Cesar Viramontes, the landowner behind the El Cruzero SmartCode project on El Paso's far east side, has cancelled the development and will soon sell the 220+ acres of land to River Oaks Properties. That's according to an article at the El Paso Inc. website.
Viramontes first unveiled plans for the ambitious project two years ago and received incentives from both the City and County governments to help construction begin. The initial plans for El Cruzero showed a mixed use development with a town center "main street" near Montana Avenue. Though the project never broke ground, news was made in September of 2012 when Carmike Cinemas announced that a location was planned for the site. Anthony Properties of Dallas then purchased the theater site on Montana Avenue from Viramontes.
Now, according to the El Paso Inc. article, River Oaks will develop 50 acres of the property as Town Center on the Loop, a power center that will include big box retailers with surrounding homes. River Oaks will not disclose whether it will follow in Viramontes' footsteps and use SmartCode planning, but the developer has approached the City for possible incentives. This move usually indicates that a development will be different from the usual layout seen in shopping centers throughout the city.
Read the El Paso Inc. article: http://goo.gl/CIp8E
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