CASE STUDY: University Park Village

Fort Worth, Texas

We transformed a small failing community center into University Park Village, a 172,000 square foot upscale specialty center in the heart of Forth Worth’s affluent suburbs.  The dramatic transformation included the creation of a village environment along with a complete remerchandising that resulted in a top-tier national tenant roster.

The Opportunity

University Park Village originally opened in 1995 with 47,000 square feet of traditional community center retail.  It was out of place in the upscale suburbs of Fort Worth which demanded a greater level of retail sophistication.  Many of the area’s residents were traveling more than 30 miles to shop at fashion centers in Dallas.

The Vision

We saw an opportunity to transform this lifeless center into a larger, more vibrant specialty center that would deliver the exciting national retail desired by local residents.  We quickly devised a plan to triple the size of the center by purchasing an adjacent parcel of land.  We also planned to utilize distinctive architecture and landscaping to deliver a true southwestern village feel.  We wanted to reclaim local shoppers and draw others from the surrounding region.

The Challenges

In 1995, many prominent national retailers were uncertain about retail center formats that were not enclosed malls.  Also, while affluent, the Fort Worth suburbs remained an untested market for many of these higher end retail concepts.

The Result

We leveraged our strong national retailer relationships and to successfully tenant a revitalized University Park Village with Williams-Sonoma, Ann Taylor, Banana Republic, Pottery Barn, Barnes & Noble and Gap.  Local residents from the community and surrounding areas embraced the new center with its distinctive atmosphere and impressive merchandising mix.  More than 10 years later, it continues to be a dominant force in the Fort Worth area.