News Article | 2/14/2006

Power Center planned near Circle T Ranch

Hillwood and General Growth Properties Inc., developers of the long-planned Shops at Circle T Ranch northeast of Fort Worth, have partnered to build a 1.1 million-square-foot power center near the planned mall.

The yet-to-be-named center will be built on 150 acres at the northeast corner of State Highway 170 and U.S. 377 in the town of Westlake, said Hillwood spokesman David Pelletier. Hillwood and General Growth plan to break ground on the center in the fall.

Darrell Lake, senior vice president of Hillwood Development, said General Growth will announce the center’s first lead tenant in the near future. Tenants, he said, will be big-box users and restaurants, similar to the types of users located near Stonebriar Centre, a mall in Frisco, north of Dallas.

The first phase of the project will include 300,000 square feet of retail space.

The power center is scheduled to be built across State Highway 170 from Ross Perot Jr.’s Circle T Ranch, a 2,300-acre spread of mostly rolling hills and ranchland under development by Hillwood. In addition to the Fidelity Investments campus, the ranch includes a DaimlerChrysler corporate campus and Vaquero, a private golf course surrounded by estate homes.

General Growth is also planning to partner with Hillwood to build a mall at Circle T.