Bedford shopping center getting makeover with city, owner partnership
A shopping area at the corner of Bedford Road and Central Drive in Bedford will be getting a restaurant and other improvements, thanks to an economic development agreement between the city and the property owner.
Aberfeldy Properties Inc. and the city are working to improve Bedford Oaks after the City Council voted unanimously May 12 to approve an economic development agreement in which Bedford would provide some funding for the project through reimbursements to the property owner.
“We are very excited about this,” Mayor Dan Cogan said after the vote. “I’m just pleased that we have another shopping center improved in the city of Bedford.”
Plans call for parking and landscaping improvements.. The Valero gas station will be “decommissioned” to make way for the restaurant with outdoor seating. There is no information on which restaurant will locate in Bedford Oaks.
The gas station’s lease ends in January, and the work to improve the shopping center is scheduled to start in March. 2027.
Some businesses in the center include a florist, nail salon and an animal clinic.
According to city documents, Bedford Oaks has challenges such as an aging facade, limited parking and “general aesthetics,” making it difficult to attract and keep tenants.
The economic development agreement involves Aberfeldy making a capital investment of at least $643,000. Bedford will provide up to $161,000 toward the improvements.
Bedford also had a similar agreement with Dallas-based Centerpoint Commercial Properties, owners of the Stonegate Shopping Center at the corner of Brown Trail and Bedford Road.
Stonegate is the home of Turning Point Beer and ATP Pickleball.