While the challenging interest rate environment across the country has left many developers and real estate investors on the sidelines, there is no lack of activity in Dallas-Fort Worth.
Whether companies are formally embarking on projects or preparing to take advantage of a more attractive capital market environment, several notable deals will move forward in the first quarter of 2024. did.
This is the backdrop for attention on what this year's downturn means for North Texas.
Below are some of the notable deals and transaction announcements from January 1st to March 31st of this year.
Lincoln Property Company secures land for Uptown project: A Dallas-based commercial real estate company has officially purchased four acres of land along Cedar Springs Road.
In total, the development will include 400,000 to 500,000 square feet of office space, approximately 250 luxury apartments, 200 major five-star hotels and residences, and 25,000 square feet of dining options.
Sands Casino owners acquire property once owned by Mark Cuban: The Las Vegas family that took control of the Dallas Mavericks also purchased more than a dozen acres of land on Stemmons Freeway at Inspiration Drive in Dallas' Design District from a Cuban-founded company.
Hillwood purchases 1,380 acres in Celina. A local company plans to build 4,000 homes on land in a community called Ramble. Additionally, 18 acres are set aside for apartments and 64 acres for commercial buildings and retail.
Larkspur Capital purchases Dallas Medical District site: The Dallas-based company plans to one day launch a mixed-use project on nine acres in the rapidly changing corridor.
Triumph Financial acquires office building for new headquarters: The fast-growing Dallas-based financial holding company will initially move just under 500 employees to the facility.
Crescent Fort Worth will grow with another office building: Crescent Real Estate plans to expand its Crescent Fort Worth development with a new eight-story office building along West 7th Street between Van Cliburn Way and Boland Street.
Crescent plans to open two ground-floor restaurants on the property and has already received interest in the space. The idea of incorporating private clubs is also being considered.
Arapahoe Station moves forward: Plans have been underway since 2021 for a new office building near DART's Silver Line station in Addison. VanTrust Real Estate is developing the project, and Thirty-Four Commercial is leasing the project.
Destiny greenlights $800 million project: Lafayette Crossing, located between Ben Payne Road and Crawford Avenue, will include 186 single-family homes, approximately 1,300 apartments, and approximately 900,000 square feet of commercial construction, among other developments. is proposed to be included.
Fields West is moving forward as follows: Construction is expected to begin later this year on two office buildings, along with retail and parking, at the Fields West development in Frisco.
Redoing the Energy Plaza will pave the way for other transformation projects. Todd Interests has converted a former downtown office building into new luxury rental housing and updated office space, now called The Sinclair.
Dallas companies help develop hotel and residential tower: Headington Co. and Pacific Elm Properties are collaborating on a 30-story residential and hotel skyscraper to be built across the street from downtown Dallas' landmark Fountain Place Tower. ing.
Two local companies are partnering to develop Castle Hills. Weitzman and JPI have formed a joint venture to develop the Lewisville site south of the Rayburn Toll Road with 760 apartments and retail space on land adjacent to Weitzman's existing Castle Hills Marketplace Center.
A new rental housing community is coming to town in Aubrey, Melissa: Legacy Partners is partnering with Los Angeles-based investor Resmark Cos. to build two single-family rental housing communities.
35-story residential project to be built along Pearl Street: Swiss investment management firm Empira Group plans to build a residential high-rise near the Plaza of the Americas in downtown Dallas.
Growing Walsh Community: Fort Worth's Walsh Communities will expand its Overlook Park and Lake Park neighborhoods this year as part of its next phase, adding 339 homesites.
Green Brick Properties and Hersh Family Investments join forces for the Celina community: Rainwater Crossing will bring approximately 2,000 residential lots to the rapidly growing Collin County city.
Luxury homes planned for Dallas' Lake Highlands: Stillwater Capital and Forester Group plan to build homes on 4.5 acres of vacant land along Walnut Hill Lane.
Trademark Property Co begins working with the Fort Worth rental community. The Fort Worth-based developer has begun construction on a 5-acre development intended to house 307 apartments and 14 townhomes, as well as a restaurant building.
Three BTR communities in progress: Chicago's CoreSpaces is introducing three build-to-rent communities in Frisco, Fort Worth and Rowlett.
Zale Properties plot The Grove at La Frontera: Earlier this year, the Dallas builder secured financing for a 396-unit mixed-use community at 8100 South Collins Street at Debbie Lane in Arlington.
Hines is applying for building permits for Victory Park high-rise buildings: The Houston-based developer's plans call for building 480 residential units and 835 parking spaces next to the One Victory Park office tower in Dallas.
Margaritaville Resort Based in $6 Billion Lake Texoma Community: The $100 million, 250-room property was incorporated into the 3,100-acre Preston Harbor community.
$220 million music venue under construction in McKinney: Notes Live and the City of McKinney plan to begin construction on a luxury outdoor amphitheater later this year.
Las Colinas Hotel Completes Rebrand to Ritz-Carlton: The 400-acre hotel and resort near Carpenter Freeway in Irving, formerly a Four Seasons resort, has officially changed its flag.
Loews Arlington Hotel opens. Lowe's latest addition to Arlington's entertainment district includes a restaurant, a man-made beach and the largest ballroom in North Texas.
Billingsley Co. adds retail store to International Business Park: The Dallas-based company plans to build three retail buildings in a complex that includes about a dozen office buildings totaling more than 1.4 million square feet.
Major expansions of Passport Park are planned: Trammell Crow Co. plans to add three warehouses totaling more than 1.75 million square feet of space near DFW Airport.
Seven industrial buildings are part of the Rowlett project: Jackson Shaw's Lakeview Business Center will include more than 1.8 million square feet of construction in Rowlett's North Shore neighborhood.
