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ARLINGTON (CBSDFW.COM) – In just a couple of years, fans leaving Globe Life Park in Arlington will be able to wander across the street and enter into what is described as a bright and inviting entertainment district.

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Mayor Jeff Williams and Texas Rangers executive vice president of business operations Rob Matwick joined Wednesday for a news conference to formally announce and give details about the $200 million project to be called Texas Live!

On Tuesday night, the Arlington City Council unanimously approved the project. It will include a 100,000 square foot dining and entertainment area near Globe Life Park.

The new entertainment district will be located just south of ballpark, and will have an entertainment area, shops, restaurants, a 300-room hotel and 35,000 square feet of meeting and conference space. During the Wednesday morning news conference, Rangers announcer Chuck Morgan called it, “The next step to the Arlington entertainment district.”

The design of Texas Live! will be based on similar areas found in Baltimore, St. Louis, Kansas City and other U.S. cities.

The goal is to offer free public events for the community and create an energy in Arlington even when the Rangers are not playing at home.

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There will be no new debt or taxes for Arlington residents. The city will use natural gas revenues to invest $50 million toward the project. The other $150 million will come from private sector investment.

In return, the revenue generated from the Texas Live! district will go back into Arlington neighborhoods. That is estimated to be about $100 million each year. Williams said, “This is going to strengthen the region. This is going to draw more tourists to North Texas.”

Williams also said that 1,800 new jobs will be created as a result of this development project.

Construction on Texas Live! is expected to move quickly beginning in 2016, with the complex opening just 12 months later. It will be built on what is now a parking lot, near the corner of Randol Mill Road and Nolan Ryan Expressway. In a news release, Rangers co-chairman Ray Davis said, “Commercial development around Globe Life Park in Arlington has been a vision of the Rangers for a number of years. This first-class entertainment complex will be a tremendous addition to the area.”

“Texas Live! is a game-changer,” added Williams on Wednesday. “This is the center of the Metroplex. It is the center of North Texas.”

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