HomeMy WebLinkAboutEntrada Plaza Mayor Timeline 2018-2019 Plaza Mayor Timeline — 2018-2019
5/21/2018: Plaza Mayor Site Plan Approved: includes 2 hotels (LQ and Marriott AC) and SUP
authorizing 126 condo units.
6/21/2018: In letter dated 6/21/2018 (Attachment 1), Mehrdad Moayedi states that one of the
two hotels in the Plaza Mayor will be removed with the remaining hotel to be a Curio
Hilton. He also states that the amphitheater will be replaced by an indoor event
center. An updated Entrada development schedule is also submitted by Mr. Moayedi
(Attachment 2).
7/25/2018: The building permit application for the Plaza Mayor Hilton Curio and condominium
building B is received.
8/29/2018: In a letter dated 8/29/2019 (Attachment 3), among other conditions, Centurion
American (CA) is informed by Trent Petty that the change from the amphitheater to an
event center will require an amendment to the approved development plan for
Entrada.
11/26/2018: The SUP authorizing the Plaza Mayor Condos is amended to allow an increase of 24
condos to a maximum of 150 condos which may be included in a maximum of two of
the three plaza buildings.
12/26/2018: The building permit application for Plaza Mayor condominium building A is received.
3/5/2019: CA informs Town staff that they intend to abandon the gas well and move the event
center and Plaza Mayor hotel to the gas well site with the intent to convert all Plaza
Mayor buildings to Condos. The same day, Town staff sends an email describing the
steps needed in order to request these changes, which includes an amendment to the
development plan.
5/21/2019: The Plaza Mayor condominium SUP expires per SUP Ordinance 855 conditions as the
building permit applications have not been issued due to ongoing architectural,
structural and design issues. The permits remain unissued.
8/27/2019: Town staff meets with CA representatives to review an incomplete submission of
applications that include: moving the hotel from the Plaza Mayor to the gas well pad
site; moving the event center to the gas well pad site from the restaurant row area;
adding a "storage" building to the gas well pad site; adding 46 additional condo units
to the Plaza Mayor to include condos in all three buildings; amending the
development plan to account for said changes.
The applications are not accepted due to incomplete information and documentation.
Attachment '1
June 21, 2018
Mayor Laura Wheat
Town of Westlake
RE: Westlake Entrada Progress and Timeline Moving Forward
Mayor Wheat:
I would like to take this opportunity to provide you with an update on our progress in Entrada and share with you our
overall project schedule as we are able to begin going vertical on the key components of this development.
The level of detail and planning that is required to successfully execute the Vision of Entrada that we cast together has
been challenging and time-consuming. Nothing in Entrada is typical or a detail we can 'pull-off-the-shelf.' This attention
to detail started with the underground infrastructure that you cannot see.
We still own the development through a related entity,and we have invested over$35,000,000 in just the infrastructure
and amenities on the 80+ acre development. This is almost double what is typically required in a typical land
development, and is reflected in the details and quality features such as brick pavers on all of the streets. The stone
Vehicular Bridge and soon-to-be-completed covered Pedestrian Bridge crossing the Canal are iconic features that I feel
add a significant level of authenticity to Entrada.
Our vertical construction program for Entrada is fully-funded and escrowed for the project, and we have broken ground
as soon as permits were received for each of the components other than the central Parking Garage. We will move
forward with construction of the garage once the Restaurants are under construction immediately adjacent that will
require the parking to be in-place. We will be bringing our best concepts from the restaurants in the Statler Hotel along
with several more high-end concepts that will be a great addition to the Town of Westlake. The second set of
Restaurant Row buildings will be submitted for permit approval to the Town by July 20th, along with the Chapel and
Reception Hall buildings. These buildings will be constructed and open in less than a year from permit release.
We recently completed our first Non-Residential building and are proud to be bringing Sendera Title to Westlake
Entrada. Our second commercial building is under construction at the Retail Corner and we expect it to be open for
business early next year. We have also been working with Starbucks to receive final corporate approval on their building
over the last 6 months, as we have had to modify the building to meet their new requirements and also redo the Bell
Tower for the StoneCoat Panels. We expect to be under construction on this third building in the Retail Corner within 60
days.
