Haltom City has long been little more than a blip on the radar to the people passing by on Northeast Loop 820.
That will soon be changing, city leaders note with excitement.
It’ll be easy to spot some of the changes from the interstate. Others will require venturing off the road and taking a trip through town.
And anyone is welcome to take a closer look as city officials are convinced they will like what they see.
The city, in partnership with Mercantile Partners LP, KBC Advisors, Velocis, and Haltom City Forest Properties, LLC, have been working over the past year to bring a 50-acre mixed use development to include an estimated 16-acre shopping center. Construction is underway on this project, which will lead to even more exciting developments, City Manager Rex Phelps said.
“This all benefits the people that live here, work here and visit here,” Phelps said. “All this new growth has made it possible to secure funding for much needed facilities.”
Phelps said these include a new city hall (almost complete), a new law enforcement center (almost complete), a new fire substation (complete), a new senior center (complete), a new signature North Park (under construction) and millions of dollars on new roads.
As for the retail center, it will be anchored by H Mart, the largest Asian supermarket chain in the United States. In addition, there will be approximately 50 to 60 outlets comprised of restaurants and stores and distribution and logistics centers.
“The H Mart is one of the fastest growing large grocers in the United States and Canada,” Phelps said. “H Mart is a regional draw that will bring people from miles around in all directions.
“This is more than a neighborhood store impact. Other cities may have a traditional neighborhood grocery store, but they do not have an H Mart Shopping Center. It will be a positive impact to our neighboring cities as well.”
H Mart is also known for its innovative new food halls, which are an extension of over 30 years of providing eateries in its stores. H Mart is recognized by the National Retailer’s Federation as one of the fastest growing retailers. Supermarket News has listed it as one of the top 50 independent chains in the U.S. and Canada, providing essential needs and upscale products.
H Mart has stores in 14 states. The Texas stores include Carrolton, Plano, Dallas, Austin, Katy, and Houston.
The large development will be constructed ar the southeast corner of Northeast Loop 820 and Beach Street. Distribution and logistics buildings will be to the east and south of the shopping center.
The development will add approximately 653,000 square feet of job-creating distribution and logistics centers. Through this, city leaders anticipate Haltom City will continue to attract company headquarters for an array of industries that will create new jobs through businesses focused on supply chain management, inventory analytics, and logistics.
City officials estimate an additional $1 billion of new growth will be realized once the current development projects are completed over the next several years. They note this new growth will produce approximately 5,000 new jobs and bring in 5,000 new residents.
“Our Haltom residents, city council, and staff are thrilled, thankful, and honored to welcome this large development to our deserving community,” Haltom City Mayor Dr. An Truong said. “We are particularly excited and humbled that H Mart has chosen to locate their seventh Texas store in our city. H Mart will improve and expand our shopping experience.
“This entire development will create a significant number of jobs and tax revenue for our community. I will see you all at the grand opening!”
Other projects are going on in Haltom City as well. A Holiday Inn Express is open at Northeast Loop 820 and Old Denton Road, and plans have been approved to bring three Marriott Hotels to the northeast corner of Northeast Loop 820 and North Beach Street, along with some adjacent retail/restaurant outlets.
Officials hope some of this new development will start construction before the year’s end.
Also, the new Heritage Village single-family subdivision across the street from the public library is developing rapidly. Soon, these 412 new homes will be complete.
Recently, ground broke on 1,000 apartment units at Haltom Road just north of Northeast Loop 820.
“These two residential developments alone will bring the density needed to attract even more desired retail to the Loop 820 corridor within our city,” Phelps said.
On top of that, work is expected to begin on Pickleball Kingdom by August 2025 at 5100 Haltom Road.
Phelps said all of this is being done while significantly lowering the tax rate.
“We were able to adopt the no new revenue rate for this fiscal year,” he said.
Phelps said the 50-acre development will provide an estimated $100 million in new capital improvements and approximately $80 to $90 million in gross annual sales.
“This broadening of the tax base will serve as an economic engine for the entire city of Haltom City and provide amenities and tax revenue that will greatly benefit the Haltom City residents,” he said. “We are now in the top 100 cities for producing sales tax revenue out of all 1,221 Texas cities. The over 5,000 estimated jobs that were created from attracting new industries to fill our recently added 2 million square feet of added distribution and logistics centers has brought us an influx of new daytime money. And, our 3,500-plus residential units have and will continue to bring in new residents which has and will bring an increase of an influx of new nighttime money.
“The H Mart Shopping Center and the addition of the new 50-acre mixed-use development will only solidify the economic turnaround success story of Haltom City.”
This story was originally published November 13, 2024, 11:26 AM.