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Plans Still on for Grand Prairie, Irving Outlet Centers
Wednesday, January 14, 2009 4:04 AM


(Source: The Dallas Morning News)trackingBy Maria Halkias, The Dallas Morning News

Jan. 14--While shopping center projects are being mothballed or canceled, and store closings are more common than openings, plans for major outlet centers in Grand Prairie and Irving are still alive.

Prime Outlet in Grand Prairie could open in late 2010 if it can secure a construction loan by late spring. The center was originally planned for late this year.

But in Irving, Tanger Factory Outlet has yet to purchase the land. In late October, Tanger canceled two similar projects in Arizona and Florida.

Prime Retail president Robert A. Brvenik listed the steps Tuesday his company has completed: Prime has purchased the land at Interstate 20 at State Highway 360, has lease commitments for 50 percent of the project and has equity partners in place.

Prime has commitments from anchors Neiman Marcus Last Call and Saks Fifth Avenue's Off 5th as well as smaller stores that include Brooks Brothers Factory Store, Columbia Sportswear and Dooney & Bourke.

"But we're still negotiating for a construction loan," Brvenik said. "It might be easier to go to our local congressman, but unfortunately, we can't go to the government for money."

Banks are interested in the project, he said, but Prime may end up building the 485,000-square-foot center in phases. "That's always a possibility."

Tanger's proposed 300,000-square-foot center has more hurdles to overcome. When asked for an update Tuesday, Mike Buescher, director of marketing for Tanger Outlet Centers, said, "We have nothing new to report on this project at this time."

Next month, Tanger is scheduled to report its fourth-quarter earnings and will probably provide an update. When it announced its third-quarter results in October, the company canceled similar projects in Phoenix and Port St. Lucie, Fla. At the time, Tanger said it planned to focus on the Irving center and one in Mebane, N.C.

John M. Bonnot, vice president of economic development for Irving and Las Colinas, said Tuesday that Tanger hasn't updated his office since last spring.

Outlet centers have been booming in recent years as developers built projects closer to major cities and rules about selling discounted goods too close to full-price malls and department stores were relaxed.

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