TX: New $18M, 40-Acre Retail Development in Temple Announced
14 May, 2018
The Temple Economic Development Corporation (Temple EDC) and Temple Bellaire North, LLC announce a retail development project consisting of multiple retailers, two hotels and junior box anchors. The project is a $18,000,000 capital investment on just under 40 acres in North Temple across NE H K Dodgen Loop 363 from Bucee’s.
The Temple Economic Development Corporation Board of Directors approved a cash grant at their March 2018 board meeting.
“This project brings quality retail and restaurants to North Temple, which has significant growth opportunity to serve the thousands of employees that work in our Industrial Parks just across I-35 from the project” said Charley Ayres, vice president, Temple EDC. “We greatly appreciate the work Temple Bellaire North, LLC is doing to by bringing quality development to Temple with the addition of this commercial site.”
When it comes to retail jobs and economic growth, Temple is having remarkable success. Temple’s retail trade area serves a population of over 154,000 people making Temple a regional retail market. In Temple almost 5,000 people are employed in a retail trade, which is four percent higher than the national average. As Temple continues to attract new retailers giving more options for shoppers to purchase and dine locally sales tax revenue will continue to increase. In 2017 sales tax revenue for the City of Temple increased by 3.8 percent from 2016, an increase of $793,443.
“A recent retail leakage study identified specific stores and restaurants as our main targets for recruitment and this project addresses both of those targets.” Ayres said. “We are grateful to have the expertise of local developers managing this project and bringing together a mix of tenants. The new Bellaire North development will be a beautiful transformation for Temple and I-35.”
Temple, Texas, is a community with a diverse economic base that includes healthcare, distribution and warehousing and manufacturing as its foundation. Within 200 miles of a population of 19 million, Temple is strategically located 39 minutes north of the Austin Metro Area on I-35, making it central within the Southwest U.S. marketplace. For more information, visit www.choosetemple.com.