City Lights Oct. 2017.pub

DeSoto City Lights October, 2017 www.desototexas.gov A Publication of the City of DeSoto Community Relations Department DeSoto Economic Development Corporation Partners with Options Real Estate to “Grow DeSoto” The City Council and Economic Development CorporaƟon recognize the need to grow DeSoto business opportuniƟes for residents with unique retail ideas. When faced with the empty space leŌ when the Westlake Ace Hardware closed, they envisioned creaƟng a space that would assist small business owners with establishing viable businesses, while providing unique retail environment for the community. They reached out to the property owner, Monte Anderson, and asked him to consider alternaƟves for the space. As owner of OpƟons Real Estate, Anderson thrives on shaking up the real estate market with new and innovaƟve ideas. He accepted their challenge and proposed the Grow DeSoto business incubator project as a means to address the needs of new and developing businesses. The Grow DeSoto business incubator is a 26,000 square foot retail building located at 320 E. Belt Line Road that will contain a variety of restaurants, retail spaces and shared workspace. Food trailers will also be staƟoned in the parking lot of the shopping center for patrons to enjoy.

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“The project is intended to allow entry level entrepreneurs a place to start at a very low cost and with low risk,” said Anderson. “We are looking for authenƟc local entrepreneurs who have the dream and a desire to build local wealth. We want to give people an opportunity to build assets and value in order to someday own their own small buildings.” Many small businesses need a lower entry to market. They may not have the assets to get a business loan, the credit to secure a long‐term lease, or the operaƟonal background to run a successful business. The incubator is being

completely renovated and will be divided into spaces ranging from 200 to 800 square feet, thereby allowing:  Smaller businesses to acquire square footage that is right for them  Flexible leases  A high traffic area

 Access to business loans and  Ongoing business training.

The shared workspace concept included in the incubator serves to aƩract business professionals who want to rent desk space for a reasonable price instead of the more costly opƟon of leasing an enƟre office. These individuals typically work from home and desire the perks of an office space without the addiƟonal overhead that comes along with it. The Grow DeSoto business incubator is scheduled to open this fall and currently 50% of the space has been pre‐leased to a variety of small businesses ranging from restaurants to a full ‐service barber shop. (story conƟnued on Page Two)

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