Sterling One, Trend HRI and the City of Rockwall will participate in a ground breaking ceremony May 25th 2011. Harbor Heights, the first new development in PD 32 in years, will feature a 7 story luxury office building, a parking garage and 3 pad sites for retail development. The office building is projected to be open in 2012 and the pad sites will be available for construction later this year.
The City of Rockwall, the Rockwall Economic Development Corporation and Sterling One have been working on this project for several months. Rockwall EDC will provide funding for public infrastructure like streets and sewer and the money generated from this development will pay back the debt.The office building is estimated to be valued at 16 million dollars upon completion.
Trend HRI has committed to be the major tenant in the new office building and will take up approximately 50% of the Space. Sterling One, a locally owned development company, will build and lease out the building. Sterling One has built several high end communities such as Kingsbridge and Wyndemere as well as Hospitality Hotels like Staybridge Suites and Candlewood Suites. The 3 pad sites are projected to be taken by restaurants, but none have been leased at this point.
Unlike most of the Metroplex, Rockwall has continued to grow during a depressed economy. Sales Tax revenue is currently 6% above projections. Other businesses continue to locate in Rockwall. The Rockwall Crossing retail development will open JoAnn’s Fabrics and Homegood’s, to name a few, this year. Mi Cocina and Paradise Burger are recent additions to the economy. In And Out Burger is scheduled to begin construction in September and is planning to open in January 2012.
This new development will put Rockwall on the map as the premier development location in the Metroplex and with the George Bush tollway scheduled to open this fall it is very likely that Rockwall will see further development at the Harbor and elsewhere.