The May 15 deadline to identify the businesses coming to the proposed $500 million former Texas Instruments site project in Stafford has been delayed a month.
When the city approved the plan 6-1 last month, there was a final push by the mayor to learn the names of the companies coming which would attract more dollars and visitors to the city. Steve Robinson, attorney and spokesman for the developers, said at their April meeting that they would deliver the information by May 15. He noted that the secrecy is important in a competitive environment.
“There are other sites along (U.S. Highway) 59 who would like to know who we are talking with. We don’t want that to be part of the public record until we have a sufficient number and commitments. We don’t think it’s in your best interest to have them stolen or someone comes along and negotiates with them,” said Robinson.
There were plans to have a big public relations roll out this week, but on Monday developer Brian Murphy told the Fort Bend Star there were delays with signing the leases and with the upcoming holiday and the looming Global Retail Real Estate Convention – the world’s largest international shopping center convention in Las Vegas – happening May 20-23, there was not enough time.
“It was too much, too quick so we’ll move it to June, possibly mid-June,” Murphy said.
For the last six years, the city has been exploring what to do with the 192 acres of the former Texas Instruments campus bounded by the U.S. Highway 59, West Airport Boulevard and FM 1092/Murphy Road.
Street Level Investments developers have a $500 million proposal for the property that they say could become a regional attraction for Stafford with shops, a central park, restaurants, high-end apartments, food halls with artisan chefs and a hotel. About $500,000 from the hotel tax will be used for advertising to generate tourism and attract more money to the area.
They have created partnerships with the Stafford Economic Development Corporation, Fort Bend County and Stafford.
Patti Worfe, Executive Director of the Stafford Economic Development (SEDC) said she is not concerned about the delay. She expects the tenant reveal to occur on the site in June.