When Texas Instruments announced it would be moving from its long-standing headquarters in Stafford to a new facility in Sugar Land in 2012, officials with the city of Stafford launched a discussion about a redevelopment plan for the complex along Hwy. 59.

"One of the most enticing subjects in and around Stafford is the ultimate redevelopment of the iconic 192-acre Texas Instruments tract," Stafford Mayor Leonard Scarcella said.

Texas Instruments plans to continue creating microchips at the Stafford site into 2016 but has been selling off the land to Dallas-based Street Level Investments for more than two years.

"City officials will be endeavoring to work with [Street Level] to bring about a highly desirable development, which will materially influence the future of our city," Scarcella said.

Preliminary plans for the mixed-use development—The Legacy of Stafford—have been released by Street Level Investments, which has been working with Stafford for more than a year.

"Our mission here is to create an evergreen, long-lasting development for Stafford," said Dan Watson, principal with Street Level Investments. "This [development] will be the gateway to Fort Bend County."

Construction of The Legacy of Stafford could begin in late 2015 and will blend together housing, commercial and industrial services. The project will house light industrial developments on the east side, a retail corridor along Murphy Road and 60 acres of multifamily housing and mixed-use retail in the center. In addition, an outlet mall with more than 400,000 square feet of space is planned for the west portion of the development.

"[This project] has the components to attract not only the retail growth but residential and cultural developments as well," said Jeff Wiley, president of the Fort Bend Economic Development Council.

The project will also provide new green space, Watson said. The northern portion of the site will feature a town center with two hotels, office space, restaurants and "Stafford Green"—a public space where visitors can gather.

Texas Instruments is expected to remain in 30,000 square feet of the tract through the end of next year as the transition to Sugar Land progresses. The company has finished work on the 160,000-square-foot Sugar Land campus along University Boulevard at Hwy. 59, and the company has begun to relocate.

"The new Texas Instruments facility will house employees that work in a variety of areas in our embedded processing business," said Whitney Jodry, media relations and corporate communications manager for TI. "[The company] chose this location for its research and development facility after a regional search based on proximity to employees' homes and local amenities."

The Sugar Land campus includes an outdoor courtyard, basketball and volleyball courts, a fitness center and walking path. The campus will initially employ 375 people and has the capacity to grow to 425 employees, Jodry said.

Known as the valve capital of the world, Stafford has about 35 acres of green space, several large companies and a population of about 18,000 residents. The city has had no property tax since 1995.