Talks are underway and work will begin soon to develop a new 88-acre site at the intersection of I-30 and Highway 205 for a new retail store and townhouse community.
Costco Wholesale Corp. has already received approval from the City of Rockwall for a 153,000-square foot store on 20.2 of the 50 retail-designated acres which will be called Rockwall Corners Shopping Center.
The developer, St. Ives, an affiliate of Bridge Realty Partners Inc., is bound by a confidentiality agreement so its executives won’t disclose additional stores, but their plan is to divide the rest of the retail land into five pad sites. including a two-acre tract for an 18,000-square foot strip of inline space.
Work won’t begin, however, until construction is further along to make Hwy. 205 into eight lanes and the I-30 overpass into six lanes.
According to Dale Bryant, the developer’s leasing agent, he will be starting talks this week with interested retailers who quickly contacted him after word about the development leaked out. He says talks are also under way with two multifamily developers who are negotiating for that land.
Gale Roberge, senior project manager for St. Ives’ construction manager, Dallas-based Falcon Construction Advisors, says infrastructure will be completed by the end of November, allowing Costco to take over its development site for vertical work to begin.
She said St. Ives’ site has 1,000 feet of frontage along I-30’s service road.
“It’s a lot more exciting of a project, but at this stage, it’s just the infrastructure and laying the groundwork for development.”
Bryant said St. Ives acquired the land from two property owners after it had been overlooked for years, primarily due to topography and drainage issues.
“We were able to work that out with the city, however,” he said.
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