The MLB Rangers and city of Arlington yesterday announced that Baltimore-based Cordish Cos. will "be the developer" for the $100M mixed-use "Texas Live!" project next to Globe Life Park, according to Robert Cadwallader of the FT. WORTH STAR-TELEGRAM. Construction is "expected to start" next year. Cordish will also "build a 300-bed hotel and 35,000-square-foot Arlington Convention Center Annex," also at a cost of $100M, which will be "scheduled for construction later." Cordish "has led" projects such as Kansas City Live! in the K.C. Power & Light District, the Cardinals' Ballpark Village and Power Plant Live! in Baltimore. The announcements "came on the heels of the City Council’s unanimous vote Tuesday night to approve the city’s" $50M contribution to the project, all of which is "earmarked for Texas Live! and will be matched by the Rangers." Cordish in a statement said, "The Rangers challenged us to create a game-changing project, not only for the local community, not only for the region, but one that would set a new standard in the United States. ... We’re planting our flag, and we’re planting it in a huge way." Rangers Exec VP/Business Operations Rob Matwick said that the team's development is the "first of what city leaders have envisioned since the ballpark opened" in '94 (FT. WORTH STAR-TELEGRAM, 12/17).
LET'S DO IT LIVE: In Dallas, Jeff Mosier notes the project is "much smaller than earlier failed developments planned for the parking lots surrounding the Rangers ballpark," but that does not "mean the long-term hopes are less ambitious." The team and Cordish will "jointly own Texas Live!" though Rangers officials "declined to say how the ownership was split." The entertainment complex in Arlington "is expected to open" in '17, and "construction on the hotel would start" in '18 (DALLAS MORNING NEWS, 12/17). In Ft. Worth, Mac Engel writes despite Arlington’s latest agreement with the Rangers, the club is "more than willing, and wants, to listen to suitors" for a new ballpark. The Rangers "consider this new deal with Arlington separate from the future of Globe Life Park." The club’s lease with Arlington expires in '23. A mixed-use retail area "around the ballpark had been a goal" of former Owner Tom Hicks -- and Cowboys Owner Jerry Jones -- for more than a decade. Within the next 24 months, "expect the Rangers to open their door for sales pitches from civic and business leaders from Arlington and Dallas for a government-subsidized stadium that has a retractable roof." The Rangers "like Arlington, but they want bidders," and Ft. Worth "should get in on these discussions" (FT. WORTH STAR-TELEGRAM, 12/17).
