Do We Have a Deal?
The Real Estate Council Community Fund is hosting the first-ever TREC Shark Tank: GrowSouth event, presented by NexBank, to highlight investment and economic development opportunities in Southern Dallas. Modeled after the hit television show, TREC Shark Tank will feature three teams pitching their projects to develop parcels located within the City of Dallas’s GrowSouth footprint before a panel of real estate investors and live audience!
- Step 1: Shark Tank: GrowSouth was announced in May 2017
- Step 2: Prospective developers prepared their project plans in June
- Step 3: Final Project proposals were due in July
- Step 4: Semifinalists were selected in August and paired with TREC advisory teams to refine their pitches
- Step 5: Semifinalists presented their projects to the Selection Committee in September
- Step 6: Finalists were selected and notified in October
- Step 7: On November 2, our finalists will pitch their projects to our Sharks before a live audience
- Site Location: Site is located within the footprint of the GrowSouth Initiative.
- Development Type: Proposal may be new construction or rehabilitation in multifamily, single-family (minimum of 20 units), residential, retail, hospitality, healthcare, office, leisure and industrial.
- Site Control: This is required. At minimum, a contract for site acquisition must be outstanding through the duration of the competition with an option to extend until the closing of any potential investment received.
- Community Support: Demonstrate community support of the proposal.
- Competitive Returns: Provide an assessment of the market-based investment return anticipated for the investor.
- Investment: A specific minimum investment is not defined, but preferred projects will call for a minimum investment of $500,000.
- Team Experience: Though experience is valued, demonstrated expertise is not required. All chosen projects will be paired with a mentor team to enhance the proposal.
THERE WILL BE NO GUARANTEE OF INVESTMENT THROUGH THIS COMPETITION. RATHER, THE COMPETITION IS DESIGNED TO SERVE AS A FORUM TO ENCOURAGE DEVELOPMENT IDEAS, PROVIDE TECHNICAL ASSISTANCE AND PROMOTE ECONOMIC DEVELOPMENT IN THE GROWSOUTH FOOTPRINT. THE INVESTORS SHALL NOT BE BOUND TO ACCEPT ANY PROJECT AND RESERVE THE RIGHT TO REJECT ANY AND ALL PROJECTS WITHOUT STATING A REASON WHATSOEVER.