I am aware that we have an approved building permit for the outdoor amphitheater, but as we have discussed,we need
to upgrade that facility to an enclosed Event and Conference Center building that will be constructed in the same
location. This enclosed facility will still seat up to 2500 people for larger events, but can be used for many other uses
year-round and not be reliant upon the weather conditions. This building will be over 30,O00 sqft of conditioned space
1800 Valley View Lane Suite 300
Farmers Branch,TX 75234
Attachment 1
that will also be able to be partitioned into smaller spaces to accommodate multiple, simultaneous events and meetings.
We will also be marketing this space as available Convention Space in conjunction with the Hotel in the Plaza Mayor.
Our landmark feature within Entrada, the Plaza Mayor, received PD Site Plan approval from you and Council less than
one month ago. Upon receiving that approval, we have released the Architects and Civil Engineer to move forward with
full-steam ahead. As we have discussed, we are modifying the plan for Plaza Mayor to go away from the two Mid-Level
Service Hotels and instead bring to Westlake a full-service hotel that matches both the Community and Entrada. We are
working to bring a Curio Hilton to the Plaza Mayor, which is the same flag for the Statler Hotel in Dallas. I expect to be
able to make a public announcement about this selection of Flag for the Plaza Mayor very soon, and am excited about
the opportunity. Aim bridge will be our operations manager, as they have done and continue to da an excellent job with
the Statler. We feel this higher level of service hotel is more fitting to the Community and also provides us with brand
separation from the other hotels that are currently under way or proposed in the trade area.
We will be making our first submittal for the Civil Plans for the Plaza no later than July Gm,with the first submittal far the
Building Construction plans to be no later than July 27w. We will proceed with site work on the Plaza as soon as we
receive Town approval.
Our residential construction of the Villas and Townhomes within Entrada is progressing at a good pace. The detail and
quality required to adhere to the Design Guidelines that we crafted together has pushed our price point to over $400
psf, but this is reflective of the Westlake residential market in general. We feel that these residential opportunities
provide a unique quality-of-life experience and are a compliment to not only Entrada, but all of Westlake as well. Upon
filing of the plat, we will also be able to let Veranda Homes get started with the three homes that she has sold. These
homes will be at an even higher price point than our current Villas and Townhomes,further raising the bar on quality in
Entrada.
l will continue to push my Team as hard as possible to commence vertical construction on each of the projects within
Entrada as permits become available. Although the intense level of detail and focus on quality have appeared to cause
delays to an outside viewer, rest assured that we push every day to execute the vision we cast together for Entrada.
i continue to be proud of Entrada and of our Partnership that has brought the project this far. I am looking forward to
delivering a project of excellence that is unmatched. Upon it's completion, the Town of Westlake and it's surrounding
communities will have one of the finest mixed-use development in North Texas.
Sincerely,
Mehrdad Moayedi
MRW Investors LLC
Manager
1800 Lovers Lane Suite 300
Farmers Branch,TX 75234
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Attachment 3
p&A
Mehrdad Moayedi
Centurion American
1800 Valley View Lane,Suite 300
Farmers Branch TX, 75234
August 29,2018
Dear Mr. Moayedi:
The Town of Westlake has asked Petty&Associates,Inc.to help facilitate your request to amend the PD Site
Plan for the Plaza Mayor portion of Entrada as expressed in Ordinance No.854. We look forward to working
with you,and your team on that process. As you are acutely aware,the Town places incredible importance
on the unique features of Entrada that will distinguish it among all other mixed-use developments in the
country. The Town believes the architectural and design uniqueness of Entrada is the sole characteristic that
will nourish and sustain its success and allow it to weather market changes in the intensely competitive
mixed-use marketplace of north Texas. It is that uniqueness the Town is relying on to attract desirable
tenants and create synergy among uses that will make Entrada the premier people-place of the metroplex.
The Town has retained P&A to facilitate your request in a manner that supports this vision for Entrada and
accelerates the development trajectory on every level. In order to accomplish that, the Town needs your
help and cooperation to supply accurate and thorough information on several fronts.
Zoning Ordinance Amendment
As you know, the multiple regulatory instruments of the Town governing Entrada require the Town to
perform specific due diligence on requests associated with changes in land use and construction timing.
