The Villages at Gateway project, located near North Gateway Boulevard and U.S. Highway 80, has been approved by the City of Forney with economic incentive agreements from StreetLevel Investments. This development will serve as a regional hub for retail, services, and dining options. Major retailers such as Target, HEB, and Home Depot will be featured in this development along with convenience stores and various restaurants.
To support the development costs of this project, a Municipal Management District will be established to generate additional tax revenue. However,this district will not impose any extra taxes on Forney residents as it is solely funded by the increased tax revenue generated from the new businesses.
Street Level Investments stands to receive over $34 million in incentives for their involvement in this project.The Forney Economic Development Corp.has agreed to provide up to $7.5 million through grants whilethe City of Forney has committed up to $26.75 million over 30 years through rebates on sales tax revenue.
