A retail crossroads continues to expand in Texas
New shopping center construction may be in a nationwide lull, but not in Tarrant County, Texas, where a developer is poised to break ground on a 90-acre parcel flanked by two other sizeable centers.
A partnership controlled by the De La Vega Group will begin building a mixed-use project called The Citadel across Interstate 35 from Alliance Town Center and adjoining the newly opened Presidio Town Center north of Fort Worth. Upon its completion, retail space will top 2 million sq. ft. in the submarket.
Called the Alliance Corridor, the area has been one of the fastest-growing in the nation since Ross Perot and Hillwood built a cargo-only airport there in 1989. It boasts a population in excess of 250,000, according to the Fort Worth Star-Telegram, a number about to be boosted by the opening of a regional headquarters of the Federal Aviation Administration.
The Citadel will house a hotel and entertainment and restaurant tenants, but no residential buildings, according to Steve Williamson, the managing director of Transwestern who brokered the sale of the parcel by Diversified Real Estate Group.
“Immediately south of this project, the Presidio Town Center with Target and Costco opened earlier this year. But many retailers remain lined up to see if they can get frontage on I-35,” Williamson said.
Across the highway at the Alliance Town Center, Best Buy, Dicks Sporting Goods, Kroger, J.C. Penney, and Cinemark Theater do business.
De La Vega has not yet revealed what retailers it has lined up for The Citadel, which looks toward an early 2018 opening date.
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