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Work is underway on a new pedestrian-friendly mixed-use development in downtown Mansfield that will include 80,000 square feet of commercial space along with apartments and townhomes.<\/p>\n
Called Water Mill Square, the development spans a 4-acre block on West Main and South Broad Street. Completion should be in 2027.<\/p>\n
Donny Churchman, founder and CEO of Frisco-based Nack Development, said demolition on existing buildings has begun and that construction on roughly 60,000 square feet of the development will begin in November. The company said that construction on the first phase will cost an estimated $20 million to $25 million.<\/p>\n
\u201cWe\u2019re starting on phase one over the next couple of weeks,\u201d Churchman said. \u201cPhase one consists of roughly 60,000 square feet of commercial space, and that would be inclusive of restaurants, retail, office services, or it could even be a law office or a chiropractor and things like that. We already have a lot of interest in businesses locating there.\u201d<\/p>\n
Interest from prospective businesses is gaining momentum, he said.<\/p>\n
\u201cWe haven\u2019t even taken it to market yet. It\u2019s a hot area,\u201d Churchman said.<\/p>\n
He said the company plans for Water Mill Square to be a walkable destination within the downtown area.<\/p>\n
\u201cI think what makes this project unique is we\u2019ve created a pedestrian walk that is going to go about three blocks,\u201d he said. \u201cThe first phase is just that first block, though, that we\u2019re going to be building now, and there will be businesses that front the plaza.\u201d<\/p>\n
Ultimately, Churchman said, the whole idea behind the development is walkability.<\/p>\n
\u201cIt\u2019s got a very European feel to it where you can have patios fronting the plaza. You can have a pop-up on that plaza, but the whole point is they can walk along there and stop as they choose,\u201d Churchman said.<\/p>\n
What attracted Nack to Mansfield?<\/p>\n
\u201cIt\u2019s growth right now, where it\u2019s headed, I think the progressive mindset of city leadership,\u201d he said. \u201cWe did a study about three summers ago, and we studied 25 cities in the state of Texas that would fit what we\u2019re looking for in redevelopments of downtowns, and Mansfield was in our top five.\u201d<\/p>\n
Churchman said not long after the company completed its survey, the city of Mansfield reached out to Nack.<\/p>\n
\u201cI don\u2019t really believe in coincidences, but it was pretty interesting that happened right after we completed our study \u2014 that one of our top five reached out to us,\u201d he said. \u201cWe want to help revitalize that downtown and piggyback on what\u2019s already there.\u201d<\/p>\n
With phase one underway, Churchman said phase two will consist of first-floor commercial and about 100 units of multifamily above that first floor, as well as a parking garage on the south side of the property.<\/p>\n
He said there will be about 15 brownstones as well that will be for sale.<\/p>\n
\u201cThose will actually be along First Street,\u201d he said. \u201cWe\u2019re starting at Broad and Main and then going south from there into phase two, and then west in phase two as well the first three or four of those brownstones.\u201d<\/p>\n
Nack Development has an economic development agreement with the Mansfield Economic Development Corporation, or EDC, that will provide $7.86 million in grants from 2024 to 2030. Roughly $4.48 million in Tax Increment Reinvestment Zone and bond funding also is being used for the project, the city said.\u00a0<\/p>\n
One of the project\u2019s inspirations is the walkable Dairy Block in downtown Denver, an area of restaurants, bars, a hotel, coworking space and shopping.<\/p>\n
Jason Moore, Mansfield EDC executive director, said during an Oct. 7 board meeting that the 4-acre block currently generates about $11,000 in property and sales tax combined to the city. Moore estimated the development\u2019s first phase will generate about $750,000 in the first year.<\/p>\n
Lance Murray is a freelance contributor covering business for the Arlington Report.<\/p>\n
At the Arlington Report, news decisions are made independently of our board members and financial supporters. Read more about our editorial independence policy here<\/a>.<\/p>\n \n\tRelated\n<\/p>\n Fort Worth Report is certified by the Journalism Trust Initiative<\/a> for adhering to standards for ethical journalism.<\/p>\n Republish This Story<\/p>\n
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