Richardson | April 2023

W. BELT LINE RD.

DEVELOPMENT

Belt + Main will be a major residential and commercial center in the heart of historic downtown once completed in 2024. (Renderings courtesy Catalyst Urban Development)

Progress resumes on Belt + Main development in downtown

PREPARING FOR COMPLETION

The Belt + Main development is expected to start opening in late 2023 in the historic downtown area of Richardson after months of construction delays. APRIL 2021: Belt + Main construction begins NOVEMBER 2022: Construction on development stops JANUARY 2023: Construction resumes with new general contractor FALL 2023: First building expected to open SPRING 2024: Entire site expected to be fully open SOURCE: CATALYST URBAN DEVELOPMENT COMMUNITY IMPACT

BY JACKSON KING

Once completed, the development will include 15,000 square feet of restaurant and retail space, 350 mul- tifamily units, and 900 townhouses. Many construction projects have seen delays across the country, according to Leigh Richter, executive vice president of investment services for Bradford Commercial Real Estate Services, which handles commercial real estate deals in the region. “Issues in the supply chain have denitely impacted how we do business,” Richter said. According to Richter, delays have been caused by issues that include an increase in interest rates and the cost of materials, in addition to diculty nding trained and qualied workers. “It has the trickle eect of, if you own a piece of dirt, you don’t really want to break ground right now, ... because it’s not very exciting that it’s

Progress is resuming on the Belt + Main mixed-use development in Richardson after months of delays. Under construction since 2021, the mixed-use development has seen delays since November 2022 due to “problems” with the general contrac- tor and supply chain issues, accord- ing to Paris Rutherford, president of Catalyst Urban Development, the company overseeing the project. “Now that we have momentum moving, we expect eciency and continuous progress going forward,” Rutherford said. Since shifting to new general contractor Andres Construction in December, work began in January on structure framing in parts of the development. Installation of air condi- tioning, electrical work and plumbing is set to start in the next few weeks.

Once opened, Belt + Main will add 350 apartment units in downtown.

going to cost substantially more to build,” Richter said. Rutherford said the project’s rst residential and retail building is set to open this fall. He said one of the site’s ve buildings is expected to be opened every following month, with the entire development space expected to open in spring 2024.

“We have been able to navigate this dicult period, but it’s been a challenge,” he said. Work on Belt + Main, including construction on a park adjacent to the project that’s set to begin in the next two months, is part of a larger eort to revitalize the historic downtown area, according to Rutherford.

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RICHARDSON EDITION • MAY 2023