The City of Richardson desired to locate a permanent facility for their municipal courts. Citadel Partners needed to locate an existing facility or site for a new building, with approximately 30,000 square feet. The parking requirements were one parking space per 100 square feet. Also, redevelopment opportunities in under-achieving areas needed to be identified in order to promote economic development.
The Citadel Partners team identified a former lion grocery store that had been prone to vandalism and was vacant for two years. The property was purchased and refurbished into a landmark in the community. Compared to building a new facility, savings on the project was nearly $1.2 million. Adjacent properties have experienced increased performance, thereby increasing tax revenue to the City of Richardson.