First Hartford Realty Plans 1M-SF-Plus Retail

EDINBURG, TX-First Hartford Realty Corp. is ready to begin its second Texas project, the 1.1 million-sf Shoppes at Rio Grande Valley. The 130-acre open-air center has an all-in development cost of $80 million.

The developer already has J.C. Penney Co. Inc. as its lead anchor with 104,000 sf. The Shoppes at Rio Grande Valley will be comprised of a 455,000-sf lifestyle center and an adjacent 700,000-sf power center. First Hartford acquired the land at Texas 281 and Trenton Road in 2005–and waited for the right time to begin development.

“With the signing of J.C. Penney and interest from other realtors, we felt confident that there was a reason and enough interest from both national and regional players to begin this project,” says Peter Higgins, VP of the Hartford, CT-based developer. The plan is to begin construction in June, with fall 2008 penciled for the official opening.