While Jerry Jones' stadium/temple continues to rise up from the Arlington, Texas, landscape over by Interstate 30 between Dallas and Fort Worth, Tom Hicks' planned $500 million Glorypark development for the same neighborhood has been put on hold. The reason: according to the Dallas Morning News, it's the uncertainty of the financial markets.

Hicks owns the Texas Rangers, who also play in the same neighborhood as Jerry Jones' Cowboys Stadium under construction -- which will be the home of an annual Arkansas-Texas A&M shootout every season starting in 2009 -- as well as the Dallas Stars, who play at American Airlines Center. Glorypark, a 1.2 million square-foot mixed-use development, was scheduled to open in March 2010. Hicks said that Hicks Holdings had been unable to secure financing because of the shaky real estate and money markets. He told the DMN:

"We're in the most difficult credit crunch I've seen the last 20 years," Hicks said.

Also, according to the report, co-developer Steiner + Associates was unable to get a firm commitment from an anchor tenant after months of negotiating with Dillard's department stores, Hicks said.

Just a week ago, developer Ross Perot Jr. confirmed that his Hillwood firm has delayed construction of the 43-story Mandarin Oriental hotel and condo tower in Dallas' Victory project. Perot said the decision not to go forward with the project was due in part to the challenging financial markets. Hicks is also a partner in the overall Victory development.

Glorypark was scheduled to break ground this spring adjacent to THe Rangers Ballpark in Arlington and just a Tony Romo deep pass or two from Jones' $1.1 billion football stadium for his Cowboys. It would have included restaurants, retail, office space and
residential, and has been delayed at least twice previously. Plans call for the project to be built on the parking lots to the south and west of the Rangers Ballpark in Arlington.

Just as long as Jerry's World is finished by September 2009, we'll be happy.