Murphy, Texas – August 5, 2021. On August 3rd, the Murphy City Council approved final site plans for Murphy Corner, paving the way for the former Walgreen’s site redevelopment at the northwest corner of Murphy Road and FM 544. The Morgan Companies have announced that Panera Bread will be the primary tenant on this key corner.
“The redevelopment of this site will be one of Murphy’s first significant redevelopment projects in the city’s history”, said Mayor Scott Bradley. “Attracting a national brand is an exciting addition to this most visible corner.”
On July 20th, the Murphy City Council also approved an incentive agreement in partnership with the Murphy Municipal Development District to lock in Panera Bread as the primary tenant, and to provide incentives to attract a second quality dining tenant for the site.
The current building on the site, dating to the early 2000’s, will be completely demolished. This will make way for a new 9,000 square foot building able to house up to three tenant spaces.
“The City worked with the Morgan Company for a considerable amount of time to determine the best possible uses for this site”, said Jared Mayfield, Director of Community & Economic Development for Murphy. “A renovation of the existing building is one thing, but to have a complete ground up redevelopment is a major investment to Murphy’s economic base by The Morgan Companies.”
The Morgan Companies are based in Charlotte, NC, and have commercial holdings and developments in progress throughout the United States. “We are committed to bringing the best for Murphy, given the confines for the site”, said Trey Morgan, President & CEO. “We are impressed with Murphy and want this site to be a place people enjoy visiting time and time again.”
Thanks to an opportunity provided by The Morgan Companies, the building will be used by the Murphy Fire and Rescue team for training purposes starting the week of August 9th. Once the training has been completed, The Morgan Group plans to begin demolition of the building and commence construction shortly thereafter. Project completion is expected in summer of 2022.