Months of speculation ended on Wednesday morning as Tanger Factory Outlet Centers Inc. confirmed plans for a new Tanger Outlet Center in far north Fort Worth.
The outlet resource will be part of Fine Line Diversified Development’s Champions Circle, a 279-acre commercial mixed-use real estate development adjacent to the Texas Motor Speedway.
When construction reaches completion, the mall is expected to offer about 350,000 square feet of retail space and more than 70 upscale brand name and designer outlet retailers.
A Fort Worth councilman applauded the plan.
“We couldn’t be more thrilled and honored to have such a highly recognized national retail name like Tanger Outlet Centers become a great new addition to our outstanding family of Fort Worth-area businesses,” said District 7 Councilman Dennis Shingleton in a news release.
“Tanger is the ideal partner to make the vision for Champions Circle everything we had hoped. We look forward to continuing to work closely with them on a world class project at this premier intersection,” said Bill Boecker, president and CEO of Fine Line, commenting in a news release.
“We are excited to join this vibrant market and fast growing community, neighboring the world famous Texas Motor Speedway and just a short drive to Dallas-Fort Worth Airport, downtown Fort Worth and its renowned cultural district,” said Steven B. Tanger, president and CEO of Tanger Outlets.
Tanger has attracted and signed leases with retailers such as Nike, Levi’s, Banana Republic, Gap, Old Navy, Express, Skechers, Carter’s and Oshkosh. The firm is negotiating leases with numerous other designer-retailers seeking space at the location.
The center is expected to create more than 400 full- and part-time jobs during the construction phase and more than 900 full- and part-time retail jobs when the center opens.
Meanwhile, a different developer backing another outlet mall that would stand near the Tanger location at Interstate 35W and Texas 170 is seeking a $20 million economic development grant over a 15-year period.
The Woodmont Co.’s 115-acre project is “trying to move fairly quickly” with hopes of breaking ground this year and finishing construction in 2019, said Robert Sturns, economic development director at the city of Fort Worth. Woodmont plans to build 580,000 square feet of retail, restaurant and other space.
Though no tenants have signed onto the project yet, potential tenants in the Woodmont outlets include H&M, J. Crew and Vera Bradley, Sturns said.
The Fort Worth City Council is expected to vote on the grant on March 22.
As for Tanger, its mall will join other components at Champions Circle including:
• The Dallas-Fort Worth Marriott Hotel
• Buc-ee’s Travel Center: under construction and slated to open in time for Memorial Day
Churchill Apartments, a 137-unit apartment community nearing and expected to welcome its first tenants in June.
Gray Dove Apartments: a 700-plus unit apartment complex adjacent to Churchill Apartments.
• Champions Shopping Center, a 540,000-square-foot power center adjacent to Tanger site, featuring shops and freestanding restaurants.
“We are excited about the prospect of Tanger Outlets joining the Champions Circle development across from the Speedway,” said Eddie Gossage, president of Texas Motor Speedway, commenting in a news release.
Champions Circle is located 18 miles north of downtown Fort Worth at Interstate 35W and State Highway 114, across from the main entrance to the Texas Motor Speedway.
Tanger Factory Outlet Centers Inc. is a publicly traded real estate investment trust headquartered in Greensboro, N.C. It owns, operates and owns, or has an ownership interest in, a portfolio of 42 upscale outlet shopping centers and two additional centers currently under construction. More information is available at www.tangeroutlets.com.
Staff writer Samantha Calimbahin contributed to this story.