A Tanger Outlet mall appears headed to the Champions Circle development near the Texas Motor Speedway in far north Fort Worth.
The Fort Worth City Council on Tuesday is scheduled to hear a proposal for economic incentives for development of an outlet mall at the southwest corner of Texas 114 and Interstate 35W, where Champions Circle is located.
That is also where Buc-ee’s, a famous Texas operator of huge convenience stores known for their clean potties and wide selection of snacks and unique products, is considering a store.
The land’s owner, Roanoke 35/114 Partners LP, is an entity of Fine Line Diversified Development Co., run by Fort Worth financier Ed Bass, Martin Bowen and Bill Boecker, Fine Line’s president and chief executive.
Boecker declined comment on the project, saying they were not ready to make a formal announcement.
“What I can say, however, is that we are very excited about the strong partners we have been able to assemble and the opportunities involved in this large-scale, mixed-use development,” Boecker said in an email. “We have been and are currently working with one of, if not the most, highly regarded outlet shopping center developers in the country to be a major part of Champions Circle, along with several other noted anchors.”
Fine Line has owned the 279-acre property since 2007 and has been attempting to develop the property with 3 million square feet of shops and restaurants, multifamily units and office space. A preliminary site plan for the development has 113 acres set aside for big-box retail development.
Quentin Pell, a Tanger Outlets spokesman, did not return a phone message seeking comment on the project. Tanger Outlets are typically about 350,000 square feet featuring about 90 stores, the company says.
The publicly traded Tanger Outlets, founded in 1981, operates or has interests in 45 outlet centers in 24 states and Canada, totaling 14.1 million square feet. In Texas, those centers are in San Marcos, Terrell and Texas City.
The Greensboro, N.C.-based company said it typically seeks locations in markets with at least 1 million people within a 30- to 40-mile radius and an average household income of $65,000, according to its annual report filed with the Securities and Exchange Commission in February.
Another outlet project is also planned nearby along I-35W.
Fort Worth-based Woodmont Land Co. is under contract to buy 45 acres from Hillwood Properties, the developer of AllianceTexas, for a 350,000-square-foot project off Interstate 35W just north of Cabela’s. The center is to be called The Outlets at Alliance.
Stephen Coslik, president of Woodmont Land, said Monday that the project is still on track but that no closing date on the land sale has been set.
“We believe we have the better site,” Coslik said.
Sandra Baker, 817-390-7727