Billion Dollar Decade Halftime Scorecard
The super bowl is over but that doesn’t mean we can’t reflect on the score. In 2007 after about six months on the job at the Chamber, we were in the process of setting goals for the next year. Then CEO Jim Vaughan asked me what I thought we could expect in terms of development activity over the next year in Downtown Waco. Based on my limited experience and knowledge of what was happening at the time I responded that I thought a reasonable stretch goal would be $100 million in new development activity over the next year.
Jim is the person who taught me to think big and work to transform, after I said $100 million he look at me and asked, “Do you think we can do a billion?” Thus the “Billion Dollar Decade” was born. The “Billion Dollar Decade is an organizational goal to realize one billion dollars of new development activity over the next ten years. We started tracking in 2007, so now is a good time to reflect back on what this community has accomplished over the past 5 years.
Since 2007 there has been more than an estimated $530 million in new development activity completed or currently underway with an additional $380+ million currently under development.
By use this breaks down to:
- $120,000,000 in mixed use development activity
- $24,000,000 in new or renovated retail development.
- $71,000,000 in office and hospitality space
- $314,000,000 in other (Football stadium, parks, convention center, public facilities)
- 619 new residential units
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