Trademark Property Company’s long-gestating plan to remake Lincoln Square in Arlington just cleared a key hurdle.
The Arlington Economic Development Corporation board unanimously approved an incentives agreement with the Fort Worth-based developer to help fund the transformation of the 470,000-square-foot shopping center into a rebranded mixed-use hub called Anthem. The center, built in the early 1980s along North Collins Street south of I-30, is anchored by tenants including Studio Movie Grill, Office Depot and Olive Garden, the Dallas Business Journal reported.
Under the deal, Trademark must invest at least $100 million — excluding tenant costs — in exchange for up to $24.48 million in infrastructure grants paid out between 2026 and 2031. Site work must begin by Sept. 30 and reach substantial completion by Jan. 31, 2030.
The redevelopment would include upgrades to infrastructure, facades, parking lots and entryways, along with landscaping and new public spaces. Plans also call for demolishing a small portion of existing retail to open up the project and potentially add a new office building. The EDC is considering purchasing a pad site for a future office development for $3.4 million.
To unlock the public dollars, Trademark must maintain at least 325 jobs at the property and secure 70,000 square feet of new leases. The developer is also required to invest at least $500,000 in community or project amenities. If the project outperforms Trademark’s projected internal rate of return upon a sale, the city and EDC would receive 15 percent of the excess returns — a rare clawback-style upside provision in suburban retail deals, according to the outlet.
The agreement now heads to the Arlington City Council, which is expected to vote Feb. 24.
Trademark has pitched Anthem as a “modern gateway” to North Arlington, near the city’s entertainment district. The City Council approved zoning in March 2024 allowing for higher density, and early plans included a 200-room hotel, 355 apartments and 125,000 square feet of office and coworking space.
Those ambitions have since been scaled back. Amid softer apartment rents and difficulty landing a luxury flag, Trademark dropped the hotel and multifamily components. CEO Terry Montesi said during a zoning hearing last fall that the project would still represent a significant upgrade.
— Eric Weilbacher
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