The demolition of the old Festival Marketplace paves the way for $66 million in new development.

Phase I of the new Pioneer 360 Business Park includes the construction of 1.3 million square-feet of office and warehouse space at an estimated $55 million. Phase II will include an estimated $10 million in redevelopment of the old Montgomery Ward site. The Pioneer 360 Business Park project is expected to create about 350 new jobs.

The Festival Marketplace is also known as Forum 303 Mall, which was built in 1970. It became the Festival marketplace in 1988 and closed in 2006.

The City’s Champion Arlington strategy supports development through tax incentives and abatements. The City of Arlington provided $3 million in incentives including a 75 percent tax abatement on new added value over a 10 year-period. They City also provided assistance with infrastructure improvements and fee waivers.

For more information about the new Pioneer 360 Business Park, call Economic Development Manager Robert Sturns at 817-459-6114 or e-mail him at Robert.Sturns@arlingtontx.gov.