Hillwood Properties has unveiled plans for a major mixed-use project called Circle T that could include a corporate headquarters, a hotel, a movie theater and hundreds of apartments at the junction of Texas 114 and Texas 170.
The corporate office alone could be as big as 1.6 million square feet, rivaling Southlake Town Square a few miles away. No tenant has been announced for the space, but it could have as many as 5,000 employees at full build-out, according to plans presented at a Westlake Planning and Zoning Commission workshop last week.
The Circle T concept plan also includes 750 residential units, a midrise office tower totaling 800,000 square feet and a mixed-use retail/office area with 350,000 square feet, including a specialty grocery store. The plan also calls for a 200-room hotel and several parking garages.
The 128-acre development will have access to Turner Lake with sidewalks, nature trails and landscaping.
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The proposal will require zoning changes and other approvals from the Planning and Zoning Commission. It’s on the agenda for Dec. 1.
No one from Hillwood could be reached to comment Monday night.
Hillwood Properties partnered with Howard Hughes Corp. for the project, which is to be built in five phases.
The design draws inspiration from other upscale, walkable urban environments, including Sundance Square in downtown Fort Worth.
Ross Perot Jr. started developing the Interstate 35W corridor in the 1980s with the opening of Fort Worth Alliance Airport in 1989. Today, Perot is the chairman of Hillwood, which controls 18,000 acres in AllianceTexas, including Texas Motor Speedway, Alliance Town Center and several warehouses.
Hillwood donated land for Texas 170 to the Texas Department of Transportation, which has so far built frontage roads. The main lanes could have tolls but regional transportation planners are taking another look at that as new funding becomes available.
Facebook is building a data center on the north side of Texas 170.
The population in the region has boomed to an estimated 250,000 people.