Wolford began applying for approval of the yet-to-be-named development at the corner of I 35 and 13th Street in 2000. "It's been a struggle," he says. "A smart-growth group raised many objections," all of which were overcome this November through ongoing negotiations.

The estimated construction cost for the open-air section of the center is $50 million, and the power center across the street will cost an estimated $22 million, according to Wolford. Groundbreaking is set for early 2006, and completion is anticipated in fall 2008.

"We have been closely monitoring the progress of Bucky Wolford's efforts to obtain approval from the City of Ames for this development," said William Dillard II, chairman and CEO of Little Rock, AK-based Dillard's Inc., in a statement. "With the recent approval by the Ames city council of the rezoning of the property, we became convinced that Ames welcomed new business to the city and it was appropriate for us to make our announcement. Through past experience, we have confidence in Bucky Wolford and know this will be a first-class center and a real asset to the entire community and surrounding trade area."

Wolford says, "Dillard's entry as a new retailer to the market will serve as a catalyst for other(s). . . . Numerous retailers not now in the Ames market have contacted me expressing an interest in the project." He declined to name any, saying, "we'll let them make the announcements."

Wolford founded the company that bears his name in 1999, following expiration of his non-compete agreement with CBL, also based in Chattanooga, which he helped form. He resigned from CBL in 1997.

Since its inception, the new company he founded has completed the Wal-Mart-anchored, 400,000-sf Oak Park Town Center in Chattanooga; the Target-anchored, 250,000-sf Town Center North nearby, and the Wal-Mart-anchored, nearly 300,000-sf Coosa Town Center in Gadsden, AL, which opened this July. In addition to its development in Ames, Wolford will break ground for a 700,000-sf center in Lake Havasu City, AZ in first-quarter 2006 and plans to also put down stakes in Calispell, MT.

"I like markets that are growing –places that I think retailers want to go," he tells GSR, acknowledging these are also areas in which there's little current competition. "I stay under the radar screen," he adds, and "hope to keep a captive market for 30 years. At least that's my plan." Dillard's operates 329 stores across 29 states. It has five units in Iowa. The Ames unit will be in the open-air, lifestyle component of the Wolford development, which calls for "a variety of eye-catching architectural elements and possibly a decorative water feature," according to Dillard's statement.