Taylor and Chris, developers behind the Southland Station proposal, returned to the Terrell Downtown Revitalization Board to present updated renderings, a pitch deck and financial projections for renovation of the Southland Building at 504 East Moore.

Taylor described a mixed-use incubator concept that would include vendor booths, flexible mezzanine space, office and event uses and a basement-level area. “This is like an incubator for all of the local vendors that are producing everything from goods to foods,” Taylor said, and the team’s materials included mood boards, floor plans and a projected profit-and-loss to show the building’s commercial potential.

The team said they were exploring multiple financing pathways, including private investors and the city-adopted PACE (Property Assessed Clean Energy) program. When asked whether PACE funds are federal or local, a staff member responded, “They’re state,” clarifying the program’s funding source. The developers said they were in early conversations with potential lenders and PACE agents and had begun circulating the pitch materials to investors.

Design details presented to the board included a new accessible elevator shaft to replace an old freight elevator and phased construction plans. The developers said the current plans are at design-development level and approaching construction-document readiness for mechanical, electrical and plumbing drawings.

Board members and staff discussed whether the board should treat requests tied to ownership incentives as economic development incentives rather than standard facade grants; staff recommended the board could meet in executive session next month to discuss incentive terms if members wanted to pursue that path. Raylan told the board the project is outside the strict scope of the 50% reimbursement facade grant and that the EDC and council-level incentives could be considered.

No formal action was taken at the meeting. The board asked the developers to continue refining financials, coordinate with staff on PACE eligibility and provide updated renderings and a site plan for a future meeting.

Key project elements presented:
- Mixed-use incubator with vendor booths and mezzanine flex space; basement and mezzanine connections via new elevator shaft.
- Design-development floor plans and rendered perspectives.
- Financing outreach to private investors and PACE program agents; projected P&L included in packet.
- Possible need to treat non-grant funding requests as economic development incentives and consider executive session to discuss terms.

Board members praised the vision and asked staff to continue working with the applicants and EDC to explore financing and incentive options. The applicants said investor feedback so far has been “very positive.”