Developer eyes new project in Midlothian
Broker touts mixed-use project’s tax benefits to city, school district
A Dallas real estate brokerage firm has revealed plans for a major mixed-use development in the works on the northwest side of Midlothian between U.S. Highways 287 and 67.
A founding partner of the firm, who asked not to be identified, said the development will be in discussion with city officials this week. The development will include retail, office, and industrial uses as well as some residential.
“As growth spreads to Midlothian, the developer seems to want to seize the opportunity by creating value and increasing the tax base through this real estate development for new businesses,” the broker said. “The product could generate property tax revenue exceeding $4 million annually to the City of Midlothian and $9 million to the Midlothian Independent School District.”
The landowner has sought previously to rezone the land as residential but without success, the broker said, and in tandem with a developer has “patiently planned for a thoughtful mixed-use project that includes some residential, but primarily Midlothian’s first master-planned business park that will house great local employment opportunities, be a large contributor to city tax revenue, and an overall development the city will be proud of that is not another stand-alone project along Highway 67.”
The project's location between the two major highways could be ideal for users and customers alike because of its ease of accessibility, and would also benefit Midlothian proper by keeping traffic to the northwest of the city center, the broker said.
The project plan shows retail locations with highway frontage along both highways and also fronting Old Fort Worth Road. The office buildings appear to be just behind the retail with retail walkability.
The industrial assets would be on the far north side of the project, with roadways leading to it from the highways that would allow trucks to access either highway while circumventing the office and retail uses as well as Old Fort Worth Road.