Snider Plaza Improvement Plan
University Park, Texas
Snider Plaza has been the central business district for the University Park community for nearly 100 years. It has grown with the City and provided shopping and dining for the broader community along the way. Several of its establishments are staples of the neighborhood, invoking long-term memories for University Park residents. Despite being adjacent to SMU and in the midst of a robust marketplace, the Snider Plaza commercial properties have not had the level of market success that similar districts have enjoyed. Further, the development was planned at a time when parking was not supplied to the levels that meet today’s demand and, as a result, parking is limited.
Due to this set of issues, Catalyst was engaged by the City to prepare an improvement plan for the Snider Plaza district that included a study on how parking may be added at various cost alternatives, conceptualization of new programming and landscape improvements that would better amenitize the shopping and dining experience, and recommendations on how the commercial area may be enhanced from an operational perspective. Additionally, Catalyst prepared a tax increment and sales tax forecast to be used in the City’s analysis of a public improvement district.
Client: City of University Park
Status: Plan Accepted
Services: Master Planning, TIF and Financial Modeling