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The Colony’s Big Announcement: A Furniture Store

By Jason Allen & Ryan Crowe, CBSDFW.com

THE COLONY (CBSDFW.COM) – We now know it’s not a theme park, but The Colony still has something big planned for a piece of land that was once going to house the world’s tallest building.

On Tuesday, The Colony’s City Council announced a Nebraska Furniture Mart store will be coming to town.

And while a furniture store with the name Nebraska in it may not be as exciting as a roller coaster, the economic impact of it to the city could be as big as the rush from any thrill ride.

Nebraska Furniture Mart boasts stores the size of three Walmart Supercenters.  Berkshire Hathaway, the Warren Buffett-led company that owns the chain, says the proposed location in The Colony could see 8 million people in one year.  They also say the store could provide The Colony and Denton County with more than 1,700 full time jobs.

“Just with Nebraska Furniture Mart alone is a huge benefit.  With the business they come in and generate, that’s just going to be a huge draw,” says The Colony Mayor Joe McCourry.

City Manager Troy Bush told residents Tuesday night The Colony is dedicated to working with them to make sure the development works.

As for the rest of the 400 acres, the city’s plan still calls for three hotels and 10 restaurants.  The plan even calls for a theme park and theme hotel, but The Colony isn’t saying what that may look like.

Nebraska Furniture Mart has three locations in Kansas City, Omaha and Des Moines.

  • Rick Low

    The new development will be funded using private equity and revenues generated by the project itself with no financial risk to the city. The final numbers are not confirmed, but the projected total value is expected to
    fall between $1.3 and $1.8 billion. Property, sales and other tax rates will not increase as a result of this project.

    • Really?

      I don’t know what planet you live on, but property taxes are in direct correlation with property values. The tax RATE may not go up or down, but depending on the value of surrounding properties, the amount PAID in property taxes will most likely be affected.

      • TripleFree

        It’s called Triple Freeport Tax Exemption…read up on it…

  • darrell

    one major problem with this plan. location, location, location. people are not going to beat a path, get toll tags, and fight the traffic to get there. not in the projected numbers. there is no real good high volume access to this area to support the additional 22,000 shoppers per day @ 8 million a year. i think the projections are bloated but still its a difficult area to get in and out of.

  • http://fortworthinsight.com/news/the-colony%e2%80%99s-big-announcement-a-furniture-store/ The Colony’s Big Announcement: A Furniture Store « Fort Worth News Feeds

    […] Go to News Source […]

  • Matt Morrow

    Hawwwwwwwwwwhhh hahh hawhhh, hawwhh. Good Luck.

  • Kevin

    How do you go from estimating 20,000 jobs and a (major?) theme park on the morning news to a furniture store and 1700 jobs on the late news? The article itself is also a bit misleading. It says “Not a theme park” as the link to click on, but later in the article it says “The plan even calls for a theme park and theme hotel……” It’ll probably end up being another waste of space like Great Wolf Lodge.

  • http://frontburner.dmagazine.com/2011/11/09/leading-off-11811-3/ Leading Off (11/9/11) | FrontBurner

    […] a theme park. But it was revealed on Tuesday that a majority of that space would be used for Nebraska Furniture Mart. So instead of sitting in tiny chairs attached to rails that twist and turn, people will be sitting […]

  • Mindy

    I have been to the Nebraska Furniture Mart in Omaha. It is huge! They have good stuff at reasonable prices. I know that if my sister (who lives in Omaha) is looking for electronics, furniture or appliances she starts there and usually buys there. I am looking forward to having one in the area.

  • TNT

    Once being in the fine meats business, I know Nebraska is famous for some of the best beef in the world, but FURNITURE? I thought fine furniture was synonymous with The Carolinas. The real problem here is the location and the fact that a lot of people have no idea where The Colony is. They might as well have set up shop in Krum.

  • R Goldsmith

    If the Nebraska Furniture Mart comes to North Dallas, it is going to be a game changer for local furniture and electronic businesses. Prior to moving to Dallas, my wife and I lived in Omaha for 16 years and we shopped at the Mart because no one else could be competitive on pricing, compete with the massive amount of selections, or offer the service they could provide. When we moved here, we upgrade our master bedroom set and quickly found distinct differences in services. When you purchase at the Mart, you can typically pull up to their massive warehouse and take those items home with you–not waiting for delivery. If something must be delivered, it happens in 2-3 days and NOT WEEKS like at Weir’s. I do not see Conn’s lasting either. The Mart put Circuit City across the street out of business in a matter of months–long before the enire CC went into bankruptcy. As for Weir’s not being open on Sunday’s, I think they will face a difficult decision. Open on Sunday’s to compete, or die on the vine with religious principles. You see, the mart is owned and operated by Jewish people–founded on Rose Blumkin’s philosophy: sell cheap and tell the truth–that means being open on Sunday too. They welcome all religions so long as money is involved.

    The Mart offers something for every budget. Their electronic selections are second to none. I cannot wait for a taste of the North to show how business should be conducted. Come on down NFM!!!

    • You're Almost 100% Correct

      The chain is OPERATED by the family, but OWNED by Berkshire Hathaway.

  • R Goldsmith

    Berkshire does not meddle in the business, I will guarantee you that. Uncle Warren also lives in Omaha and he has dinner with Bobby Batt a few times of the year. Warren is hands-off with this business-the only help they need is the name Bershire behind them when dealing with vendors.

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