Arlington Voters Could Decide On New Rangers Ballpark
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ARLINGTON (CBSDFW.COM) - The City of Arlington could move one step closer Tuesday to building a new home for the Texas Rangers. The city council is set to decide whether or not to hold a special election on November 8 for voters to decide on the construction of a new ballpark.
When the current Rangers home opened in 1994, it was built for about $190 million. But now, at 22 years old, city officials are ready to retire Globe Life Park, and their vision for the future is much more expensive. The project is estimated to cost around $1 billion.
Plans for the new ballpark include a retractable roof and climate control.
The team would pay for half of the new stadium's cost. Taxpayers would pick up the remaining $500 million through existing sales tax revenue. The venue taxes were approved in 2004 to help finance the construction of AT&T Stadium, the new home of the Dallas Cowboys. Voters in November would be asked whether that existing tax should be extended to publicly finance new ballpark construction as well.
Council members have already unanimously voiced their support for the plan to upgrade Globe Life Park. While many people still like the classic look of the current Rangers home, the city is thinking about the economic impact that a new complex could generate -- $2.53 billion over the next 38 years.
The plans also call for a new $200 million entertainment district called Texas Live, situated right in between the Rangers and Cowboys stadiums. It would include restaurants, retail stores and a hotel. The project would not be likely to open for business any earlier than 2021.
