Terrell Market Center Updates
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Oakridge Investments, the owner/developer of what will become Terrell Market Center, the development that is the current focus of Terrell’s Tax Increment Financing District (TIF District) deal with Kaufman County, has announced their plans for the site. Terrell Market Center is located where I-20, FM 148 and Spur 557 (which leads to Hwy 80) meet.
According to GlobeSt.com, Oakridge is keeping 36 acres of the 89 acre site for a 200,000 square foot retail/restaurant center (some media reports place the center at 200,000 sq. feet, others at 300,000 st. feet) and has sold the remaining land to Baylor. Baylor says they are evaluating the site and the surrounding area and have not made a conclusive decision about what they will use the site for beyond a ‘medical campus’ - it could potentially become a day surgery facility, a medical center/doctor’s office building or a hospital. Click read on for more…
Oakridge has stated they intend to solicit national retailers for the Terrell Market Center, with a focus on bringing in restaurants. $6 million worth of infrastructure work on the site is scheduled to begin this summer throughout the entire 89 acre tract, which is expected to take 18 months to complete. Representatives from Oakridge Investments told the media they may be able to break ground on Terrell Market Center in the spring of 2009, with stores possibly opening by 2011.
Media reports indicate that the Terrell Market Center plans were moving forward before the finalization of the TIF, but that Baylor was waiting on the formation of the TIF District before they purchased their portion of the land.
While not in Forney, this development will be mere minutes from much of Forney, including Windmill Farms, and residents of Forney will no doubt be interested to see what restaurants and retailers announce plans to open at the Terrell Market Center.
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