely different market" than the outlet malls.
Kenneth Lockard, president of Lockard Cos., Texas Commercial's partner in the project, said retailers are lining up to commit to locating at Creekside.
"The traction this project has gained so quickly, it is going to happen," he said. "This is an immense project, but we are moving quickly. I expect we'll be turning dirt in August or September and have stores open by Thanksgiving 2007."
The developers have proposed forming a tax increment financing district, which would divert the property tax created by the development to pay for road and drainage improvements needed at the site.
The developers have proposed extending FM 306 through their site. Local officials want to extend the road as part of an outer loop around New Braunfels.
"I think it's fabulous," Councilwoman Valerie Hull said. "It looks like a good, solid project. What more could you ask for?"
Monroe Miller, New Braunfels Economic Development Corp. board member, said the sales tax generated by Creekside would help the city fund other economic development projects in the future.
The intersection appears to be a hotbed for new development. H-E-B plans to build a new store, with an attached shopping center and pad sites directly across the highway from Creekside.
http://www.mysanantonio.com/business/stories/MYSA111805.1C.bigdevelopment.1b76f24c.html