H Mart Announces Plan for Mixed-Use Development on Royal Lane
H Mart announced its plan for a mixed-use development in the heart of Korea Town in Dallas.
Paul Kwon, Texas regional director for H Mart, held a press conference Friday, August 17th to announce H Mart’s plan for a mixed-use development on Royal Lane.
According to the announcement, the plan calls for a complete reconstruction of the El Royal Shopping Center, located at 2534 Royal Lane, Dallas. Current buildings will be demolished and the new shopping center will be built from ground up.
The announcement comes only a couple of weeks after Zion Market, another major player in the Korean grocery industry, announced that it completed the purchase of former Sears building in the Music City Mall, Lewisville.
El Royal Shopping Center sits on a 9-acre land. H Mart will anchor the development in a 45,675 square feet building, which is about half the size of its Carrollton branch.
The shopping center will include two 9,000 square feet buildings, which will be occupied by a major Korean BBQ restaurant and a Japanese restaurant. Also included in the shopping center will be a two-story mixed-use building for restaurants, office, and retail and a single-story retail building.
6-story 157-unit condo is also included in the plan, adjacent to the H Mart building.
Paul Kwon expects the project to break ground sometime next year and the construction to last about a year, if all things go as planned.
According to Paul Kwon, the new development will be able to house about 100 small businesses of all sorts.
“Royal Lane is the cradle of Korean-American immigration history in Dallas. We can’t deny the fact that the old Korea Town has been alienated because all the new developments have been pushing up north. As a Korean-American corporation that thrives in growing with the community, H Mart felt the need to go back to the roots and preserve old Korea Town.” Kwon said about the reason behind choosing Royal Lane for H Mart’s next major project.
H Mart is also in the process of finalizing its purchase of a building in Arlington and looking into opening another branch in Frisco.
With a series of recent development announcements by Korean-American grocers, Korean-American community of North Texas is poised to go through a major transformation.
Lotte Plaza broke ground on July 24th, for its development near Sam Rayburn Tollway and Hebron Parkway.
News broke out early August about Zion Market’s purchase of former Sears building in the Music City Mall, Lewisville.
Now with H Mart’s plan for mixed-use development on Royal Lane, the Korean grocers’ completion is expected to kick into a high gear in the next couple of years.
Current Korean-American population of North Texas is estimated at 100,000, with many more from around the country and from South Korea expected to join the parade in the next few years.