Developer Dusts Off $75M-Plus Plan

LEWISVILLE, TX-A North Texas developer is ready to forge ahead on an 80-acre retail development for a 411-acre mixed-use plan that’s now under way after a near five-year wait. The retail component will add 500,000 sf to 750,000 sf with a build-out value of more than $75 million.

Tim Barton, president and CEO of JMJ Development Inc. in Dallas, says the Centre at Crossroads plan was dusted off about a month ago after sitting on the drawing board until the development partnership perceived the market to be ready for the added space. He tells GlobeSt.com that another 47 acres on the north side of Texas 121 are under contract for eventual build-out as commercial or possibly more retail space.

Barton says he’s interviewing “the three best brokerage houses in Dallas” to prelease the Centre at Crossroads, gateway retail to a residential development of townhomes, apartments and single-family houses. He says the decision will be made in a couple weeks so a full-court press can be ready to lob at the Las Vegas convention of the International Council of Shopping Centers in May.