±4.55 AC Infill Development Opportunity Downtown Arlington
Adjacent to the University of Texas Arlington
Marketing description
Harvest MXD Inc. (HMXD) has been exclusively retained to execute the sale of ±4.55 acres of land located at 201 E Abram Street in Arlington, Texas (the “Property”). The Property is centrally located in the rapidly developing Downtown Arlington which is the Cultural District and Civic Center of the city, a year-round destination for music, art, culture, craft beer, dining & shopping with a remarkable sense of place. While Downtown Arlington is a local business-driven destination with over 1.7 million visitors per year, it continues to attract national retailer interest including CosMc’s, a new spinoff restaurant concept from McDonald’s that opens across the street from the Property April 8th.
Within walking distance of the Property is the largest university in North Texas, The University of Texas at Arlington (“UTA”), which enrolled over 41,000 students in 2022 alone. As one of only four Tier One Universities in Texas, UTA is also the 7th fastest growing doctoral public institutions in the United States. This ranking puts UTA in an elite group of national institutions including Harvard, MIT, and Johns Hopkins. The University continues to grow exponentially, with an economic impact on the North Central Texas Region of over $17 billion per year.
The Property is also just one mile southwest of Texas’ largest Entertainment District which is home to two world-class stadiums, the $1.3 billion AT&T Stadium and the $1.2 billion Globe Life Field, Six Flags over Texas, Hurricane Harbor, and the popular Texas Live!, a nationally recognized attraction that combines entertainment, restaurants, and hotels within an upscale, pedestrian-oriented, mixed-use environment. AT&T Stadium and Globe Life Field are home to the Dallas Cowboys and World Champion Texas Rangers where they host all their home games, as well as countless live concerts, national conventions, festivals, and cultural events.
The Property is zoned Downtown Business (DB) which allows for a mixture of uses including high-density multifamily, student housing, senior living, hotel, office and retail. There is a well-funded Tax Increment Financing District in-place to help offset the cost of infrastructure and public improvements. The Seller has owned the Property for over 26 years, and it is one of the last large contiguous sites remaining in Downtown Arlington suitable for high density mixed-use development. Due to the Property’s size and central location, future development has catalytic potential to transform the future of Downtown Arlington.
OFFERING MEMORANDUM & DUE DILIGENCE LINK: https://platform.reverecre.com/project/ac25f406-0ad5-4f70-bd4d-5a45e7d071c0?
Investment highlights
HIGH-BARRIER-TO-ENTRY URBAN INFILL LOCATION
Downtown Arlington is experiencing unprecedented growth with new construction of retail, housing, and office. Scarcity drives value and demand for new development has necessitated the demolition of existing low-density properties to make way for new high-density developments. Downtown Arlington’s growth is being driven by proximity to major employers including the Entertainment District, University of Texas Arlington, the City of Arlington, and General Motors. Major voids in the market include hotel, boutique office, upscale restaurants, and quality housing, including for-sale.
IN-PLACE HIGH-DENSITY MIXED-USE ZONING
The Property is within the Downtown Business zoning district which allows for a myriad of uses including market rate multifamily, senior living, townhomes, live-work, and student housing with a maximum density of 100 dwelling units per acre with more than one use. Additional uses include office, retail, self-storage, and hotel. The Property is also located within TIRZ District 1 Downtown, which had a fund balance of over $8 million YE 2022.
EXCELLENT WALKABILITY
The City of Arlington continues to invest in its downtown with streetscape improvements that make it walkable throughout. The Property’s centralized location provides a Bike Score of 75 and a Walk Score of 86, making it desirable for people looking for a less auto dependent lifestyle.
ACCESS & REGIONAL CONNECTIVITY
The Property is conveniently located with easy access to Interstate 30 approximately 1.5 miles to the north with over 113,000 VPD and Interstate 20 approximately 4 miles to the south with over 176,000 VPD. The Property is just south of Division Street which connects downtown Arlington to Hwy 360 to the east and Interstate Loop 820 to the west. DFW International Airport is ±10 miles north and Love Field is ±17 miles to the northeast.
LARGE CONTINGUOUS URBAN INFILL TRACT
Like many downtowns, Arlington’s has fractured ownership necessitating assemblage to create large enough tracts to accommodate institutional size development. The Property is ±4.55 acres which would allow 300 to 400 units of high-density housing at 100 dwelling units per acre.
OFFERING MEMORANDUM & DUE DILIGENCE LINK: https://platform.reverecre.com/project/ac25f406-0ad5-4f70-bd4d-5a45e7d071c0?
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