Offering Summary

Type: Land & Pre-Development

  • Preferred Return – 12% per year
  • Up to 2,000 Class A units at $5,000 per unit
  • Minimum 20 units ($100,000) per investor
  • 6% preferred return is  paid quarterly and remaining 6% is accrued till the end of the project

Net Cash Flow Distribution

Net Cash flow to be distributed in the following order:

  1. Where Proceeds are from a Company
    • Preferred return on capital invested in that company; then
    • Return of capital invested in that company; then
    • Same as general cash flow (see below)
  2. For Cash Flow Generally
    • Accrued but unpaid Preferred return; then
    • Return of capital contributions, until investors are fully repaid;
    • Remaining Net Cash Flow to the Class B Member.

The West Dallas Urban Village (aka Loretta), is a multiple-asset-class master plan, programmed to accommodate a variety of income levels, daily necessity tenants and competitively priced Class A and Creative office.

For homeowners, this development offers fee simple homes and condominiums priced for a variety of income levels staring in the mid-$200s up to low $500s.

For the renter, the development offers apartment options ranging from affordable housing to upscale lofts.

The site will include approximately 100,000 square feet of build-to suit office space with significant dedicated and shared amenities for both creative and class A tenants.  On the ground levels, the development will target a wide variety of tenants, including a neighborhood store, boutique grocer and a number of small-footprint food and beverage providers.

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Asset ClassLand AreaNSFGSFUnits
Apartments-480,750589,400566
Office-105,000105,000-
Retail-54,00054,000-
For Sale-229,495234,745198
TOTAL575,689869,245983,145764

ENTITLEMENT + PERMIT UPDATES

Updated: 8 February 2021 | 3:00pm CST

Over the past 3 months, West Commerce has continued to progress the project with a focus on the following:

Zoning

  • Last round of revisions to the language to be submitted early February.
  • City Planning Commission set for early March.
  • City Council set for mid-April.
  • Traffic Impact Analysis has been completed and ready for submission in early February.
  • Thoroughfare Plan modification has been verbally approved.

Design

  • Conceptual Plan being revised due to impact of COVID on commercial requirements.
  • Commercial partnership agreements being finalized in order to bring them into our design process.
  • Final Concept to be delivered by end of March.
  • Prepares project to commence schematic design immediately after City Council zoning approval.

Pre-Construction

  • Working with a stable of third-party general contractors, who have provided cost estimates.
  • Internal Pre-construction team initiating RFP process.
  • Third-party general contractor to be contracted within the next 30-45 days.
  • Phasing and constructibility strategy currently being assembled.