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Economic development report: Oxxo, Living Spaces and Starbucks among prospects; one facade grant approved
Summary
Deputy Director Darren Harris told the council that four major business prospects were advanced in Q1—including an Oxxo headquarters prospect at 5001 LBJ, Living Spaces and a Starbucks at 635 & Midway—and that the department approved a facade incentive application up to $50,000 and completed about 80 retention visits.
Deputy Director Darren Harris presented the economic development department’s Q1 2026 update, highlighting business recruitment, retention activity and incentive approvals.
Harris said four major prospects or wins are in early stages: Michael Walker Construction (approved for a facade improvement application up to $50,000), Living Spaces (furniture retailer at 635 & Midway), a new Starbucks at 635 & Midway, and a potential Oxxo presence with an administrative headquarters at 5001 LBJ and plans to open its first Texas convenience store in the area.
“We also brought in Living Spaces… and we also brought in a new Starbucks,” Harris said, adding that Oxxo is pursuing both a headquarters and retail entry. The department logged roughly 80 retention visits this quarter, attended regional business events including the ICSC conference and DCEO growth summit, and said it will increase promotion of the facade program in English and Spanish.
Harris reported incentives activity for the quarter: four demo‑rebuild approvals, one economic development incentive approval, one facade program approval and one enterprise nomination. He previewed a business‑recruitment pipeline that staff expect to advance over roughly an 18‑month horizon and provided a snapshot of vacancy trends: industrial vacancy rose in several peer cities while Farmers Branch remained near 5% vacancy; multifamily vacancy generally declined.
Councilmembers asked clarifying questions about Oxxo’s store plans and ICSC outreach and encouraged staff to relay small‑business training materials to local entrepreneurs. Councilmembers also praised the low industrial vacancy and noted community outreach events tied to new businesses.
