Sub Markets

Property Sectors

Topics

Texas CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Texas  + Dallas-Fort Worth  + Apartments  | 
Town offers incentives to Arlington Center Square

Arlington Approves Grant for Mixed-Use Project

The Arlington City Council okayed a $3.8 million grant for Arlington Center Square to assemble land for a mixed-use lifestyle center. The Dallas Business Journal reports a hotel is already under construction and the development could also include a food hall, retail, restaurants, multifamily housing and structured parking.

Arlington Center Square is being development by Mahrouq Enterprises International Inc., who owns the land where a $54 million, 145-key upscale hotel on Division Street is being constructed.

Under the new agreement, the developer would have to meet various milestones including delivering a conceptual project brief with a site plan, program, feasibility analysis and conceptual renderings within 18 months of signing the agreement; beginning construction drawings in 36 months, securing project financing in 54 months and starting vertical construction within 60 months. As part of the agreement, the city will form a long-term lease on the property for parking. If the developer proceeds with the project, the leasehold interest in the property can be purchased.

Connect

Inside The Story

Mahrouq

About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

  • ◦Development
New call-to-action