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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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Officials planning new Interstate 30-Texas 360 interchange

A. Lee Graham
lgraham@bizpress.net

As motorists cast a hopeful eye toward North Tarrant Express improvements, another project could soon command their attention.
In early design stages is a redesigned Interstate 30-Texas 360 interchange in North Arlington, which would allow two of Dallas-Fort Worth’s most-traversed motorways to connect and provide commuters a more seamless traveling experience.
“We’re hopeful that should the state of Texas decide to pass Proposition 1, that some of that money could go to this project,” said Brian Barth, district engineer for the Texas Department of Transportation’s Fort Worth office.


Speaking at the Aug. 6 monthly meeting of the Tarrant Regional Transportation Coalition in Fort Worth, Barth emphasized that funding has not been confirmed. Nor have detailed been disclosed – at least publicly – for an interchange that would allow those traveling east or west along I-30 to veer north or south on Texas 360 without needing to exit to secondary roadways first.
If voters approve the measure in November, Proposition 1 would authorize annual payments from the state’s oil and gas taxes to the State Highway Fund. That could total $1.4 billion in the first year without levying new taxes or debt, points raised by those supporting the measure.
“We’ve got some funding to do,” said Barth, pointing to an estimated construction cost of $206 million.
Conceptual renderings have been drawn by TxDOT, according to the Southeast Tarrant Transportation Partnership, an Arlington-based group that advocates for area transportation improvements.
Improved safety helped planners consider a redesign, according to Jody Hodges, a TxDOT spokeswoman.
“The existing interchange is designed as a cloverleaf,” said Hodges, describing the improved interchange as one of many unfunded – albeit important – projects that her department is pursuing.


“There are a lot of needs in North Texas, just not a lot of funding,” Hodges said.
Also at the TRTC meeting, Barth provided a construction update on North Tarrant Express.
North Tarrant Express continues to be ahead of schedule, with the $2.5 billion freeway improvement project 96 percent complete and expected to wrap up sometime this fall.
“It will be complete and open in the fall, six to nine months ahead of schedule,” Barth said.
The project, which will widen North Loop 820 and Texas 121-183, is split into west and east segments, with the western portion between I-35W and Texas 121 and the eastern portion between Texas 121 and the city of Euless.
Since construction began in November 2009, motorists have grappled with traffic slowdowns, roadway re-routing and other headaches required for crews to bring architects’ plans to fruition. According to civil engineers, the project has employed 2,100 workers from 160 local companies, spurred new economic development in the project corridor and prompted consumers to spend about $1.5 million a day in area businesses.


Motorists currently squeezing by on two narrow lanes coursing past North East Mall in Hurst can expect wider lanes when the project reaches fruition, Barth said.
“That’s just a temporary condition for traffic handling during construction,” Barth said.
Project financing came from a $573 million investment from the Texas Department of Transportation, which was leveraged through $400 million in private activity bonds, $426 million in equity from NTE Mobility Partners and $650 million in loans through TIFIA (Transportation Infrastructure Finance and Innovation Act), which in 1998 established a federal credit program for such transportation projects.


 

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