Arlington Firm Plans $1 Billion Development

By KIM BREWER
Star-Telegram Writer

A group of Arlington real estate developers today unveiled a plan to transform a 2,100-acre flood plain into a $1 billion residential and industrial project.

The proposed development involves an area now used for farming and gravel production.

It is bordered by Farm Road 157 on the west, Texas 360 on the east, the Trinity River on the south and the Chicago, Rock Island and Gulf Railway on the north.

Developers are Gary Sibley and Jimmy Wolff of Meridian Services Corp.

Representatives of the firm asked Tarrant County commissioners to create a special levy district that would allow issuance of bonds to finance flood control improvements.

Commissioners scheduled a public hearing for 10 a.m. Jan. 31.

Stephen Harrison of Meridian Services said the project would improve what now is a "wasteland."

If commissioners create a special levy district, the developers still would be required to seek zoning approval from the city of Arlington. Part of the land is within Arlington city limits and the rest is in its extra-territorial jurisdiction.

Developers said they expect Arlington to annex the area if the levy district is created.

Shadowridge subdivision is the residential area nearest the flood plain.

Greg Cagle, also with Meridian Services, said the plan calls for construction of a levy and water channel through the center of the project. The channel would route water to the Trinity in times of flooding.

Cagle said the project would take 20 years to complete. The project would include single-family and multifamily residences, high-technology industrial facilities and commercial developments.

"It's going to be a long-term project," Cagle said. "We're not going to get approval of all these districts and zoning and turn around and flip the property to someone else."