Projects
- Waco Town Square
- Austin Avenue Flats
- Heritage Quarters
- River Square Center
- The Sanctuary
- The Chancel
- White Oak Lake Estates
- Porter Crossing
- Sam Houston Office Building
- Shadow Creek Office Building
- The Trails of Cypress Lake
- Morton Ranch
- Riata West
- Lakecrest Village
- Morton Crossing
- Meadow Crest
- Hampton Pointe
Waco Town Square
The downtown urban area of the City of Waco, Texas, is undergoing a profound transformation which started with the redevelopment of a 120,000 square-foot warehouse called River Square Center. Since then, a coalition of citizens, municipality, Public Improvement District (PID), Downtown Merchant Association (DMA), Tax Increment Reinvestment Zone (TIRZ), private developers and landowners have come together to create Waco Town Square. This redevelopment includes roughly $150 million in "fresh capital" for Heritage Square, the renovation of the Hilton and Marriott Hotels, the conversion of the Behrens and Holiday Hammond Lofts, the new headquarters for the Waco Chamber of Commerce and Wells Fargo Bank, additional residential lofts, student housing, office and retail. The Waco Convention Center is undergoing a $17 million renovation (funded by city bonds), and plans have been proposed for a new riverfront hotel.
The Wallace Bajjali team is proud to be a part of this significant city redevelopment with Waco Town Square. In recognition of the historic opportunity, the Partnership formed a single-purpose entity, SWB Heritage Square Partners, L.P. ("Heritage Square L.P."), to facilitate a ground lease with the City of Waco and the subsequent development of Waco Town Square.
Waco Town Square is situated on approximately 17 acres located in the heart of downtown Waco, Texas. The development surrounds the to-be-renovated Heritage Square and the new Waco Chamber of Commerce facility. The property is bounded by River Square Center on the eastern boundary, a new 374-bed student living facility to the west, the "under-renovation" 70,000 square-foot office building formerly known as the Roosevelt Hotel to the south, and the Waco City Hall, Hilton and Marriott Hotels and Waco Convention Center to the north of the property. The City of Waco has approved and executed an 80-year ground lease with Heritage Square L.P.
Some components of Waco Town Square include:
- Chamber of Commerce
- Student living
- River Square Center
- Wells Fargo Bank
- Residential lofts above mixed-use commercial, retail and office spaces
- Parking and traffic flow, both pedestrian and vehicular
- Community gathering place and green space known as Heritage Square
Heritage Square L.P. will approach the City's TIF, PID and DMA and request that they provide funds for construction of the 121 perimeter parking spaces, 12 foot wide grand sidewalks, landscaping around all blocks, 24-hour enhanced police patrols and maintenance. The Waco Town Square site plan has been approved by the City of Waco and construction is now underway.
Historically, Waco has been a "college town," with development and growth often tied to the flux and flow of college students and university institutions. Waco's location on the Brazos River made the town a key part of the regional agricultural economies. While industry, transportation and technology advances have diversified the local economic base, students and the river are still integral to the identity and life of Waco.