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Windcrest City Council to OK Grant for Retail Development

Feature Photo: A Dallas developer is planning to bring a Chipotle Mexican Grill restaurant to the Windcrest. The Shell station shown here is closed and the buildings will be razed to prepare for new construction. Image: Google Streets.

Updated: 11-30-2021

Posted: 11-29-2021

by Adolfo Pesquera

Windcrest (Bexar County) — City Council is expected to approve an economic incentive agreement that will assist a Dallas-based developer construct a new commercial building on Walzem Road.

The first of two readings on a resolution for the agreement is scheduled for a vote Dec. 6. The agreement is being brought forward based on negotiated terms that were drafted by the Windcrest Economic Development Corporation and the developer. The Windcrest EDC approved the agreement Nov. 10 and held a public hearing Nov. 22.

The proposal addresses the redevelopment of an abandoned Shell fuel station and Circle K convenience store at the northeast corner of Walzem Road and Fourwinds Drive that has been out of business for about two years. The 0.55-acre site’s address is 4825 Walzem Road.

According to the agreement, the Windcrest EDC will provide a grant of $55,500 in the form of a reimbursement to developer Walzem Partners 3 LLC for actual costs incurred to demolish the existing buildings and for site preparation. Walzen Partners 3 LLC is a special purpose entity created by DuWest Realty of Dallas.

In return, Walzem Partners 3 LLC is to invest a minimum of $1 million, “and anticipates an end-user to invest additional funds in the development of the location within 24 months from approval of this Agreement.”

The new development is to commence within six months. During a Nov. 22 staff presentation to the Windcrest EDC, the panel was informed that City Council is expected to approve the second reading of the resolution by the first week of January. They were told that time is of the essence because the developer has the property under contract with the owner, Circle K, only through early January.

Ideally, Walzem Partners 3 LLC will be able to close on the real estate in January.

Under the terms of the agreement, the developer must keep the Windcrest EDC informed as to which tenants are being considered. The expectation is that Walzem Partners 3 LLC will bring in a nationally recognized retail, food or beverage establishment that will generate sales tax revenue for the city.

The end-user was identified in prior meetings of City Council as a Chipotle Mexican Grill restaurant. The standard footprint of a Chipotle is typically between 2,325 to 2,450 square feet.

The staff presentation emphasized that the new commercial building would have a minimum area of 3,000 square feet and could ultimately have a project value of from $2 million to $3 million.

VBX Project ID: 2021-8230


adolfo@virtualbx.com

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By |2021-11-30T09:00:35-06:00November 29th, 2021|Construction Preview, Feature Story|

About the Author:

Adolfo Pesquera (Reporter/Editor) is a veteran news journalist. He has worked for Hearst Corp., American Lawyer Media, News Corp and Freedom Communications. His work has been published in newspapers and magazines across the USA. He is a journalism graduate of UT-RGV. He writes, edits and creates digital pages for VBX.

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