Richardson will award Shop Development, a subsidiary of Shop Companies focused on site acquisition and development, a building modernization grant to assist with its $1 million renovation of the Promenade North shopping center.

The city is awarding a $150,000 grant at the completion of renovations, which will allow for two new tenants in the shopping center off Coit Road.

The overview

Following renovations of the space, Civil Pour, a coffee shop-bar concept, will occupy 3,000 square feet of space. Hibbett Sports, the other intended tenant, will occupy 6,000 square feet within the shopping center.

“We are excited to see the new look and feel Shop Development plans to bring to this site,” Mayor Bob Dubey said in a news release.

Why it matters

City Manager Don Magner said the addition of Civil Pour and Hibbett Sports should elevate the property and have a positive impact on other tenants farther south along Coit Road.

“This is an ideal example of what we want to do with retail centers we think are underperforming,” Magner said.

Digging deeper

The $150,000 grant will specifically assist Shop Development in creating a new storefront for the building that will house Civil Pour and Hibbett Sports. It will also aid in the updates to building infrastructure, including new sprinklers for fire suppression.

“This collaboration not only enhances our ability to attract premier tenants but also allows us to elevate the entire shopping experience with substantial improvements like enhanced landscaping, modernized parking facilities and eco-friendly lighting,” said Buck Wheeler, executive vice president and partner of Shop Development.

Looking ahead

Magner said the project is expected to take around two years to complete. Once the renovations are finished, Shop Development will receive the grant, he added.

“We are excited to see this project bring new energy and opportunities to Promenade North and Richardson,” Wheeler said.