Nebraska Furniture Mart Adding 4 Restaurants And 2 Hotels
Nebraska Furniture Mart Adding 4 Restaurants And 2 Hotels
Article Courtesy of Dallas Morning News Staff Writter MARIA HALKIAS
Restaurants and hotels will begin to open next year around the huge Nebraska Furniture Mart, which is anchoring the 433-acre Grandscape development.
Grandscape is a project being built by Warren Buffett’s Berkshire Hathaway that’s estimated to cost a whopping $1.5 billion. The first of two phases, including the 560,000-square-foot furniture and appliance store, will cost more than $400 million and opens next year.
On Tuesday, Nebraska Furniture Mart announced that locally based restaurants Mi Cocina, Cheddars and Hard Eight BBQ have agreed to open next summer and fall. The Hard Eight restaurant will be its largest at 18,000 square feet.
A restaurant from Los Angeles, Rock & Brews, will also be in the first phase. It was co-founded by Gene Simmons and Paul Stanley of Kiss. Rock & Brews serves American comfort food and has a pet-friendly patio.
Nebraska Furniture Mart expects to draw 8 million customers a year, many from hundreds of miles away.
Two hotels will be built by Carrollton-based Atlantic Hotels Ltd. Construction on a Hampton Inn will start by the end of this year and open next year. A Homewood Suites is scheduled to open in 2016.
This will be the fourth Nebraska Furniture Mart store. The others are in Des Moines, Iowa; Kansas City, Kan., and Omaha. But The Colony is the first of its stores where Berkshire Hathaway decided to build its own project around it.
“A lot of development has come around our Kansas City store, and that’s when we saw an opportunity to more closely control our destiny through a deliberate development that we plan,” Grandscape president Jeff Lind said in an interview Tuesday.
The initial selection of hotels and restaurants, Lind said, should appeal to the broad base of customers the furniture store attracts. “We carry starting prices at the lowest end to the high-end brands. Because of that, we’re blessed with a broad demographic of customers.”
“There’s more to come, and it will include quick-serve and higher-end restaurants,” he said.
Nebraska Furniture Mart is scheduled to open in March or April. The store’s 1.3 million square-foot warehouse is finished. It will take five months to fill it with furniture, electronics and appliances. The warehouse will have 500,000 items in it so customers can take their purchases with them.
The retailer boasts that the warehouse can load purchases into vehicles for 138 customers at a time. Until the opening date, about 60 trucks will unload merchandise nightly in order to get the warehouse fully stocked, store manager Ed Lipsett said.
Nebraska Furniture Mart expects to have annual sales of $600 million. The store and warehouse will employ 2,000 people. About 1,200 have been hired.
Located on State Highway 121 between Spring Creek and Plano Parkways, Grandscape is around the corner from high-profile projects in West Plano, including a $350 million campus to be built for Toyota’s North American headquarters. The Toyota project is on 100 acres at the southwest corner of Highway 121 and Legacy Drive.
Grandscape’s first phase, Grandscape West, will be finished by 2016. Grandscape East, to be built on more than 200 acres, will probably begin before 2016, Lind said.
Grandscape East is in the planning stages and will include a spa hotel and residences, plus a boardwalk on an 11-acre man-made lake, Lind said.
Mayor Joe McCourry of The Colony said the city’s tax base will double from Grandscape. Under an agreement with the city, Nebraska Furniture Mart will get some of that tax revenue as part of its incentive.
Since Nebraska Furniture Mart bought the land and started construction, other businesses have sprung up in The Colony, including a third hotel in Cascades at The Colony, a 100-acre development by Dallas-based Jackson Shaw, McCourry said.
Other retail developments have opened along Highway 121, including one with TopGolf and Spec’s. Rooms-to-Go is building its largest local store across from Nebraska Furniture Mart.
Does the mayor worry about traffic? McCourry said road improvements will be made when the first phase is completed next year. Plus, he said, “It’s so big there are lots of entrances to the property.”
Author:Ciearra Harless Phone: 214-536-6362 Dated: May 4th 2015 Views: 1,364 About Ciearra: About Halo
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