ROCKWALL, TX-St. Ives Realty Inc. has jump-started work on an 88-acre development, the last undeveloped corner at the crosshairs of a “Main and Main” Interstate 30 intersection. The Dallas-based developer has reserved 18 acres for townhouse construction, 20 acres for conservation easements and the 50-acre balance for retail.

St. Ives, an affiliate of Bridge Realty Partners Inc., is bound by a confidentiality agreement so its executives won’t disclose the anchor for Rockwall Corners. However, Issaquah, WA-based Costco Wholesale Corp. has received the city’s nod for a 153,000-sf store on 20.2 of the 50 retail-designated acres at the interstate’s junction with Texas 205, which is under construction to make the local road into eight lanes and the I-30 overpass into six lanes. St. Ives’ plan is to divvy the rest of the retail land into five pad sites, including a two-acre tract for an 18,000-sf strip of inline space.

Dale Bryant, the developer’s leasing point man, tells that he will be starting talks this week with retailers who quickly jumped onto the project’s waiting list as word hit the street. Meanwhile, he says talks are under way with two multifamily developers who are jockeying for that land.

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