The City Council heard a report at its work session Monday on the baseline market analysis for the East Arapaho/Collins redevelopment area, a near 700-acre study area bounded generally by Collins Boulevard, Greenville Avenue, Apollo Road and Plano Road.
The City is working with consultants to investigate enhancement/redevelopment possibilities and develop a strategy for addressing the underperforming flex space in the study area. Flex space is a building type that allows for a variety of office, research and development, industrial processing, quasi-retail sales, high tech or a combination in a single structure.
The analysis found that the study area is in a good location for redevelopment because it is near UT Dallas, major employers and a strong transportation network and has access to industrial grade internet transmission lines that could support sought-after cloud computing development. Challenges include the age of the majority of the buildings and a lack of curb appeal compared to other developments that compete for the same tenants.
City staff members recommended that the study area boundaries be revised to exclude several tracts along Greenville Avenue and Collins Boulevard that have a different character or have the potential to be considered a part of the Arapaho Station transit-oriented development. Staff will continue to work with the consultants throughout 2013 to study the area and refine and prioritize implementation strategies. After Council approval, the City is expected to begin implementing identified strategies next year.
Watch the presentation at http://bit.ly/12qPTab and http://bit.ly/WtFNAg.