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Group buys former Armour meatpacking site in Stockyards

The 16.8-acre site of the historic, former Armour meatpacking plant in Fort Worth’s Stockyards has changed hands, and its new owners aren’t saying anything about their plans. Chesapeake Land Development Co., which bought the site

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Hulen Pointe Shopping Center sold

Hulen Pointe Shopping Center, located in southwest Fort Worth on South Hulen Street one mile south of Hulen Mall, has been purchased by Addison-based Bo Avery with TriMarsh Properties for an undisclosed price.

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Dallas-Fort Worth in top five commercial real estate markets in 2015

According to the Emerging Trends in Real Estate 2015 report, just co-published by PwC US and the Urban Land Institute (ULI), Dallas-Fort Worth ranks No. 5, with two other Texas cities, Houston and Austin ranking at No. 1 and 2 respectively. San Francisco ranks No. 3 and Denver No. 4.

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Social House Fort Worth plans to open mid-November

Social House has leased 5,045 square feet at 2801-2873 W Seventh St. in Fort Worth, according to Xceligent Inc.

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Fort Worth temporarily stops issuing new home permits in TCU area

The moratorium will give a committee and the City Council time to review a proposed overlay that will pare the number of permissible unrelated adults living in the same house.

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Cowboys moving to new 'burb in Dallas

 

URIEL J. GARCIA,Associated Press


FRISCO, Texas (AP) — The Dallas Cowboys formally announced Tuesday they are moving their headquarters from suburban Irving to suburban Frisco after winning overwhelming approval for a $115 million development that includes an indoor stadium for practice and use by area prep teams.

Accompanied by cheerleaders and city officials, Cowboys owner Jerry Jones and his son, executive vice president Stephen Jones, made a quick trip home from training camp in Oxnard, Calif., to celebrate with Frisco officials. The multi-use sports facilities, which will be shared with Frisco Independent School District's sports teams, are expected to open in 2016.

"Frisco is a city (that) they think big and they act bold. They have a vision and they act on it," said Stephen Jones. "It gives us great comfort to do business with people who think like this."

The 12,000-seat indoor stadium along with two outdoor training fields will be paid for mostly through a city sales tax, with the school district funding part of the construction. This 25-year deal between the Cowboys and the city was approved late Monday and calls for the football team to manage the facilities, any additional upgrades and pay for operating costs, which is estimated at $1.5 million a year.

"The goal is to be successful. It's very important for the Cowboys to be an example to other companies that are interested in locating in North Texas," Jerry Jones said. "We have always over-performed when it comes to spending money."

The deal calls for the Cowboys to hold training camp at the facility for at least one week per year. District high schools will use the stadium for football games, too.

Frisco Mayor Maher Maso said bringing the Cowboys' headquarters was a coup for one of the fastest-growing communities in the country.

"It's never about the building," he said. "It's about the people, the organization and the level of excellence."

School district officials said they were already planning on building a football stadium before signing onto this private-public deal.

"We could in no way duplicate a stadium of this caliber on our own, spending the same amount for construction," said Jeremy Lyon, Frisco ISD's superintendent.

Lyon said the partnership will save taxpayers money in the long run by fronting the constructions costs and letting the Cowboys lease and maintain the facility. School-related events planned at the facility will be paid by the district.

Frisco is already the home of the FC Dallas of Major League Soccer, a minor league affiliate of baseball's Texas Rangers and the training facility for hockey's Dallas Stars. It is about 30 miles north of Dallas — and about 45 miles from AT&T Stadium in Arlington.

John Classe, a board member with the city who voted for the deal, said FC Dallas had a similar deal to what the Cowboys are getting, with the city funding its stadium but leaving leasing and management costs to the team.

"Just like that deal, it's anticipated that the Cowboys will put more money into the facility above and beyond the city's commitment," Classe said. "Therefore we will end up with a nicer facility."

The 91-acre development includes 25 acres for the Cowboys' facilities, while the remaining 66 acres will be used for stores, restaurants and a luxury hotel. According to city officials, the development will generate $1.26 billion in tax revenue with an estimated economic impact of $23.4 billion over the next 30 years.

This deal ends a four-decade relationship between the Cowboys and Irving.

"We won three world championships (in Irving) we hope to ... replicate that here," Jerry Jones said.
 

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