Hicks Vehemently States Glorypark Plans Not Being Canceled
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Hicks Says Glorypark Plans
Are Not Being Canceled |
Stars and MLB Rangers Owner Tom Hicks, in a Q&A with the FT. WORTH STAR TELEGRAM's Andrea Ahles, said, "In no way are we canceling Glorypark," his planned $510M development in Arlington, Texas. Hicks last week announced that the project was being delayed indefinitely, but Hicks said the "only reason this all got announced was the termination of the city's bond-financing commitment. ... We are pausing. We are re-evaluating, and we are going to reprogram the first stage of what will still be a long-term, 10-year development plan." Hicks said of the redeveloped plans, "We'll build something on the order of [400,000-500,000] square feet." When asked about the "kind of leasing interest" in Glorypark, Hicks said, "Dillard's, which has had a letter of intent for a lease for two years, hasn't executed that lease. Let me be real clear. We have tremendous tenant interest in ... entertainment and restaurants." Hicks also said he will ask Arlington for a "smaller bond package." Hicks: "My guess is we only build two parking garages, not five or six. Whatever we do will have to be flexible enough" (FT. WORTH STAR-TELEGRAM, 5/17).
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