September 20, 2016

First $250M inning of Texas Rangers-anchored development to start soon

ARLINGTON, TX - The Texas Rangers and The Cordish Cos., a Baltimore-based development firm, plans to begin the initial $250 million phase of Texas Live!, a mixed-use development between Texas Rangers' Globe Life Park and the Dallas Cowboys' AT&T Stadium in Arlington.
In all, the $250 million initial phase of Texas Live! is part of a $4 billion public-private partnership vision of Arlington's stadium district, which includes additional phases of the project, a new Rangers Ballpark and the preservation and re-purposing of Globe Life Park.

"It is the Rangers' intent to preserve the beautiful exterior facade of Globe Life Park," said Rangers' co-chairman Ray Davis, in a statement. "We've been working closely with The Cordish Companies to find ways to re-purpose the building. The Centerfield Office Building is at capacity with tenants and we hope those companies will remain.

"Our existing retail store and the Hall of Fame space can both be used as retail spaces to support the development on the south side of Randol Mill Road," he added.

As plans evolve, Davis said he believes the interior of the ballpark could be retrofitted for another purpose, although he said he didn't know immediately what the ballpark could be redeveloped into for future use. The partnership plans to preserve the facade of Globe Life Park and could develop it into an entertainment, retail, office and festival site.

"We don't need to have all these answers today; we can develop the solutions while still maintaining the aesthetic and character of this beautiful building," he said.

Construction on Texas Live! is slated to begin in November. In all, Texas Live! is expected to bring more than 3,000 new jobs and 3 million new visitors to Arlington when it opens in 2018.

The entertainment portion of the project is expected to open in spring 2018 before Rangers' opening day and the hotel and convention facility is expected to open in fall 2018.

The initial phase includes an upscale, full-service 300-room convention center, a 35,000-square-foot meeting and convention facility with the ability to expand to more than half-a-million square feet of space in the future. The flag of the hotel was not disclosed Tuesday.

Other parts of the mixed-use development include:

Rangers Republic: The two-level, 30,000-square-foot dining and entertainment facility will be the ultimate fan clubhouse for Rangers fans throughout the year. The clubhouse will have memorabilia, team history and interactive games for families.

Live! Arena: The multi-level, central gathering place at Texas Live! will have more than 35,000 square feet of dining and entertainment and will be the living room of the entire development. The venue includes an outdoor beer venue with a two-story retractable facade, performance stage for concerts and a 100' LED screen as a centerpiece.
Arlington Backyard: An outdoor event pavilion with a cpacity for 5,000 people that will be covered by a permanent roof and will have the ability to host more than 250 annual events. The yard has the ability to expand to entertain 7,000 fans.

Texas Live! is projected to exceed an annual economic impact of $100 million to the City of Arlington and Tarrant County. This will help solidify Arlington as the country's capital of sports, entertainment and culture, said Blake Cordish, vice president of The Cordish Cos., which is overseeing project development.

"We look forward to breaking ground in November, immediately following what we hope to be a deep, successful postseason run for the Rangers," he added.

Mayor Jeff Williams said the expanded vision of Texas Live! (an expansion that brought the built out costs of the initial phase from $200 million to $250 million) will be a game changer for Arlington and its residents.