CTroyMathis
04-02-2002, 02:48 PM
Arlington: Ballpark development on hold
Southwest Sports says commercial projects are at least 6 months away
03/31/2002
By MICHAEL A. LINDENBERGER / The Dallas Morning News
Don't expect to see signs anytime soon of the promised commercial development that was to surround The Ballpark in Arlington.
The beginning of commercial construction near The Ballpark remains at least six months away, an executive with the Texas Rangers' parent company said.
Mike Cramer, president of Southwest Sports Group, the parent company of both the Rangers and the Dallas Stars, said the Arlington project remained a top priority for the company. Significant money has already been spent on architectural design work, studies and other initiatives, he said.
"We work on it every day," Mr. Cramer said. "I meet personally with the Arlington chamber folks just about every week. We have a very big investment there already in the team and in the land."
Arlington officials and residents have been waiting about 10 years for the development at The Ballpark's 270 vacant acres to begin. Retail, office and residential projects had been billed as another reason voters should support a half-cent increase in the sales-tax rate to pay for the stadium.
Rangers owner Tom Hicks bought the team and associated properties in 1998 for $250 million. Last April, he announced that the first phase of a long-term major development project would begin in 2001. Three buildings were to be under way by the end of December.
Mr. Cramer said the terrorist attacks of last fall and the uncertain economy since then had forced the company to wait.
"Sept. 11 definitely sidetracked us," he said. "And we can only create what the market will support."
He said vacancy rates for commercial office space were high throughout the Dallas area, a trend that he said would get worse before it improved, even if the overall economy continued to get better.
"I don't expect anything in the ground within the next three or six months, for instance," he said. "We don't want to build buildings only to have them sit empty. Still, we are a long-term builder in Arlington, and we do work weekly on that project."
Meanwhile, the city's elected officials said they were content to let Mr. Hicks sort out the complexities of the economic environment. They said they remained hopeful that he would bring a viable project to the council soon.
"Yes, I do have some optimism," Mayor Elzie Odom said. "Listen, Sept. 11 made a lot of difference to a lot of things and a lot of people. And a company like Southwest Sports is going to proceed real cautiously. From what he has been talking about, they are planning to spend a lot of money. It's going to happen. It just hasn't happened as quickly as we had once hoped."
Council member Ron Wright acknowledged that the city had been waiting a long time to see something built alongside The Ballpark. But he said the lesson for city planners and voters was that real estate deals happen when the market makes them viable, and not before.
Meanwhile, another team has expressed some interest in partnering with the city to build a stadium in Arlington.
Opponents of those discussions between Arlington and the Dallas Cowboys cite the empty acreage around The Ballpark – and what they see as the original empty promises – as proof that taxpayer assistance for owners of sports teams is foolish.
Mr. Cramer said it was too soon to say whether the development plans, once they were presented to the council, would include a request for local tax incentives.
"We simply have not gone to council with a proposal because we are not sure yet what will be built," he said.
Mr. Odom and other members of the council agreed that such speculation was premature.
"They haven't asked," Mr. Odom said. "And they haven't given us any time frame."
Southwest Sports says commercial projects are at least 6 months away
03/31/2002
By MICHAEL A. LINDENBERGER / The Dallas Morning News
Don't expect to see signs anytime soon of the promised commercial development that was to surround The Ballpark in Arlington.
The beginning of commercial construction near The Ballpark remains at least six months away, an executive with the Texas Rangers' parent company said.
Mike Cramer, president of Southwest Sports Group, the parent company of both the Rangers and the Dallas Stars, said the Arlington project remained a top priority for the company. Significant money has already been spent on architectural design work, studies and other initiatives, he said.
"We work on it every day," Mr. Cramer said. "I meet personally with the Arlington chamber folks just about every week. We have a very big investment there already in the team and in the land."
Arlington officials and residents have been waiting about 10 years for the development at The Ballpark's 270 vacant acres to begin. Retail, office and residential projects had been billed as another reason voters should support a half-cent increase in the sales-tax rate to pay for the stadium.
Rangers owner Tom Hicks bought the team and associated properties in 1998 for $250 million. Last April, he announced that the first phase of a long-term major development project would begin in 2001. Three buildings were to be under way by the end of December.
Mr. Cramer said the terrorist attacks of last fall and the uncertain economy since then had forced the company to wait.
"Sept. 11 definitely sidetracked us," he said. "And we can only create what the market will support."
He said vacancy rates for commercial office space were high throughout the Dallas area, a trend that he said would get worse before it improved, even if the overall economy continued to get better.
"I don't expect anything in the ground within the next three or six months, for instance," he said. "We don't want to build buildings only to have them sit empty. Still, we are a long-term builder in Arlington, and we do work weekly on that project."
Meanwhile, the city's elected officials said they were content to let Mr. Hicks sort out the complexities of the economic environment. They said they remained hopeful that he would bring a viable project to the council soon.
"Yes, I do have some optimism," Mayor Elzie Odom said. "Listen, Sept. 11 made a lot of difference to a lot of things and a lot of people. And a company like Southwest Sports is going to proceed real cautiously. From what he has been talking about, they are planning to spend a lot of money. It's going to happen. It just hasn't happened as quickly as we had once hoped."
Council member Ron Wright acknowledged that the city had been waiting a long time to see something built alongside The Ballpark. But he said the lesson for city planners and voters was that real estate deals happen when the market makes them viable, and not before.
Meanwhile, another team has expressed some interest in partnering with the city to build a stadium in Arlington.
Opponents of those discussions between Arlington and the Dallas Cowboys cite the empty acreage around The Ballpark – and what they see as the original empty promises – as proof that taxpayer assistance for owners of sports teams is foolish.
Mr. Cramer said it was too soon to say whether the development plans, once they were presented to the council, would include a request for local tax incentives.
"We simply have not gone to council with a proposal because we are not sure yet what will be built," he said.
Mr. Odom and other members of the council agreed that such speculation was premature.
"They haven't asked," Mr. Odom said. "And they haven't given us any time frame."