The Heath City Council approved an Economic Development Assistance Agreement at its December 13 meeting for Heath Hub, a new dining and entertainment venue that will be located on 2.5 acres of the retail-zoned site at the northwest corner of FM 740 and FM 1140 behind the CVS.
The Council’s action followed approval of the agreement by the Heath Economic Development Corporation (HEDC) and Heath Municipal Benefits Corporation (HMBC) Board on December 7.
“We are very excited to welcome Heath Hub to our community,” said Tom Johnson, president of the Heath EDC/MBC. “This is a unique and distinctive project that fits our vision for high quality commercial development. The owners are Heath residents and restaurateurs who have a proven record in the industry of providing customers with an exceptional experience. We’re looking forward to an equally exceptional partnership.”
Heath Hub owners are Gus Antos, Elias Pope and Neville Govender, who also own and operate HG Sply Co. in Dallas and Fort Worth, as well as Standard Service, which recently opened in Rockwall. Their concept for Heath Hub was inspired by the popular Hub, located on 30A near Seaside, Florida.
“Our plans are to develop a unique restaurant venue in Heath,” said Antos. “As a Heath resident since 1989, I am especially excited for the opportunity to build this in a city that has meant so much to me.”
Heath Hub will be centered upon a full-service signature restaurant concept that is unlike anything currently in Heath. There will be an outdoor gathering space of approximately 5,000 square feet to be used for live music, covered dining and special events. Features will include fire pits, outdoor games, and other family/community activity areas.
“Year-round comfort is a huge part of creating a great experience in Texas, and there will be outdoor environmental conditioning such as heaters, misters and shade structures,” said Antos. “We’re also installing state-of-the art, neighborhood sensitive audio, video and lighting equipment, and available parking will exceed the City’s zoning standards.”
The projected total development costs, excluding the land, are $5,050,000. Based upon similarly-sized projects, Heath Hub’s owners project that up to 120 jobs will be created, with a payroll of approximately $200,000 per month.
The HEDC/HMBC will contribute $500,000 towards infrastructure and hard construction costs upon staged milestones in the development process. Heath Hub owners will reimburse the HEDC/HMBC through a monthly payment of 1.5% of the Net Sales from the businesses operating at the premises until a total amount of $250,000 is reached. This amount will be in addition to the property tax and sales tax revenue that will be received by the City, the EDC and the MBC from the project. This amount is projected to reach $424,404 by Year 5 of operations.
“I am very proud of our EDC and MBC board members and the City staff for their hard work on this project,” said Mayor Brian Berry. “A great deal of time and consideration was invested in crafting an agreement that made good sense for our City and the residents and guests who will enjoy an amenity of this caliber. It truly is a catalyst project that sets the benchmark for our expectations of quality.”
Projected Project Timeline:
- Property Purchase Closing: December 30, 2016
- Infrastructure Ground Breaking: By December 30, 2017
- Restaurant/Hub Ground Breaking: 4 months after Infrastructure Ground Breaking
- Pre-Opening Job Training: 10 Months after Restaurant/Hub Ground Breaking
- Grand Opening: 12 Months after Restaurant/Hub Ground Breaking
Concept Plan: Click for Larger View in New Window