A town between Dallas and Waco said “good riddance” to its once-thriving 1990s shopping destination.
The long-vacant Outlets at Hillsboro is coming down to make way for a $75 million redevelopment led by Dallas-based Glaser Retail Partners, the Dallas Business Journal reported.
Demolition began this month on the project at 104 Interstate 35NE, where the interstate splits, about 60 miles south of Fort Worth and Dallas. Glaser’s plan calls for 200,000 square feet of retail and restaurant space across 43 acres, with another 15 acres reserved for 230,000 square feet of industrial and distribution centers.
The development, which began with a ceremonial demolition last week, is expected to open in phases starting next spring. City officials said the project could create as many as 400 jobs while helping to shed Hillsboro’s image as a stagnant former retail hub.
“We were tired of being defined by a rundown relic of former glory days,” Hillsboro City Manager Megan Henderson said.
Brian Glaser launched Glaser Retail in 2013. The firm intends to bring in a mix of national fast-food and sit-down restaurant chains to the development, he said. Tenants haven’t been confirmed, but state filings show applications for Chili’s, Panda Express and Waffle House.
A big-box anchor tenant — likely a grocery, home improvement or hardware chain — is being negotiated, Glaser said. A Bath & Body Works store is the only business staying put from the original outlet center.
The site is part of a tax increment reinvestment zone, which the city will use to help fund infrastructure improvements and maintain the surrounding area. Roughly 83,000 vehicles on I-35 pass the site daily, making it attractive for retail and logistics tenants, Glaser said.
The distribution component of the project will follow the retail phase, and talks with logistics firms are underway, Glaser said.
The project adds to Glaser Retail’s growing portfolio across Texas, which includes the $200 million Stacy Green mixed-use development in Allen and projects from Denton to McAllen.
— Judah Duke
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