Agenda Information Sheet
DEPARTMENT: Economic Development
DCM: Bryan Langley
Date: April 12, 2017
SUBJECT
Title
Consider a recommendation to the Denton City Council regarding a Downtown Reinvestment Grant for 421 E. Oak.
Body
BACKGROUND
The building at 421 E. Oak is near the Euline Brock Transit Center. This building was most recently Fantasia Fans and was originally a grocery warehouse in the early 1900s. The owner, Tim Beaty, wants to restore it by building a dock on the west face of the building, replacing overhead doors and all original openings with windows, cleaning and preserving the original brick fa?ade, and placing awnings in the original locations on the east and south sides.
The interior of the building will preserve all brick walls and openings. New areas will be constructed for offices, a chapel, banquet hall, catering kitchen, restroom facilities, and foyer. The building will be upgraded with a fire suppression system, electrical, plumbing and mechanical systems. The entire building will be retrofitted for structural support of a new roof system including skylights to mimic the originals. A new fire hydrant will be installed on Oak Street. Upgrades to the transformer will be made as part of an agreement with Denton Municipal Electric.
The new tenant, Walters Wedding Estates, will operate an event center that will accommodate approximately 1,200 occupants. It's expected that many of the events will be weekend wedding celebrations, which will require overnight stays for many of the guests. Guests will create additional revenue for local restaurants, hotels, and businesses. The event center will share 269 parking spaces, available at the completion of this project, with Mr. Beaty's current buildings, which are adjacent (Zera Coffee, The Back Porch, Twice as Nice Resale, and two upstairs apartments). This renovation will result in a significant increase in property and sales tax.
RECOMMENDATION
During the Downtown Task Force meeting on M...
Click here for full text