Page 143 - Hurst Budget FY21

CITY OF HURST

0233 ECONOMIC
GENERAL FUND DEVELOPMENT DEVELOPMENT

MISSION STATEMENT

The Economic Development Division uses innovative and business friendly strategies to
attract, retain and promote existing and new commercial development within the city in an
effort to ensure Hurst remains a vibrant community.

DIVISION DESCRIPTION

The Economic Development Division is responsible for attracting new businesses to the city,
working with existing retailers and landlords in an effort to retain existing businesses while
representing the city with different community organizations and business support groups to
enhance economic vitality.

PRIOR YEAR RESULTS & ACCOMPLISHMENTS

 127 new businesses occupying 447,578 sq. ft. opened in Hurst over the last 12 months.
 6.25 million of the 6.6 million sq. ft. in total retail inventory is now occupied (94.6%).
 Worked with existing businesses on Federal Stimulus Funds opportunities offered during
COVID-19 and most all have now reopened.
 Specific implementation recommendations of the Hurst Sustainability Plan were
achieved including the opening of Provisions at N. Valentine, the construction
commencement of Provisions at Patriot Place and planning for Gala at Central Park.
 Good activity occurred at five of the seven catalytic areas identified in the Hurst
Sustainability Plan.
 Nine new restaurants spread evenly between north and south Hurst opened.
 Worked with the local general manager and national leasing representative and North
East Mall began the year at 95% occupied with five new store openings.
 Worked closely with Epic Realty and the redevelopment construction of Sprouts
Crossing was completed.
 Worked closely with developer Grey Stogner and the new development, Hurst Crossing,
was completed with the new construction and opening of The Learning Experience.
 Completed the redevelopment of Mid-Cities and Hwy 26 with the new construction of
Take 5 Oil Change and Murphy Express.
 Worked closely with the real estate representative and owner of Pipeline Village and
helped secure three national tenants for the shopping center impacted by the Toys R Us
liquidation.
 Worked with Planning and Development in supporting the successful completion of
JCPenney’s “one of a kind” $17 million remodel in just 10 weeks.
 568 new families moved to Hurst purchasing existing single family residences at an
average sales price of $270,268, a 13% increase over the year before.

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