The area surrounding the Texas Motor Speedway is at the starting line of development, with numerous stores and shopping centers planning to open in the North Fort Worth area. The Woodmont Co chairman Stephen Coslik, one of the men responsible for The Outlets of Alliance, talked with us about the growing submarket.
Earlier this month, Tanger Factory Outlet Centers announced it's opening a new upscale shopping center around the TMS. That's in addition to the Buc-ee’s, QuikTrip and Farmer Brothers Coffee all making the move to that area. Stephen tells us major retail development follows population growth. Recent residential growth and more expansions planned caused this demand.
Stephen (below, on right, with Ted Gupton and Kirk Millican) tells us the I-35W corridor has been on TXDot’s radar for a while now due to that residential growth. He anticipates the projects will be well-received—new homeowners and interstate travelers who don’t want to fight heavy traffic will find this new retail hotspot very appealing.
Will it be a problem that two outlet malls will be in the same space? Stephen says no. He believes the housing base of the North Fort Worth area supports the need for a strong retail presence. Stephen’s main goal now is The Outlets of Alliance, which he tells us will be built on the best real estate, adjacent to Cabela's. The outlet mall would be approximately 580k SF with 330k SF dedicated to retail space. With potential tenants that include H&M and Vera Bradley, Stephen says the completion date is still up in the air.
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