Courtesy of SHOP Development

 

Lakeridge Village’s makeover will be unveiled early this month, if all goes according to plan.

SHOP Development is overseeing the $26-million renovation, and the City of Dallas offered about $4 million in economic incentives through the Skillman Corridor TIF District. Here’s what you need to know about the 90,476-square-foot development’s overhaul.

THE BASICS

The shopping center was constructed in the late 1960s. Its previous owners were based in San Jose, California, and the shopping center has been half-occupied for several years. SHOP Development purchased the center in 2017. At a Lake Highlands Chamber of Commerce Forum, SHOP vice president Buck Wheeler said the company’s goal is to create a “welcoming, walkable environment that isn’t a one-stop shop.”

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 Renovations include:

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  • New canopies
  • Repainting the brick buildings
  • Widened sidewalks
  • Monument signage
  • Pocket park
  • Trees and landscaping similar to Highland Park Village
  • Asphalt parking lot with decomposed granite stalls

WHAT'S OPENING

Lakeridge Village’s focus is local businesses rather than national tenants, which separates it from the Lake Highlands Town Center. “Everybody knows everybody in Lake Highlands, and everybody knows everybody’s dog in Lake Highlands,” Wheeler says. “… That helped shape our prospective tenant mix.”

These businesses have signed leases for the center, as of the Advocate’s press time:

  • The Store in Lake Highlands
  • Phoenix Salon Suites
  • Vector Brewing
  • Associates Realty
  • YAM
  • Taco Joint
  • RM 12:20 Bistro
  • Lake Highlands Nail Spa
  • Sharky’s Cuts for Kids

WHO STAYED, WHO LEFT

Seven existing businesses will remain open at the shopping center, including Wildcat Automotive and La Michoacana. Several others shuttered or relocated because they couldn’t afford the rent, which tripled, according to several former tenants.

“It’s not quite fair to say that rents are tripling when they are just being brought up to market rates,” Wheeler told the Advocate via email. “We bought the center because there were tenants paying $2 per square foot to $10 per square foot and providing no service to the surrounding community. In order to support the millions and millions of dollars we and the city are pouring into the property to transition it, the project must get market rent rates.”

These shops shuttered:

  • Frontrunner Comic and Games
  • Erika’s Salon
  • Urban Thrift
  • Lake Highlands Creamery
  • Showtime Dog Grooming
  • Senri Par Asian Grocery
  • Offshore’s Nextdoor

These businesses relocated or will do so soon:

  • My Office (now located at 10228 E. Northwest Highway)
  • Lots of Luv Childcare (now located at 10130 Royal Lane)
  • Big Coin Laundry
  • Atomic Pie

These remain at the center:

  • Crossfit Lake Highlands
  • La Michoacana
  • Wildcat Automotive
  • Clean Care Cleaners
  • Subway
  • QT Nails
  • Valentino’s

THE FINAL RESULT

If Mother Nature doesn’t interfere, the projected date for substantial completion is April 5. The park’s construction is expected to be complete by March 22, and the parking lot should be ready to go by April 2.

This post was updated Wednesday, March 6, with comments from SHOP Development.