Specifically,Ordinance No.854 related to the Plaza Mayor states:All structures of the Entrada Plaza Mayor
(Hotels, Condominiums, and Garages) must be assembled at the same time. A Certificate of Occupancy will
not be issued for any one building unless all other buildings are able to receive a Certificate of Occupancy in
unison. You have requested that the Town amend this Ordinance to require that only two of the three
structures defining the Plaza Mayor be constructed at this time.
In addition, you have requested that the Amphitheatre use be changed to an Event Center use. The
Amphitheatre use is prescribed in Ordinance No. 720 and as such, must be amended by the City Council to
allow the Event Center use.
In order to accomplish your desire objectives, please submit the following:
Deliverable#1
a. Please submit a formal written request to the Town describing your request to amend Ordinance No.
854 to accommodate your request to eliminate the requirement that the three building be built
simultaneously.
b. Please submit a formal written request to the Town describing your request to amend Ordinance No.
720 to accommodate the request to change the Amphitheatre use to an Event Center use and
describe the Event Center use.
Attachment 3
Financial Status
It is the Town's understanding that you are utilizing EB 5 funds to construct Entrada. You have publicly
indicated that changing the Amphitheatre use to an Event Center use will require additional capital funds
beyond what the EB 5 funds will cover. At this stage of the project and given the multiple delays the project
has encountered,the capital sources and uses of funds for Entrada is of vital concern to the Town. In order
for the Town to consider requests that ultimately impact the overall Entrada proforma and the utilization of
public dollars for this project, the Town would like a better and more detailed understanding of the capital
available to complete this project.
Deliverable#2
a. Please provide a copy of the EB 5 loan documentation relative to Westlake Entrada.
b. Please provide an EB 5 balance sheet validated by the EB 5 Trustee that illustrates the dollars spent
to date on Entrada and the payee(s)for those funds as well as the available funds remaining for the
project and the current budget reflecting the intended expenditure of the remaining balance.
c. Please verify the dollars required to be escrowed under the Reimbursement Agreement for Project
B (Parking Garage) after February 2018, have been deposited in compliance with Reimbursement
Agreement dated January 2018.
Town Development Priorities
Centurion American recently submitted an updated proposed construction schedule for the Entrada project.
The Town Council wants assurance that the developer's schedule of construction and the corresponding
available capital for the iconic architectural features of Entrada is consistent with the Town's priorities. The
list below should not be viewed to the exclusion of other planned uses in Entrada like the hotel, restaurants,
parking garage, etc., rather it is intended to convey the Town's emphasis on the urgent completion of these
significant elements in this priority order.
1. Completed Plaza Mayor
2. Bell Tower
3. Pedestrian Bridge
4. Wedding Chapel
5. Public Parking Garage(Part B Assessments)
Deliverable#3
Please review the recently submitted development schedule and describe how, if the Town chooses to
allow the Plaza Mayor to proceed with only two buildings at this time, the schedule can be accelerated
with particular emphasis on completing the Council's priorities above. Please understand that quality
and compliance with the Entrada vision are implicit in reviewing your amended schedule.
All three of the Deliverables cited above are critical pieces of information the Town has instructed to be
collect prior to the council's formal consideration of your request to amend Ordinance No. 854. The Town's
consideration of your request will be viewed in light of your agreement to provide the Deliverables in the
detail expressed above.The Town appreciates the effort you and your team have made to make Entrada a
special development. However,there is a very clear direction from the Council that any concessions to the
current regulatory Ordinances will depend upon your provision of the information requested and your
continued adherence to the quality standards established for Entrada. It is clearly in everyone's best interest
to expedite this project at every opportunity while the capital markets and tenant attitudes are still conducive
to an aggressive schedule.
We look forward to assisting you and the Town in this important endeavor.
Attachment 3
Sincerely,
3._.7,---"
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Trent Petty
President
Cc:
Mayor and Town Council
Toni Brymer,Town Manager
L.Stanton Lowry,Town Attorney
Kelly Edwards, Town Secretary
Jarrod Greenwood,Assistant to the Town Manager
Ron Ruthven, Director of Planning and Development