The new entertainment retail concept, Music Street — which puts art, entertainment and dining in singular destinations — is expanding from the flagship Music Street Frisco that’s under construction north of Dallas. The $40 million, 6.7-acre Music Street Frisco will include a 1,024-seat indoor concert hall, a 400-seat outdoor performance stage, restaurants and “guest kitchens.” SCT contributing editor Steve Bergsman spoke with Music Street International founder Steve Morriss and Dunham Development president Mike Dunham about their new partnership to expand the concept.
“I can see this as a replacement anchor for an existing shopping center, whether it is an open-air shopping center or mall”
What are the expansion plans? How and where?
Dunham: The first Music Street is being built in the very high-growth, Dallas suburb of Frisco. We are researching other targeted locations, looking at growth areas, studying demographics and evaluating opportunity for this kind of concept. Since Music Street has an outdoor component, we will be looking for major markets across the southern tier of the United States, especially big markets like Phoenix, Houston, Orlando, Atlanta, Charlotte, and some key, up-and-coming or high-tourism markets where there is an opportunity for this type of venue. We want regional locations with high-visibility because we expect Music Street to have a large draw. We want to make it easy to get to so people can go for date night or dining, as well as live and broadcast entertainment.
Are you building standalone projects, or will you look at areas already being developed?
Dunham: We want unique locations, and we sure don’t mind if there is already other destination retail in the area. Music Street could be a component of one of the new mixed-use, lifestyle-type developments that are live/work/play. Music Street is a freestanding unit on about six acres. Being that it is a new concept, we can tailor it specifically to a particular market and opportunity. I can see this as a replacement anchor for an existing shopping center, whether it is an open-air shopping center or mall. It won’t go on the inside; it will definitely be adjacent to existing retail.
How is this concept going to work post-pandemic?
Morriss: Due to the pandemic, we decided to reconceptualize the entry to our buildings. We are installing a $200,000 temperature station, such as the one used in Japan for the transit system, where temperatures are automatically taken. Also, people will have to wash their hands when they enter. We will have other provisions for safety, including metal detectors. It’s reassuring to know that you can go where everyone is temperature clear, with clean hands and no weapons.
How have the banks reacted to the concept?
Morriss: It’s more about us making sure we open at the perfect time and doing the groundwork. We have many political specialists that work with us, visiting the cities to analyze the right location to make sure we get the support of municipalities. It’s about us deciding when is the right time, and we think the banks will follow.
What’s the time frame for the rollout?
Morriss: We are hoping Music Street Frisco will be completed by fall of 2021, but it could be early 2022 depending on the COVID situation. I spent 30 years developing this concept with the last four years drawing plans. There is no rush.
Dunham: I worked with Bass Pro Shops on its expansion, and this is similar. When you find a location for one of these destination retail concepts, because it is so big, you need a lot of lead time. That’s why we are kicking off our expansion search now because by the time I get these locations found and negotiated, it could be a year or more.
How many locations are you aiming for within five years?
Dunham: Growth will ratchet up over time. I expect two to three locations in the first three years, and then you could see four to five locations per year afterward. We expect to develop Music Street across the county.
