The Texas Rangers And The Cordish Companies Announce the Groundbreaking Of Expanded $250 Million First Phase Of Texas Live!

New plans for Texas Live! include doubling the square footage of premier dining and entertainment space, as well as developing an upscale, full-service 300-room convention hotel and a 35,000 square foot meeting/convention facility in the first phase, expanding the total square footage to over 500,000 square feet of development.  The hotel/convention facility will feature a leading brand and management team that will be announced at a later date.  With this expanded vision, the total investment in the first phase of Texas Live! will increase approximately $50 million to a total of $250 million. Additionally, this expanded vision of Texas Live! will allow the City to host more and larger major events and conventions. The project will draw over 3 million visitors a year to the City of Arlington which already welcomes 14 million annual visitors. The dining and entertainment portion of Texas Live! will open in the Spring of 2018 with Opening Day and the hotel/convention facility will open in the Fall of 2018. 

"We are honored to join our development partners, the Rangers, Mayor Jeff Williams, and Commissioner Rob Manfred today to announce the groundbreaking, three major anchor venues and a broader vision for Texas Live!," stated Blake Cordish, Vice President of The Cordish Companies. "The Rangers and Cordish are excited to increase our investment and plans for Texas Live! and are committed to developing a world-class project that will establish Arlington as the country's capital of sports, entertainment and culture for decades to come. We look forward to breaking ground in November, immediately following what we hope to be a deep, successful postseason run for the Rangers."

THREE VENUES TO ANCHOR DISTRICT

Texas Live! will feature 200,000 square feet of best-in-class local, regional and national dining and entertainment. We are proud to announce the first three major anchor venues: Rangers Republic, Live! Arena and Arlington Backyard. 

Rangers Republic will be the "ultimate fan clubhouse" for Rangers fans during home games, away games and all year-round. A celebration of the Rangers heritage past, present and future, Rangers Republic will be a two-level, 30,000 square foot, family-friendly dining and entertainment venue that will allow fans unprecedented access to the Texas Rangers. Rangers Republic will feature:

• One-of-a-kind fan experiences
• Live broadcasts and media events
• Manager pep talks and player visits
• Unparalleled sports viewing
• Real time team and player statistics and data
• Authentic memorabilia and history
• Commissioned pieces of art from local artists that celebrate great moments in Rangers history
• Variety of authentic dining options
• Interactive games for the entire family

Live! Arena, the heartbeat of Texas Live!, is a multi-level, central gathering place comprised of over 35,000 square feet of best-in-class dining and entertainment options. Designed by internationally-acclaimed Jeffrey Beers International, Live! Arena will be the "living room" of Texas Live!, providing fans with one of the best sports viewing experiences imaginable and will be the ultimate place to celebrate the Rangers and all Texas sports. Live! Arena will feature: 

• A state-of-the-art, interactive AV presentation that includes a 100' LED screen as the centerpiece
• A two-story, retractable glass façade that flows into a 10,000 square foot outdoor beer garden
• Market-style food vendors celebrating the best of Texas cuisine
• A performance stage for concerts
• An LED ribbon board that surrounds the venue

Arlington Backyard, a 5,000-capacity outdoor event pavilion will become the "backyard" of Texas Live! An embodiment of the Rangers spirit, Arlington Backyard will be covered by a permanent roof and will be a fun, casual place to gather for all different types of events throughout the year.  Arlington Backyard will host over 250 annual events including cultural activities, art shows, regional and national concerts, charitable functions and community events.  Arlington Backyard will also serve as the launching point for major festivals throughout the entire district. With the ability to expand to accommodate up to 7,000 guests, Arlington Backyard will be an incredible amenity and gathering place for the community, fans and visitors.  

BROADER VISION OF TEXAS LIVE! INCLUDING PRESERVATION OF GLOBE LIFE PARK

Texas Live! will be a major economic engine to the local community. The $250 million first phase of Texas Live! is part of a greater $4 billion vision of the Arlington stadium district that includes additional phases of Texas Live!, the new Rangers Ballpark and the preservation and repurposing of Globe Life Park. The partnership announced plans to preserve the iconic exterior façade of Globe Life Park and explore options to repurpose the venue. While solutions are still being discussed and developed, initial ideas include transforming Globe Life Park into one of the premier entertainment, retail, office and festival sites in the United States. Texas Live! is projected to significantly exceed $100 million per year of economic input to the City of Arlington and Tarrant County and over $2 billion in direct and indirect salaries during its first forty years.

