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Oakridge, Baylor Mulling Plans for 89-Acre Site

TERRELL, TX-Oakridge buys the site and flips 53 acres to Baylor. Oakridge, kicking in infrastructure, will break ground in 2009 on the 200,000-sf Terrell Market Center.

By Connie Gore | Updated on January 15, 2008

[IMGCAP(1)]TERRELL, TX-After keeping the land under contract for two years, Oakridge Investments Inc. has moved forward on the development plan for an 89-acre tract in Kaufman County. The Dallas-based developer is keeping 36 acres for a 200,000-sf power center and has flipped the balance to Baylor Health Care System for a medical center campus.

Oakridge’s Justin Allen tells GlobeSt.com that nearly $6 million of infrastructure work will get under way in the summer on the entire site, which is bound by Interstate 20, Spur 557 leading to US Hwy. 80 and FM 148. The infrastructure is expected to take 18 months to complete, including widening the local road to four lanes.

Allen says it’s conceivable that ground will break in spring 2009 on Terrell Market Center, which has a projected all-in cost of $80 million to $100 million. The Oakridge team has a firm handle on its part of the plan, but Dallas-based Baylor has yet to decide what it will build. Insiders, though, say talks have included both in-patient and out-patient facilities.

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