Southlake resident and President and CEO of Newstream Companies Tim Nystrom says he was attracted to entrepreneurial opportunities from an early age.

After graduating from Baylor University, he purchased a Smoothie King franchise, which turned into several Smoothie Kings, which lead to a successful real estate company and eventually a commercial development company, focusing on hotel and mixed-use retail development, that’s shaping the Metroplex.

His team has taken on some of the hottest local developments like revisioning downtown Roanoke, building out a lifestyle development in Flower Mound and now creating a new property in Grapevine.

“It’s not just about building something,” Tim says. “It’s about creating something that has a footprint and stamp that leaves a legacy.”

He, alongside his brother Matt Nystrom, also wanted to get involved with the restaurant industry, so they opened Craft & Vine Taproom & Eatery inside one of their developments. And after its success, they went on to open Stacks Biscuit House.

“I knew one day I really wanted to open a few restaurant concepts,” Tim explains. “It’s a passion for me.”

While Tim is balancing a lot of other projects, he still is excited to grow his restaurant portfolio, whether that be opening a second Craft & Vine location or developing a new concept in the future for local diners. And he credits his team for giving him the support to take on more legacy-building opportunities.

“They really embrace their roles and embrace what they are doing,” Tim says. “As long as you have really talented people working for you, it’s easy to compartmentalize.”

When he’s not working, Tim enjoys traveling with his wife Donna and their three children, Andrew, Zac and Madison. The two are also very active in CISD because they know how lucky they are to be in a city with such a thriving school system and community.

“We knew we wanted to get our kids into a good school district and be in a really good community,” Tim says. “We plan on being here for a while.”

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A new mixed-use development is expected to begin construction in Roanoke this fall.

Roanoke Village will span five buildings and be constructed on 6.25 acres at the southeast corner of Parish Lane and US 377. Roanoke City Council approved final plans for the project at its July 9 meeting.

Developer Newstream Commercial Development began foundational work on the property in April. That work will pave the way for Roanoke Village’s first building, a 128-room SpringHill Suites hotel, to begin construction in October or November. The hotel is expected to be completed in January 2021, Newstream Commercial Development CEO Tim Nystrom said.

“With a hotel on that property, corporate and leisure travelers have an option of choosing a hotel attached to a city center,” he added.

The SpringHill Suites will be located close to The Peabody Roanoke, a luxury hotel expected to open by April 1, 2022. However, Newstream does not see The Peabody as a competitor, Nystrom said. Instead, he sees the opportunity for cross-promotion between the hotels. The SpringHill Suites could also accommodate guests who are using The Peabody’s event space but are unable to find a room at the hotel, he added.

In addition to the hotel, Roanoke Village will have a medical building, an office building, and two buildings with retail and restaurant space. According to plans submitted to the city of Roanoke, the project will include 28,470 square feet of retail space, 11,273 square feet of restaurant space and 14,500 square feet of office space.

Newstream is still looking to attract tenants to fill those buildings, such as fresh restaurants and service-related businesses needed to serve the area’s growing residential population, Nystrom said.

The retail buildings are expected to open by next fall. Nystrom said there is not completion date yet for the additional buildings.

While Roanoke Village does not have room for expansion, Newstream would consider other development opportunities in Roanoke.

“We are definitely bullish on Roanoke and that corridor,” Nystrom said. “If there are other opportunities, we will look at other good opportunities.”

Article written by Korri Kazar