"It is the Rangers' intent to preserve the beautiful exterior façade of Globe Life Park," stated Rangers Co-Chairman Ray Davis.  "We've been working closely with The Cordish Companies to find ways to repurpose the building. The Centerfield Office Building is at capacity with tenants and we hope those companies will remain. Our existing retail store and the Hall of Fame space can both be used as retail spaces to support the development on the south side of Randol Mill Road."

Davis continued, "As plans for the new ballpark development evolve, we believe the interior of the ballpark could be refitted for another purpose while still providing options for additional development. We don't need to have all of these answers today; we can develop the solutions while still maintaining the aesthetic and character of this beautiful building."

MODEL PROJECT THAT WILL MAXIMIZE COMMUNITY BENEFITS

The Texas Rangers and The Cordish Companies are committed to being a model project that will create maximum community benefits to the City of Arlington and its residents. The partnership has committed to an unprecedented Community Benefits Plan that includes: 

• New Job Creation: 3,025 new jobs: 2,000 construction and 1,025 permanent
• 25% MWBE Goal for the construction of the project
• Apprenticeships: Assist qualified local minority and women workers with apprenticeships to enter the region's pool of skilled labor by promoting apprenticeship opportunities during construction
• Local and Diverse Workforce Hiring: Implement recruitment training and employment policies to achieve a diverse workforce at all levels of its organization
• Community Event Bookings: Assist the City in the event bookings of College Park Center at the University of Texas at Arlington, as well as hosting community events year-round, many of which will be free to the public or in partnership with local charities
• Creation of a Community Advisory Committee: Establish a committee consisting of representatives from the City, community and civic organizations, and college/universities to provide advice and assistance with the implementation of the Texas Live! Community Benefits Plan

"Arlington is incredibly fortunate to have world-class partners in the Texas Rangers and The Cordish Companies who are committed to improving our community," stated Mayor Jeff Williams. "We are thrilled to announce the groundbreaking of Texas Live! exactly as promised and share details about three amazing anchor venues. The expanded vision and investment by the Rangers and Cordish in Texas Live! is nothing short of spectacular and, coupled with the new jobs and economic benefits, will be a game changer for Arlington and its residents."

For more information, please visit www.texas-live.com.

About the Texas Rangers
Now in their 45^th season in Arlington, the Texas Rangers play in Major League Baseball's American League West Division. Entering the 2016 season, the Rangers own six A.L. West Division titles (1996; 1998; 1999; 2010; 2011; 2015) and advanced to postseason play in four of the last six seasons. Including 2016, Texas has won at least 87 games in seven of the last eight years beginning 2009, the only Major League team to make that claim. A community leader, the Rangers, through the work of their Baseball Foundation, are dedicated to improving the lives of children in need and providing funding for youth in crisis, youth health initiatives, youth baseball programs, and youth education. Celebrating its 25th year, the Foundation has given back more than $14 million to help children in need.

About The Cordish Companies
The Cordish Companies' origins date back to 1910 and encompass four generations of privately-held, family ownership. During the past ten decades, The Cordish Companies has grown into a global leader in Real Estate Development, Gaming & Hospitality, Entertainment Management and International Urban Planning & Development. One of the largest and most respected developers in the world, The Cordish Companies has been awarded an unprecedented seven Urban Land Institute Awards for Excellence for public-private developments that are of unique significance to the cities in which they are located. Prime examples are The Cordish Companies' prominent role in the redevelopment of Baltimore's world famous Inner Harbor; Philadelphia, PA; Atlantic City, NJ; Charleston, SC; Houston, TX; Louisville, KY; Kansas City, MO and St. Louis, MO. In addition, The Cordish Companies has developed and operates multiple highly acclaimed entertainment destinations throughout the United States which welcome over 50 million visitors per year and are the most visited destinations in their respective regions. Over the generations, The Cordish Companies has remained true to the family's core values of quality, entrepreneurial spirit, long-term personal relationships and integrity. As a testimony to the long-term vision of its family leadership, The Cordish Companies still owns and manages virtually every business it has created. For more information visit www.cordish.com or follow us on Twitter.

"The Cordish Companies," "The Cordish Company" and "Cordish" are trademarks used under license by independent corporations, legal liability companies and partnerships ("Cordish Entities"). Each Cordish Entity is a separate, single-purpose legal entity that is solely responsible for its obligations and liabilities. No common operations or financial interdependency, and no intermingling of assets or liabilities of the Cordish Entities exists, or should be deemed to exist, as a result of the potential common reference to multiple independent entities operating under the names "Cordish," "The Cordish Companies" or "The Cordish Company" here or elsewhere.

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