REALTY CAPITAL SETS SIGHT ON HIGH PROFILE CORNER
Corinth, TX, December 10, 2019 - Irving-based Realty Capital Management, LLC, has proposed to develop a 20-acre mixed-use project at the Southwest corner of Corinth Pkwy and I-35E.
Concept plans for the proposed project include a mix of restaurants, a hotel, high-end multi-family residences, and a trail system that ties into the trail network around Corinth. The plan will give area residents the opportunity to live in and visit a walkable community with public amenities and entertainment options that are not available today.
The City of Corinth has been working on a bold masterplan for a pedestrian-friendly, mixed-use development focused around a new transit station. This project will set the standard for future development along the City’s I-35E corridor and will be one of the largest initial contributors to the Tax Increment Reinvestment Zone (TIRZ). “This project is a direct result of the strong and bold vision that Corinth city leadership has for the TIRZ in Corinth,” said Tim Coltart, Managing Director for Realty Capital. “The unique cluster of patio centered restaurants combined with quality mixed-use will grow the tax base, promote further investment in the area, and further establish Corinth as a prestigious location for businesses and residents to grow and thrive together.”
Realty Capital entered into a Chapter 380 Economic Development Incentive Agreement with the City and Corinth Economic Development Corporation earlier this year. “We are confident that our partnership with Realty Capital will yield a mixed-use community that will contribute positively to Corinth’s economic vibrancy and quality of life,” said Bob Hart, City Manager for the City of Corinth.
For more information about the project, please contact:
Austin Gray
Realty Capital
(469) 533-4125
Agray@realtycapital.com
Jason Alexander
City of Corinth
(940) 498-3295
Jason.alexander@cityofcorinth.com
About Realty Capital
Realty Capital is one of the premier real estate development firms in North Texas, specializing in transforming high profile locations into trend-setting projects. The firm has developed 5,000 residential units, 4,000 acres for single-family residential, and more than one million square feet of commercial space. Realty Capital has received numerous awards and acclaim for their developments. Some of the firm’s well-known projects include Switchyard in Carrollton, Texas and Lakeside in Flower Mound, Texas.
For more information, visit www.realtycapital.com
About Corinth
Corinth is a growing community located approximately 30 minutes north of Dallas and Dallas-Fort Worth International Airport. With nearly 22,000 residents, Corinth is highly regarded for its family-friendly culture, high performing schools, recreational opportunities, and safe neighborhoods. The City is focused on economic development and enhancing its quality of life. In support of this focus, the City created a TIRZ primarily flanking I-35E and spanning approximately 995 acres. The City will leverage the increase in tax revenues generated within the TIRZ to finance infrastructure and other eligible improvements.
For more information, visit www.cityofcorinth.com
