Location: DFW airport
Duration: 2 hours
Main Topic: Mix-use center project and the 40 years ground lease term
Passport plaza is a proposed mixed-use development, able to accommodate retail centers, shops and restaurants on approximately 125 acres land. In addition to the retail component of this development, plans call for industrial/warehouse opportunities and garden office development in this area. The development incorporates property in the cities of Irving and Euless and is situated at the corner of Valley View lane, providing good access to highway 183 and visibility to highway 161. Three development companies attended the meet, they discussed about the general site planning, control and freedom between different parties. Developers are more interested in developing it more that just building it.
Belt Line Station is located at the Southeast corner of the Belt line road and valley View lane, the development will incorporate transit oriented development (TOD) with retail and office uses within walking distance from the future DART light rail line. The development provides DFW Airport the opportunity to incorporate the principles of an "Airport City" by optimizing development around rail service that will eventually continue inside the airport terminal area. The site has excellent highway access. and visibility from President George Bush Turnpike on the east, and good regional roadway support. The proposed sites are located in the city of Irving.
- Selecting teams to build the station and gateway
- How will the size, shape, station and parking will change the value
- Political and technical issues that would be involved in the development.
- The office type of the property
3 Issues for the case Study:
- What demand drives the market? specifically to the airport
- Is it necessary for the ground lease term longer than 40 years?
- Compare of final performance, on-airport VS off-airport, same/similar project. (Consider ground lease and percentage of rent)
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