December 10, 2019
Irving-based Realty Capital Management, LLC, has proposed to develop a 20-acre mixed-use project at the Southwest corner of Corinth Pkwy and I-35E.
Concept plans for the proposed project include a mix of restaurants, a hotel, high-end multi-family residences, and a trail system that ties into the trail network around Corinth. The plan will give area residents the opportunity to live in and visit a walkable community with public amenities and entertainment options that are not available today.
The City of Corinth has been working on a bold masterplan for a pedestrian-friendly, mixed-use development focused around a new transit station. This project will set the standard for future development along the City’s I-35E corridor and will be one of the largest initial contributors to the Tax Increment Reinvestment Zone (TIRZ). “This project is a direct result of the strong and bold vision that Corinth city leadership has for the TIRZ in Corinth,” said Tim Coltart, Managing Director for Realty Capital. “The unique cluster of patio centered restaurants combined with quality mixed-use will grow the tax base, promote further investment in the area, and further establish Corinth as a prestigious location for businesses and residents to grow and thrive together.”
Realty Capital entered into a Chapter 380 Economic Development Incentive Agreement with the City and Corinth Economic Development Corporation earlier this year. “We are confident that our partnership with Realty Capital will yield a mixed-use community that will contribute positively to Corinth’s economic vibrancy and quality of life,” said Bob Hart, City Manager for the City of Corinth.