Iron moves on Glade Parks Euless

EULESS, TARRANT COUNTY – Iron Point Partners has taken control of the Glade Parks development along Texas 121 and plans to complete the 193-acre residential and retail project between Glade Rd. and Sparger Rd.

The project is not expected to change much from the original plans, which included 129 single-family homes, said Betsy Deck, a Euless spokeswoman.

The city has spent $5 million on infrastructure at Glade Parks and will begin building another road and a bridge this year.

Iron Point, a Washington, D.C.-based real estate equity fund, will partner with North Rock Real Estate, a Minnesota developer. Rubloff Development Group was the original developer.

A Rubloff Development subsidiary, Glade 121 L.P., began buying land for Glade Parks in 2005 but did not start the development for years. Only two restaurants, Raising Cane’s and Rosa’s Cafe, have been built.

In December 2011, Rubloff sold 17 acres on Heritage Ave. to JLB Partners, which built 417 urban lofts in 16 buildings that opened in March 2013.