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Southlake approves first reading of TIRZ for Shivers Farm development

Southlake City Council approved the first reading of a possible tax increment reinvestment zone, TIRZ, and preliminary project and financing plan for the Shivers Farm development’s commercial district at its Sept. 15 meeting.

What’s happening: Shivers Farm is a 40-acre mixed-use development coming to Southlake which will include 110,000 square feet of retail and a Whole Foods, according to the developer, Trademark Property Company.

A TIRZ is used to finance public improvements that will enhance the environment or attract new investment within a defined area. Current property tax is calculated within the zone and future growth caused by development is known as the tax increment.

A portion of the tax increment and sales tax revenue generated within the zone due to the new development is then reinvested into construction and maintenance inside the zone. This would be the city’s second TIRZ.

What’s next: The council will vote to approve or deny the TIRZ and preliminary project and financing plan at its Oct. 6 meeting.

 
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On The Business Beat
Atlas & Orion Creative Exchange adds retail space, expanded workshop space in Colleyville

Atlas & Orion Creative Exchange has expanded into a larger area to accommodate retail space and more room for workshops.

What they offer: The business offers handmade artisan goods sourced from around the world, owner Amanda Novak said. Goods include home decor, jewelry, pottery, leatherwork, textiles and more.

Quote of note: “Every piece is selected with intention, celebrating craftsmanship, culture and the stories behind the makers,” Novak said in an email.

  • 4121 Colleyville Blvd., Ste. 2, Colleyville

 
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On The Transportation Beat
FM 1385 widening, SH 5 utility relocations: See 5 DFW transportation updates

Check out updates on five upcoming and ongoing transportation projects around Dallas-Fort Worth.

Upcoming projects

  1. Legacy Drive, Stonebrook Parkway widening

Project: Legacy Drive will be widened from Lebanon Road to Stonebrook Parkway. Stonebrook will be widened from Legacy to 4th Army Drive. The roadways will be widened and reconstructed.

Update: The project is in the design phase and expected to start construction later this year.

  • Timeline: fall 2026-mid 2028

  • Cost: $20 million

  • Funding source: city of Frisco

  1. FM 1385 widening

Project: FM 1385 from US 380 to Union Park Boulevard in Prosper will be widened to four lanes with curbs and gutters.

Update: The Texas Transportation Commission approved $38.2 million to widen the roadway as part of the Texas Department of Transportation’s 2027 Unified Transportation Program in August, a TxDOT representative said. The Unified Transportation Program is a plan, not an official allocation of funds, so it is subject to change.

  • Timeline: TBD

  • Cost: $38.2 million (construction)

  • Funding source: TxDOT

 
Around Town
Trinity Metro TEXRail serves 1M annual riders for first time

For the first time in service history, Trinity Metro’s TEXRail reached 1 million annual customers, according to a news release.

Team members with the commuter rail line celebrated the record breaking ride earlier this week on the train with the millionth rider.

Marking a milestone: TexRail, which spans the 27 miles between downtown Fort Worth and Dallas Fort Worth International Airport’s Terminal B, welcomed its first riders in January 2019. Since then, 4.8 million travelers, tourists and employees have ridden the train, according to the news release.

Looking ahead: On Oct. 29, Trinity Metro will break ground on its expanded route and new station in the Fort Worth Medical District, according to the news release.

 

Your local team

Connor Pittman
Editor

Lexi Canivel
General Manager

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