On Feb. 13, Whole Foods Market announced plans to open a store in the former Albertsons location in the Village Park shopping center—by early to mid-2014. The city has worked diligently for more than two years to bring this much sought after retailer to Colleyville.
On Tuesday, Feb. 19, the Colleyville City Council voted to approve the development deal with the real estate group for Village Park, which paved the way for Whole Foods Market to choose Colleyville. The city’s arrangement with this respected real estate group will allow redevelopment of the center and bring its ownership back under a single entity. Commercial brokers have already expressed interest in the shopping center and a location near Whole Foods Market.
From a business perspective, with its location in the middle of Colleyville’s main commercial sector, redevelopment of Village Park shopping center is critical. The value of redevelopment cannot be underestimated. It returns properties to an economic vibrancy that adds to the community. Many current redevelopment projects were beneficiaries of the city’s matching grant and forgivable loan programs. And citizens benefit from the expansion of Colleyville’s shopping and dining options, as well as the economic impact these businesses bring.