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Hicks puts Arlington's Glorypark development on ice

Hicks Holdings announced Wed that the Glorypark Town Center project has been put on hold because of "extreme conditions" that limited available financing for the project.

According to a press release, Hicks Holdings also said that development partner Steiner + Associates has not been able to sign a firm commitment from an anchor department store for the project.

"We have put an enormous amount of time and money into Glorypark," said Texas Rangers owner Tom Hicks, who was leading development of the project. "In the end, the dream can't become reality without the right financial package."

Hicks said that this was the same situation he found himself in with Victory Park after 9-11. Victory Park, a retail and hotel development near American Airlines Center in Dallas, was delayed for several years.