Richardson's $500M massive project next door to State FarmRichardson's $500M massive project next door to State Farmhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=16882015-02-19T10:35:00Z2015-02-19T10:00:00Z

RICHARDSON - Developers are kicking off construction on a $500 million mixed-use project that — combined with the $1.5 billion CityLine next door that includes State Farm Insurance’s new campus — will add thousands of jobs and a flood of residents along N. Central Expy.

The two projects are separated by DART’s commuter rail line and station at Bush Turnpike. They will be connected by new roads and walkways.

Trammell Crow Residential will start construction next month on the first phase of a 1,250-unit apartment development west of the DART station.

The first phase includes 351 apartments in a five-story building with ground-floor retail and a parking garage. Its new Alexan CityLine project in Richardson will include about 10,000 sf of retail space. The first phase is scheduled for completion in summer 2016.

The developer plans to begin a second phase to the apartments in about six months, said Crow Residential’s Steve Bancroft.

BC Station Partners also has sold a development site at the northeast corner of North Central and Renner Rd. to Transwestern, which is planning to construct a 450,000-sf office tower and a hotel on the property.

BC Station Partners is keeping a high-rise office campus location at the corner of Central and Bush Turnpike for future construction.

Based on zoning the developers received last year from the City of Richardson, more than 1.3 million sf of office space can be built on the property. That’s almost as much space as State Farm Insurance is constructing next door.

Together, the CityLine and BC Station projects represent one of the largest commercial real estate developments underway in North Texas.

Dallas Morning News
Dallas-Fort Worth-Arlington
http://www.dallasnews.com/business/commercial-real-estate/headlines/20150218-richardson-is-getting-massive-development-next-door-to-state-farm1.eceRead more at {Source}

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