Volume 19, Edition 3
August 2019
Three Times the Charm
Hurst, Euless and Bedford continue to thrive, welcoming businesses and residents.
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We all hope to enjoy a lifetime of good physical health and good fiscal health. The physical can be aided if we eat right and exercise. A new and latest prototype Planet Fitness just opened in Hurst that offers ample opportunity for exercise with its many fitness machines and weights. For our fast-paced society, Planet Fitness offers a PF 360 30 minute workout area and program.
The fiscal health of
HURST
and its citizens continues to grow as well as most all economic indicators are seeing growth and improvement through the first six months of the year. 63 new businesses have opened in the first half of the year, unemployment is at a near record low of 2.8% in Hurst, 3.6% in the State and 3.7% average across the country. The year-to-date retail occupancy for the City is 94%, ahead of the DFW market, which is 92%. Sales of single-family homes January- June has escalated to 263 home sales of existing homes with an average sales price of those homes at $250,000 and an average days on market of 35 days. Rental homes and apartment occupancy is 96% and the value of homes in Hurst improved by 8.9% over the previous year according to the Tarrant County Appraisal District.
North East Mall continues to be the flagship retail property in the City and remains nearly 100% occupied. Three new stores have opened this year; Berry Best BBQ, Old Boot Factory and Wave. New retailers soon to open will be Aerie and Gianni Men’s Wear. The mall’s JCPenney department store has been selected out of 860 JCP stores across the country to be completely remodeled into what could be the new look and
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identity for the resurging JCPenney chain of stores across the country. They hope to share with shoppers the fully remodeled/new look JCPenney store by Thanksgiving. For more information on the City of Hurst, please visit
www.hursttx.gov
or visit
www.hursted.com
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We welcome the opportunity to
hear your story of growth and
new development in Hurst.
Contact Steve Bowden at
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The Fort Worth Business Press wrote in its’ July 26 edition that consumer spending, which drives 70% of the economic activity, accelerated to a sizzling 4.3% growth rate. This figure compared to a 1.1% annual gain in the January to March quarter. Year to date, sales tax collections in the
CITY OF EULESS
are up almost 4% from the prior year.
In addition to the retail sales taxes, Euless has enjoyed positive and steady economic growth thus far in 2019. Certificates of Occupancy were issued to forty-four (44) new businesses, while 8 business changed ownership during the first 6 months of the year. If you were to look at the list, you would see that the number of retail and restaurant options available in Euless continues to increase. Opulent Cakes, Cloth and Glaze Painting Studio, The Gurkha Bar and Grill, and Planet Fitness are just a sampling of the variety of new offerings available in Euless. A review of the list would also show that many of the certificates of occupancy were issued to entrepreneurs and small businesses with a belief in themselves and in the continued strength of the North Texas economy.
Glade Parks continues to add new retailers and restaurants. Anchored by Belk Department Store, other retailers include Dick’s Sporting Goods, Boot Barn, and DSW Shoe Warehouse. Cinepolis Movie Theatre, as well as the Lazy Dog and Outback Steakhouse restaurants, will be joined by Pei Wei, 54
th
Street Drafthouse, and Dickey’s Barbeque Pit as three of the newest restaurants to open in Glade Parks. Other businesses opening include My Eye Lab and Daiso Japan.
In our industrially zoned areas, 5 businesses involved in manufacturing, distribution, warehousing, and commercial contracting are either under construction or renovating exiting buildings. Four new hotels are under construction, including a 173-room
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dual branded Home2Suites/TRU, a 95 room Comfort Inn and Suites, a 132 room ALOFT, and a 85 room La Quinta Del Sol. This will add 485 new guest rooms in Euless.
We are still experiencing modest residential development activity. We have 5 active subdivisions with over 280 lots. Construction has been completed on the following residential projects: a 151 unit market rate project called 55Plus Senior Housing @ S.H. 121, north of Mid-Cities Blvd.; the Trinity Union 478 unit urban loft project on Heritage Road; the 200 unit urban loft Apex project located along Bear Creek Parkway @ S.H. 360; and, the Gala at Oak Crest 132 unit tax-credit senior housing project at Dickey Drive @ S.H. 10. 62 single-family permits have been issued to date, compared to 104 in 2018.
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To let us know how we can be of assistance and for more information about the City of Euless, please contact Mike Collins at (817) 685-1684 or at
mcollins@eulesstx.gov
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The
CITY OF BEDFORD
is in an exciting era of revitalization and progress in both commercial and residential sectors. Redevelopment of existing properties, and revitalization of older properties are creating new opportunities for businesses to grow, and citizens to enjoy. With year-to-date commercial remodel values topping $8.5 million, and residential remodel values in excess of $12.5M, it is clear that both businesses and homeowners are reinvesting in their Bedford properties for the long term.
The City itself is participating in this trend with a $70 million bond package to fund the next phase of construction at the city’s most prominent park. Work begins soon on
Phase Next
, improvements to the park which include a re-design of Bedford’s Splash water park, additional baseball fields, tennis courts, and picnic areas. Circulation at the Park will improve with additional parking spots and numerous new trails. Also included is construction of a new multi-generational recreation/senior center with indoor aquatics, and all-purpose facilities tailored to the programming desires and needs of the citizens of Bedford. Investment in and preservation of the Cultural district is also an important element of this project, with an estimated $10 million of the bond funds being allocated to the development of Arts and Entertainment interests in Bedford. Bedford’s city leadership envisions the final product to be a world-class facility with amenities that will be multi-generational, multi-purpose, and multi-seasonal. This vision will meet the needs of residents and visitors of all ages, interests and capabilities for years to come.
As proponents of urban renewal, redevelopment and revitalization, Bedford’s City Council recently resurrected a program that encourages the
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revitalization of Bedford’s older retail centers. The
Retail Center Revitalization Program (RCR)
allows grants to property owners and tenants seeking to renovate or restore such items as exterior signage, lighting, landscaping and building façades. One of Bedford’s older shopping centers which houses Turning Point Beer, is currently taking advantage of the financial assistance offered by the City to make improvements to their center.
As summer winds down, our thoughts turn to the Labor Day weekend. We invite you to “Discover the Center” and join thousands of visitors as the City of Bedford hosts our annual
Bedford Blues & BBQ Labor Day Weekend Festival
, August 30-September 1, 2019.
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With room to grow, and opportunities available, Bedford is proud to offer an efficient “one stop shop” to discuss your perfect site. Call Bill Syblon
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SNAPSHOT
HEB Chief Economic Indicators
AS OF 2ND QUARTER
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The Hurst Euless Bedford Economic Development Foundation
is a partnership of the cities of Hurst, Euless, Bedford, the HEB Chamber of Commerce and the HEB Independent School District. The Foundation markets the three cities primarily though trade shows, professional associations and meetings with commercial real estate developers. Another focus is retaining area businesses. In addition to the partners, funding comes from area businesses.
MAJOR SUPPORTERS:
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Hurst Euless Bedford Economic Development Foundation
P.O. Drawer 969, Bedford, TX 76095 817-540-1053
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