The long-awaited redevelopment of Lincoln Square near the Entertainment District is one step closer after the Arlington City Council unanimously approved a new development agreement and public improvement tax district for the shopping center Tuesday night.
City Manager Trey Yelverton told the council that the redevelopment of the north Arlington shopping center, which has been rebranded as Anthem, fits with the city’s wider economic development goals and helps the center meet the standards of the surrounding area.
“What we need to do is make sure Lincoln Square is not dragging the neighborhood down, and that we don’t let that become some kind of problem for us in the future, but we lift everything in that area up,” Yelverton said during the Feb. 24 council meeting.
Public discussions around the redevelopment first began in 2022 when Trademark Property Company, a Fort Worth-based development company, bought the shopping center and agreed terms for a city grant amounting to $15 million in exchange for a 30-year, $150 million investment.
According to Yelverton, the city supplied $14.25 million to help Trademark buy the property.
Lincoln Square, which is being rebranded as Anthem, will see a multimillion dollar redevelopment over the next four years. (Chris Moss | Arlington Report)
Over the past three years, the proposed development of Lincoln Square was revised multiple times. In 2024 and 2025, amendments to the master plan of the development saw proposed hotels and multifamily apartments fall to the wayside due to what Trademark officials said were market conditions.
The current plan includes fewer retail spaces, which Yelverton said will raise the rents for the remaining spaces, restaurants and open space.
The new incentive agreement between the Arlington Economic Development Corporation and Trademark stipulates that the corporation will supply an approximately $24 million grant to be used for “public infrastructure needs.”
In return, Trademark will need to submit its final plans to the city manager by June 30, begin construction by Sept. 30 and complete and invest $100 million into the property by 2030.
Roughly $53 million of that investment was made when Trademark bought the property, including the $14.25 million grant from the city.
To meet the mixed-use function of Anthem, the corporation will consider spending $3.4 million to purchase office space in the future, Yelverton said.
The new incentives were approved alongside a public improvement district.
The district spans the entirety of Lincoln Square and will begin levying a fluctuating tax in 2028. The resolution creating the district requires that the tax levied has to be less than $.80 per $100 of taxable value.
The funds raised by those taxes will be used for things such as maintenance and beautification, as well as security, marketing and third-party property management services.
The properties encompassed by the district, which will last for a 28-year term, are all currently owned by Trademark.
Lincoln Square, which is being rebranded as Anthem, will see a multimillion dollar redevelopment over the next four years. (Chris Moss | Arlington Report)
Yelverton told the Arlington Report that the district was spurred by the investment of taxpayer money into Anthem. With the district in place, the developers will have to show the work they are putting into the redevelopment.
“They’ll have to come each year and show us their budget, expenses, income, and we’ll be able to make sure that all of those properties are being taken care of,” Yelverton said.
Yelverton told council members that the final design package for Anthem will be on the agenda during the summer.
Chris Moss is a reporter for the Arlington Report. Contact him at chris.moss@arlingtonreport.org.
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