Developers behind the project to erect a mixed-use development in downtown Richardson are finally back on track after months of delays.
Belt & Main is a highly anticipated initiative spearheaded by Catalyst Urban Development to bulk up the retail and restaurant offerings along Main Street for a “proper downtown district,” per its listing on Shop Companies.
Nearly 15,000 square feet of commercial space, 90 townhomes, and 350 multi-family units will be available at Belt & Main.
A flyer for the development noted that the city has lent its support to the project, which aims to overhaul the trade area in Richardson’s Telecom Corridor through various pedestrian-oriented improvements.
These improvements include “new streetscapes, improved landscaping, and an activated park feature,” according to the flyer.
“Without the city’s involvement or support, this wouldn’t be happening,” Paris Rutherford, president of Catalyst Urban Development, said in a statement released when the project began in 2021, according to Community Impact.
“We have old infrastructure that needs to be redone. Without the city’s support, this would not be as an exciting place as it’s going to be,” Rutherford added.
Despite these ambitions, little progress has been made on the mixed-use project.
Rutherford recently blamed these delays on issues with the supply chain and the general contractor, according to Community Impact.
Leigh Richter, executive vice president of investment services for Dallas-based Bradford Commercial Real Estate Services, explained that supply chain issues have caused delays in construction projects across the country, not just in North Texas, according to Community Impact.
Citing the increased cost of building materials as well as the shortage of qualified workers, Richter noted the “trickle effect” seen in the industry.
“[If] you own a piece of dirt, you don’t really want to break ground right now … because it’s not very exciting that it’s going to cost substantially more to build,” Richter said, according to Community Impact.
As a result, demand for commercial lease takeovers is quite high nowadays. For instance, the recent closings of large retailers like Bed Bath & Beyond and Tuesday Morning have left some attractive storefronts up for grabs in Dallas-Fort Worth.
“There’s a tremendous need for second-generation retail space, a box that’s already finished out with good air conditioning and bathrooms that can be backfilled quickly,” explained Jill Tiernan, executive vice president at The Retail Connection, according to The Dallas Morning News.
To resolve some of the issues related to the general contractor, Fort Worth-based Andres Construction came on the Belt & Main project last December.
Some progress has since been made in framing the development. The installation of air conditioning units, plumbing lines, and electrical systems should begin in the coming weeks. An urban park adjacent to Belt & Main will commence construction in the months following.
“Now that we have momentum moving, we expect efficiency and continuous progress going forward,” said Rutherford, according to Community Impact.
Belt & Main will open up in phases, with the first residential and retail building slated to open its doors this fall.
Each month thereafter, Rutherford expects the opening of another building, with the development entirely open by next spring.
Many in Richardson are excited to see new life breathed into the historic downtown area, with Belt & Main described as the “puzzle piece” to create an inviting and dynamic hub for the community by City Manager Don Magner.
“We need that downtown area to be a place where people can live, work in and ultimately play,” Magner said, according to Community Impact.
