“Obviously, we are disappointed,” said Chris Wallace, president and CEO of the Greater Irving Las Colinas Chamber. “But we understand, in these volatile economic times when it relates to retail, these are signs of the time we live in.”
In 2008, Tanger announced plans to build a 380,000-square-foot shopping center at the corner of State Highway 114 and Loop 12. The outlet mall was expected to be the first development to revitalize the area around the old Texas Stadium.
“This is one of the busiest interchanges in North Texas, very high traffic,” Wallace said. “We’re getting a lot of good leads for redevelopment.”
Wallace expects it will take eight or nine years before the area is fully developed. He would not give any hints about who is being targeting as future tenants.