Some positive development news coming out of Irving's Las Colinas area.
Irving Moves Forward with Economic Development Projects
Irving’s location and resources make it a premier destination for businesses despite tough economic times. City leaders continue to create a successful economic development strategy to provide jobs and expand the city’s tax base. Here are some of the projects that are currently in progress.
Irving Convention Center at Las Colinas (Under Construction)
Construction has begun on the new state-of-the-art convention center. A construction Webcam has been installed and is available for viewing on the Irving Convention and Visitors Bureau Web site where visitors can see the progress. This project has been registered for LEED certification. If awarded this designation, it will be one of only few convention centers to achieve these strict environmental standards. Predevelopment work on an entertainment complex is under way.
Heritage Crossing
More than 70 properties in Heritage Crossing have been purchased to make way for redevelopment. Construction on the first structure has been completed. McDougal Companies has identified the first $35 million in private investment for Heritage Crossing. It includes a retail townhome project on Delaware and Second streets valued at $16 million, and an apartment retail development at 200 N. Main St. valued at $22.4 million. Construction is set to begin this year.
Texas Stadium (Infrastructure Improvements Under Way)
The Texas Stadium site is a location for redevelopment. City Council has approved an agreement with the Texas Department of Transportation to lease the land for $15.4 million and use it as a construction staging location for up to 10 years. Phase one of the reconstruction of State Highway 114 and Loop 12 will provide for the elevation of Loop 12 in time for the construction of the DART Orange Line. During that time, the city has the right to relocate the construction yard to make way for redevelopment.
Water Street
The Water Street development, a mixed-use project, will bring 240,000 square feet of retail space to Irving. Currently, $4.9 million is being used for land reclamation from Lake Carolyn.
Rail Projects (DART Orange Line Under Construction)
The city is looking to capitalize on economic development opportunities through the addition of two rail projects—DART Orange Line and the Burlington Northern Santa Fe (BNSF) commuter rail extension. Steel is already on the ground for the Orange Line, which will run through Irving to DFW International Airport. To maximize the connection with private development, city leaders are promoting the creation of mixed-use development within a quarter mile of each of Irving’s eight DART transit stations. The North Central Texas Council of Governments (NCTCOG) has included the BNSF rail corridor in its 2020 Rail Plan. In addition, the NCTCOG has funded the regional rail study, which will connect Irving, Carrollton, Farmers Branch, Plano and Frisco along 30 miles of existing freight rail.
To view a video on the city’s economic development projects, visit the “Economic Development” section under the key focus areas on the home page.
Updated March 5
http://cityofirving.org/news-articles/economic-dev-projects-0309.html
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