Real DealsApril 19, 2013
TCU basketball makeover
The 52-year-old Daniel-Meyer Coliseum at TCU will receive a $45 million renovation once funds for the project are raised, the school announced today.
Fundraising got a boost with a lead commitment of $10 million from Ed and Rae Schollmaier, university officials said.
“Having the opportunity to renovate Daniel-Meyer Coliseum helps TCU achieve its ongoing goal of optimizing its physical campus,” TCU chancellor Victor J. Boschini Jr. said in a news release. “We are very grateful to Ed and Rae Schollmaier for their continued support of TCU.”
The planned facade for the coliseum would architecturally complement Amon G. Carter Stadium and the TCU campus, overall, bringing it to the neo-classical beaux-arts style, according to descriptions provided by the university. The interior would have a lower playing surface to increase courtside seating and provide a more intimate atmosphere. Wider concourses and multiple public entries would ease congestion. Concession stands and restrooms would also be upgraded. A new courtside club lounge would be built on floor level.
The men’s and women’s basketball programs would get new locker rooms and team meeting rooms as well as a larger sports medicine center. There would also be new locker rooms for visiting teams.
Additional features of the proposed coliseum redo are a TCU Athletics Hall of Fame display on the concourse level, offices for Olympic sports and administration and a larger main ticket office to support both the coliseum and Amon G. Carter Stadium.
The facade of Daniel-Meyer Coliseum would complement the adjacent football stadium, which underwent a $164 million rebuild completed before the 2012 season, the school’s first as a member of the Big 12 conference.
HKS Inc. of Dallas is listed as the architect of record for the project.
“Depending on fundraising, my hope is to have construction begin this time next year,” TCU director of intercollegiate athletics Chris Del Conte said.
The Texas Christian University Board of Trustees approved the renovation at its board meeting April 12.
TCU Board of Trustees member Ed Schollmaier is former president and CEO of Alcon Laboratories. He and his wife, Rae, donated $5 million to build the Ed and Rae Schollmaier Basketball Complex at TCU, which opened in 2004.
- Robert Francis
Neighborhood Market opens
Walmart opened a Neighborhood Market last week at the corner of West Berry and Hemphill streets, adding to the newfound vibrancy of the South Fort Worth retail scene.
The 40,600-square-foot store opened at 717 W. Berry St. on April 19 with a full grocery department, including organic and natural foods, a self-serve deli, a bakery, pharmacy and prepared meal options.
The store employs about 85 workers. The store’s manager is Jessica French, who started her Walmart career in 1999 as a cashier at the Bedford Walmart.
“We are excited about the opportunity to help save people money so they can live better,” French said in a prepared statement about the store’s opening.
The store is open from 6 a.m. to midnight seven days a week. It is one of about 230 Walmart Neighborhood Markets, the giant retailer’s smaller grocery concept.
Grapevine finance company scoops up another apartment
Grapevine-based SQN Realty Finance LLC has entered a joint venture with Houston-based Allen Harrison Co. LLC to buy a 156-unit apartment complex, The Blenheim Apartments, in Houston. It’s SQN’s seventh equity venture since its inception in 2011. The company has provided more than $47 million in equity financing so far.
The property is 90 percent occupied and low financing rates and purchase price will allow immediate cash flow for the investors in the third deal between SQN and Allen Harrison, partnership executives said.
“AHC has once again identified an asset that is lagging the current market due to liquidity issues of the previous ownership,” said Elizabeth Roll, an SQN principal. The property is in a strong submarket and has renovations under way that will allow rents to rise to the submarket’s level.
North East Mall announces new and remodeled tenants for this spring
American Eagle, Blackheart, Bioderm Skincare& Laser Center and Fossil have joined the roster or opened – or will soon open – remodeled concept stores at North East Mall in Hurst.
American Eagle has unveiled that casual fashion store’s new concept after a complete renovation in the Dillard’s wing of the mall next to Gymboree. The store carries jeans, tees, shorts, shirts, swimwear and accessories for men and women.
Blackheart, a women’s lingerie store with 2,036 square feet, is now open in the Nordstrom wing next to PacSun.
Bioderm Skincare has about 2,200 square feet and offers a day spa and skin treatments, such as botox, chemical peels, tattoo removal and other services, as well as a full line of skin care products.
Fossil is also open in Center Court. The renovated store offers leather accessories, watches, sunglasses and handbags under the Fossil brand.
Coming to the North East Mall Food Court are Fuji Teriyaki, which serves Japanese cuisine, such as sushi rolls, sushi specialties, goyza, edamame, miso soup, bento boxes and non-alcoholic beverages.
La Bella Cupcakes will return to the mall in 500 square feet next to Sonic.
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