Page 415 - FY 2025 Adopted Operating Budget and Business Plan

Return to Table of Contents

Invest in Our Economy

Goal 1: Enhance Economic Impact Through Development and Redevelopment Efforts,
Partnerships, and Investment Opportunities
Objective 1: Foster Development and Redevelopment in Targeted Areas
Project Performance Measure(s) Department(s)
IOE Redevelopment of Lincoln Square Office of Strategic Initiatives
1.1.3
Summary:
Estimated Actual
Milestone
In October 2022, Trademark Property Company closed on Completion Completion
the Lincoln Square shopping center at Collins and I-30. Obtain zoning approval Dec. 2023 March 2024
The center has been on the decline for several years and Develop an incentive June 2024
has many tenant vacancies. Trademark plans to agreement
redevelop the entire site with a mix of uses including Begin demolition January 2025
updated retail, restaurants, residential, office, and
entertainment. The development will also include
parking garages and public open space. Milestones for the
project in FY 2024 include approval of zoning,
development of an incentive agreement, and demolition
of the first portion of the center.

Update:
th
In the 4 Quarter of FY 2024, the City and Trademark
continued to work on developing an incentive agreement
in a challenging market. A final agreement is expected to
be available for Council consideration by December.

42