Page 40 - CityofArlingtonFY26AdoptedBudget

Business Plan

Grow Our Economy

Forge Local Business Community
Project Performance Measure(s) Department(s)
Ben Thanh Plaza Improvement Project • Recruitment Leads Economic Development Services and
• Leads to Prospects Economic Development Corporation

Summary: Percent
Ben Thanh Plaza will soon see several enhancements, Milestone Target Date Complete
thanks to a strategic partnership between HKT Agreement Finalization Apr. 2025 100%
Management, who manages Ben Thanh Plaza, the City Design and Permitting
of Arlington and the Arlington Economic Development Completion
Corporation (EDC). The goal of these improvements is Begin Site
to enhance tourism, improve the International Corridor Improvements
and foster a thriving, community-focused environment Central Plaza &
in the shopping center, which encompasses 13.1 acres Infrastructure
and houses around 50 stores and over a dozen dining Construction
options. Commercial Building
Construction
Through the agreement, HKT Management will make Project Completion & 2 Qtr. FY 2027
nd
property improvements including: Public Launch

• Resurfacing the parking lots
• Constructing an outdoor central plaza for
food trucks and events
• Improving landscaping
• Refreshing the interior and exterior of
buildings in Ben Thanh Plaza

HKT Management will also construct a new 15,000-
square-foot commercial building.

This redevelopment effort aligns with the City’s
International Corridor Visioning Effort, which
establishes recommendations to guide improvements in
the area, including lighting and walkability, enhancing
aesthetics and identity and building community
capacity.

In exchange for these improvements with a minimum
capital improvement expenditure of $3.6 million the
Arlington EDC will reimburse up to $1.6 million for the
costs of constructing infrastructure. The Owner will be
required to complete all improvements within 21 months
of signing the agreement and to maintain the property’s
aesthetic appearance and cleanliness throughout the
term of the agreement.

FY 2026 Proposed Budget and Business Plan 34 City of Arlington, Texas