- Craftmasters to purchase 62 acres located in the Hooper Business Park for the campus, corporate headquarters, coffee shop and student experience center.
- Craftmasters is proposing a campus of construction trade skills with an enrollment of a minimum of 5000 students by 2031, phased in six equal portions over a six-year period beginning 2026. Capital investment would be $90 million by the 2026 tax year.
- Corporate headquarter of a minimum of 400 new employees with an average wage of $57,000 by 2031 phased in over a six year period beginning in 2026. The headquarters would add an additional $25 million in capital investment by the 2029 tax year.
- Design and construct a residential community of at least 100 single-family units on a property in the vicinity as a part of the trade school training program. Capital investment would be $25 million by the 2033 tax year, phased in six equal portions over a six-year period beginning 2028.
What is Craftmasters?
The founder of Full Sail University is applying his 40 years of ground-breaking education experience to solve the country's desperate need for skilled talent, rewriting the perception of what it means to be a craftsperson with Craftmasters.
Craftmasters is an innovative approach to education. They partner timeless skills with the latest technology, teaching their students a deep knowledge of their craft with the importance of leading-edge industry innovation. Their students will receive a hands-on education with project-based work in professional environments. Craftmasters is also focused on providing opportunities for every student with morning or afternoon classes, and most programs can be completed in one year. The Burleson location would be the Craftmasters Flagship Campus and the Corporate Headquarters.
Proposed areas of study at Craftmasters include:
- Air: HVAC Installation, HVAC Repair
- Power: Electrical, Solar
- Stone: Block Masonry, Brick Masonry, Concrete
- Water: Plumbing, Irrigation
- Earth: Heavy Equipment Operation, Landscaping, Agriculture
- Metal: Welding, Fabrication
The Burleson Craftmasters campus is projected to have 5,000 graduates annually once fully operating.
Agreement Key Terms
- Craftmasters is purchasing the land for $2.5 million and the city is taking a note for the purchase in the amount of $2.375 million. Once the verification of the $4M in construction expenditures is complete and the EDC has issued the $2.5M incentive that would trigger the 90 days on the balloon payment of $2.375M on the land purchase.
- Within the Real Estate Contract for Phase One and Phase Two includes a right to repurchase the land if Craftmasters does not commence construction as detailed in the Agreement.
- The deed includes a restriction that the land will not be used for a non-profit school.
- Development standards for the Campus Head quarters and Headquarters Expansion are included in the Concept Plan.
- Zoning on the property would be in place prior to the property purchase as they will be applying for zoning prior to the end of the year. The EDC would be a co-applicant on the zoning.
- View Incentive Outline Timeline
Project Next Steps
- Move forward with a 380 Performance Agreement with the terms and conceptual renderings for design standards presented on the June 19, 2023 to the 4A Board and City Council.
- Pre-Development meeting to occur by the end of 2023.
- Development Services is working with the Craftmasters team on a Planned Development zoning that will come forward for City Council approval in 2024.
- Site plan and plat to be submitted in May for approval in 1st quarter of 2024
- Civil and Building plans to be submitted 1st quarter of 2024.
- Construction to begin in the 2nd quarter of 2024.
- Construction to be complete by the end of 2025.
Financial Impact of Craftmasters Development at Hooper Business Park
- Craftmasters adds an additional $114million in taxable value (excluding future residential development)
- Adds an additional $335,000 annually to General Fund
- Adds an additional $6.6 million in direct benefit in 20 years
- After all costs and incentives between Craftmasters and Chisholm Summit the City benefit over 20 years is $72 million dollars
- This Financial Impact Analysis does not include any indirect economic impact that either development will produce.
- View Projected Return on Investment