Texas Rangers Ballpark Project
Big changes are on the way for Arlington ’ s world-class Entertainment District . The Texas Rangers and its development partner , The Cordish Companies , plan to break ground on the new Texas Live ! Entertainment Development Complex in early 2017 . But that won ’ t be the only major construction project under way . The Rangers will also break ground in 2017 on a new ballpark , set to open in 2020 adjacent to Texas Live ! Dreams get done in Arlington .
New Ballpark Extends Rangers Partnership Through 2054
Last November , Arlington residents overwhelmingly voted to approve extending existing venue taxes to help build the Texas Rangers a new retractable roof ballpark .
Construction is expected to start this summer on the estimated $ 1-billion climate-controlled stadium , which is being built as a public-private partnership between the City of Arlington and the team . The ballpark is expected to open just south of Arlington ‘ s Globe Life Park in 2020 .
The Texas Rangers ’ 30-year lease on the City-owned Globe Life Park was set to end in 2024 . But with a new voter-approved ballpark and a master agreement with the team approved by City Council last May , the Rangers ’ partnership with Arlington now extends through January 1 , 2054 .
Sixty percent of residents voted
November 8 , 2016 , to help publicly finance the project by extending existing venue taxes approved in 2004 to build AT & T Stadium for the Dallas Cowboys . These taxes – a half-cent sales tax , a 5 percent car rental tax and a 2 percent hotel occupancy tax – will help pay off the City ’ s contribution to the ballpark project .
While designs and costs have not been finalized , the new ballpark and related infrastructure are estimated at $ 1 billion . The master agreement for this public-private partnership calls for a 50-50 split between the Texas Rangers and the City of Arlington , with the City ’ s financial contribution capped at $ 500 million .
In addition to venue taxes , the City ’ s ballpark bonds will be repaid using the $ 2 million in ballpark rent paid by the team annually .
Early conceptual rendering of the future Texas Rangers ballpark , set to open in 2020 .
Texas Live ! Development to Bring Restaurants , Shops
Baseball and football fans hungry for extra entertainment , shopping and dining options won ’ t have far to travel once Texas Live ! opens .
In December 2015 , the Arlington City Council approved a public-private partnership with the Texas Rangers to create the entertainment complex near the future ballpark and AT & T Stadium . The first phase of the project , set to open in 2018 , will feature best-in-class restaurants , retail and entertainment venues , along with a signature event space for up to 5,000 people . A 300- room upscale hotel with 35,000 square feet of convention space is also expected to open later that year .
The Cordish Companies , an award-winning development firm with expertise in mixed-use , entertainment and sports developments , is the Rangers ’ development partner on Texas Live !
As part of a public-private partnership , the City of Arlington plans to contribute $ 50 million in natural gas revenue toward the Texas Live ! project . If project milestones are met , the City is also prepared to provide performancebased incentives that include allowing the team to retain income from the following sources : hotel occupancy tax , property tax , sales tax and mixedbeverage tax for 30 years from the City and hotel occupancy tax and sales tax from the state for 10 years .
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