The Fort Worth IKEA store announced back in February isn't the only development being planned for the area off Interstate 35 and U.S. Highway 287.
Developer NTP 35 is planning a full-scale, mixed-use project that includes at least 75,000 square feet of Class A office space, 48,000 square feet of restaurant space, and 66,000 square feet of retail/commercial space -- all with the 289,000-square-foot IKEA store as the anchor.
The developer is requesting incentives from the City of Fort Worth, worth up to $18 million, which will be received within a 15-year period. To qualify, the developer must invest at least $100 million in the project and employ at least 350 full-time employees on the property, among other stipulations.
The Fort Worth City Council is scheduled to vote on the incentive package on June 6.
The Fort Worth IKEA will be the Swedish home furnishing company's third store in the Dallas-Fort Worth area and sixth in Texas. Construction is expected to begin spring 2018, with an opening planned for summer 2019. The store will have about 10,000 items designed exclusively for IKEA, 50 room settings and three model home interiors, along with other features like a supervised play area for children. Additionally, the store will feature a 325-seat restaurant serving Swedish dishes like meatballs with lingonberries and salmon plates, along with American food. According to a news release, IKEA expects to create 500 jobs during construction and 250 jobs in the store when it opens.
IKEA is also building a Grand Prairie store, expected to open fall 2017.