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Apr 24, 2009 9:18 pm US/Central
Construction Booming In FW's Alliance Town Center
Arezow Doost
FORT WORTH (CBS 11 / TXA 21) ―
The slow economy is forcing many businesses to close their doors.
But the Alliance Town Center along I-35W in Fort Worth is booming with new construction.
"It's a little bit surprising given the environment we are in," Bill Burton with Hillwood Properties. The company is behind the development and has leased more than 1.2 million-square-feet in North Texas just in the first three months of this year.
They are the same group who developed Dallas' Victory Park, which is facing financial troubles of its own.
Sam Moon is just the latest to come on board at Alliance Town Center. The retail store, known for the latest in women's accessories and handbags, is wrapping up construction on its 168,000-square-foot center. The store is slated to open in May.
"It's the location. We are just north of Forth Worth," said Bob Reynolds with Sam Moon. "We have surrounding cities here that have been around for a long time and asking for us for a while."
Hillwood said the key for this area seems to be location. There are a number of businesses and corporations moving to what's dubbed the new shopping destination.
"This was all cow pastures and fields and really just longhorns," described Tonya Switzer, who lives near the shopping strips under construction.
Switzer said though it's nice to have all the stores right in her backyard, she hates to see the country turn into the city.
Hillwood Properties said they have also noticed home sales doing better than surrounding areas. There is so much growth just west of Fort Worth towards Keller that the school district is opening a new high school in August.
"It's wonderful. We love it," said Waleska Rivera from Keller.
Rivera said they welcome the growth and the new shopping centers.
"It's still quite because I think they are still building," said Rivera "Maybe in a few year it will be different."
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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