PRESS RELEASES - February 2008

February 29, 2008

Four Arlington Development Projects Among Region’s Best Real Estate Deals for 2007

The Viridian project captured the 2007 Best Announced Deal Award, and the developers of three real estate projects were named finalists in the 16th Annual Best Real Estate Deals of the Year Awards Ceremony held Thursday, Feb. 28, in Dallas.
The annual event is sponsored by the Dallas Business Journal and recognizes the best in commercial and real estate deals in North Texas. More than 750 people attended.
The Levitt Pavilion for the Performing Arts, Parks at Arlington Mall and Pioneer 360 Business Center were finalists, competing with more than 350 commercial real estate projects in the region.

Mayor Robert Cluck said the projects are a result of collaboration, teamwork and visioning.
“These projects are the most recent examples of ongoing efforts to grow and expand our economic tax base,” he said. “We’re on the right track for enhancing our place as a regional partner and as a city of choice for families, developers and skilled job seekers.”

About the Projects

Viridian – Named Best Announced Deal for 2007
Huffines Communities has plans to transform 2,371 acres of riverfront property in far north Arlington into a 5,000-unit residential community with office and retail. The Viridian project will also have a Town Center anchored by a hotel. Housing models are scheduled to open in 2009; grand opening is planned for spring 2010. Read more about it at www.huffinescommunities.com.

Levitt Pavilion for the Performing Arts - Finalist: Best Community Impact Category
The Levitt Pavilion for the Performing Arts is a 1.24 acre project in downtown Arlington on schedule to becoming a focal point of Founder’s Plaza. The project is an example of public and private parnerships designed to support arts, culture and beautification of downtown Arlington. Groundbreaking is set for March 6. Read more about the project at www.downtownarlington.org.

Arlington Projects Among Best Deals in North Texas

Parks at Arlington Mall – Finalist: Best Retail Lease Category
When the Parks at Arlington Mall lost anchor tenant Mervyns, it gained many opportunities. The Cheesecake Factory has opened a 380-seat restaurant and remaining space will soon be home to a new Barnes and Noble store and Forever 21 women’s apparel shop, filling up 85,000 square feet of space at the entrance to the mall. Read more about the Parks at Arlington Mall at www.theparksatarlington.com.

Pioneer 360 Business Center – Finalist: Best Land Deal Category
The City’s Economic Development Office led a plan for 72.4 acres of land left vacant when the Festival Marketplace closed in 2006. Brian Flaherty of Flaherty Development demolished the vacant structure, paving the way for the development of 1.6 million square feet of Class A commercial park development and creating an estimated 350 jobs at State Highway 360 and Pioneer Parkway. Read more about the project at www.arlingtontx.gov Keyword Search: Pioneer 360 Business Center.

To learn more about the Champion Arlington economic development strategy, visit the City of Arlington website at www.arlingtontx.gov and click on Business.