Arlington’s Lincoln Square redevelopment moves forward…
Arlington’s Lincoln Square redevelopment moves forward, sidesteps hotel, apartment plans
Revised redevelopment plans for Anthem, formerly known as Lincoln Square, received approval from Arlington zoning commissioners March 5 in a 6-2 vote by commissioners, with one abstention.
Linda Finley and Derek Carter voted no, and Jacob Sumpter did not cast a vote. The request will head to the City Council on April 8.
The commission heard from Terry Montesi, CEO of Fort Worth-based Trademark Property Co., which has been working for years to reimagine the shopping center off Interstate 30 at Collins Street. Trademark asked the commission to revert to a previous zoning for the property so the company could have more flexibility.
Montesi said that current market conditions preclude his company from moving forward at this time with previously outlined plans for a 200-room hotel and 355 apartments. Montesi also made a presentation to the City Council during its March 4 work session, outlining the revised plans for the property.
Montesi said that after his company acquired Lincoln Square, significant market changes forced Trademark to rethink possibilities.
“We were early in the process and we were told by the mayor and city manager to shoot big. Plan a dense development. Don’t worry about the market,” Montesi told commissioners. “Our purpose is to be extraordinary stewards, enhance communities and enrich lives. And we thought this was an awesome opportunity to do so in your community, which is 20 minutes from where I live.”
Trademark bought the 45-acre property in 2022 from ShopCore Properties, an affiliate of Blackstone Inc.
Last year, Trademark revealed details about its plans to transform the 40-year-old shopping center into a development called Anthem.
“Based on changes in interest rates, construction prices, market, and on market rents, that original project that we shot for the moon is just not financially feasible based on our discussions with the city and the capital markets,” Montesi said.
Those market conditions dictated Trademark’s request to revert to the previous zoning, but leaving open the possibility of coming back should market conditions make a new hotel and apartments feasible.
“The quality and the details remain as they were negotiated in the prior zoning, and the (planned development) provides an immense amount of quality control. Anything we develop under the proposed (planned development) would be unrecognizable in comparison with what’s there today,” Montesi said. “We’ve guaranteed a central public space consistent with the (Universal Development Code) criteria, and this is what our plan was in the original zoning, and it hasn’t changed at all. This is what we do. This is why we were brought to the project.”
The new Anthem will be a total departure from the existing Lincoln Square.
“If you’re thinking that if we do a redevelopment, it’s going to look anything like Lincoln Square looks today, it’s just there’s no history, there’s no support,” Montesi said.
He said that the zoning has proposed guarantees that are a material improvement in quality over what is there.
“Our vision is elevated retailers and restaurants, great sidewalks, a public space,” Montesi said. “A mix of uses that we’re guaranteeing you in a redevelopment — public art, artists and signage that you’ve seen — and with all that, Anthem will be of substantial benefit to the city.”
Commissioner Paige Payne asked Montesi about the timeline for the project.
“As of right now, we’re negotiating with a big tenant that would enable us to start. We would close at year end,” Montesi said. He said that demolition would occur during 2026 and the company would do all the construction drawings and permitting next year, too.
Montesi said ground-up construction probably would begin in late 2026.
Trademark is a property company in Tarrant County with several active projects, including the estimated $115 million expansion of the WestBend mixed-use development in Fort Worth that includes a seven-story mid-rise apartment with 300 units and 4,500 square feet of commercial space fronting on University Drive.
The company also recently topped out construction on the $82 million Vickery development in Fort Worth’s Near Southside neighborhood that features green space, apartments, townhomes and a rooftop bar and restaurant. That development is expected to open in spring 2026.
Trademark also developed Alliance Town Center in north Fort Worth.
The commission also voted 5-3 in favor of an alternate signage plan for Anthem, including a new 60-foot sign visible above Interstate 30. Commissioners Payne, Carter and Linda Finley voted no.
This story has been corrected to reflect the correct voting outcome for Anthem’s alternate signage plan.
Lance Murray is a freelance contributor covering business for the Arlington Report.
This article first appeared on Arlington Report and is republished here under a Creative Commons license.
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