Colleyville reports rising retail occupancy, new businesses and $6M annual economic impact

Chelsea Rose, Colleyville’s economic development staff member, updated the City Council on local market conditions, leasing activity, business outreach programs and city‑owned development parcels.

“Our economic development efforts are focused on attracting, growing, and retaining a quality mix of commercial businesses that provide the goods and services desired by citizens and visitors,” Rose said, summarizing the department’s strategy.

Rose told council the city’s population is just over 26,000 with about 9,000 households, a median household income just over $200,000, and a median age of about 46.3. She said about 70.3% of residents hold a bachelor’s degree or higher. Market metrics cited by staff included a retail/office occupancy rate that Rose said has risen to 92.9% and a market median asking rent of about $26.21 per square foot.

Staff highlighted several recent and pending business openings and prospects. Announced or reported moves and prospects include Grama Root bakery (headquartered in Colleyville), Lux/Co (opened on the city’s south side using a sign grant), PEMF Recovery (Town Center; Chamber ribbon cutting scheduled for Aug. 1), Limelight Training Centers (relocated), Pedioplex clinic (therapy and ABA services), Regis coworking space in the Village, Slick City (an indoor slide park proposed for the former Look Theater, currently in demolition), Lazy Cow (California concept under renovation), Prayers and Pilates (Tara Village), Bank of the Ozarks in the old PNC building, Double Take Dance Studio relocating Aug. 16, O’Brien offices replacing a building damaged by fire, Golden Paws proposed mobile veterinarian clinic, Kiddie Academy (south side), and senior living and medical office projects with site plans under review.

On city‑owned property, Rose said the Northern Gateway 37‑acre site has a letter of intent for a luxury resort hotel and flood study work is complete; a 3.81‑acre Northern Gateway parcel has a letter of interest from Pickleball Kingdom and other quick‑service restaurant interest; and a 5.8856‑acre southern gateway parcel was under contract with a developer with interest from a boutique grocery operator and retail/restaurant uses.

Economic development programs noted by staff include the Colleyville Business Center (a partnership with the Chamber of Commerce), business outreach visits, a monthly economic development forum, and resident‑facing initiatives such as a gift‑card program designed to drive local spending. Rose reported the program’s cumulative impact metrics: staff said the city’s 2024 impact figure of $5,716,605 has been raised to “just over $6,000,000.” She said gift card distributions total just over $5,000,000; a restaurant‑only gift card program that began at $65,000 has grown to more than $250,000; the sign grant fund totaled $151,512; and a “safer” grant was $50,000.

Rose also described promotional tools and outreach, including a printed and digital restaurant map, an online business map and a “Polyopoly” promotional game (she said about 260 game cards had been picked up and four gift‑card prizes redeemed in the first two days of the most recent round).

Council members praised the department’s outreach and said staff should continue working targeted recruitment and retention programs; staff noted the CIP includes funds to support more aggressive village development and a rent subsidy program intended to accelerate occupancy of village spaces. No council action was taken; council received the update and asked staff to continue outreach and return with additional lease and project updates when available.