That's what happens when a restructuring of the CBD's premier development entity brings a 19-year employee of Maryland-based Rouse Co. on board as president and CEO for Sundance Square Management. Johnny K. Campbell, who is filling the shoes of William V. Boecker, won't tip his hand as to how much more retail will be added to the 16-block holding, but emphasizes it will be significant. "Clearly, it's a probability that we will be looking to increase the critical mass of retail," he tells GlobeSt.com, laughing as estimates of 50,000 sf or even 100,000 sf had been posed as possibilities.
Boecker is now the president and CEO of Sundance Square Development. Vicki Dickerson remains as president and CEO of Sundance Square Projects.
The key could lie with Fine Line Diversified Inc.'s buyout of the tornado-damaged Bank One Tower at Throckmorton Street. Boecker also is president of Fine Line, which is another Bass family entity. A closing date between Loutex Fort Worth and Fine Line has not been set, but clearly the tower's razing will free up a key parcel that everyone around town knows is destined for something far greater than the announced temporary fate as a parking lot.
Campbell says the Sundance Square Management shuffle is the first step toward beefing up the existing 900,000-sf portfolio, which includes office and residential. Sundance Square also holds the keys to a core of undeveloped Ft. Worth properties.
Campbell's task will be to continue with the successful balance of retail, office and residential that Boecker has put together for the CBD's eclectic mix, which is a sure-fire tourist draw. It's all in the timing, says Campbell, and finding "the right player at the right time." He says he "can't put a season" on when the infusion of new retail blood will begin. Campbell had been vice president and general manager for Rouse's 150,00-sf Arizona Center in downtown Phoenix, which boasts 900,000 sf of office space. He also had been retail operations manager at Harborplace & The Gallery, a mixed-used development in Baltimore's upscale Inner Harbor.
Boecker says Campbell brings to the play a "unique understanding of and appreciation for what makes an urban environment special." Ft. Worth's urban persona, says Campbell, is what had made the job particularly attractive. Sundance Square is a 24-hour entertainment and retail venue that is internationally recognized for its renovated 19th and 20th century buildings and brick streets.
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