While the ongoing tough interest rate environment has many developers and real estate investors across the country on the sidelines, activity in Dallas-Fort Worth has been brisk.
Whether companies are formally breaking ground on projects or positioning themselves to take advantage of a more favorable capital market environment, several notable deals moved forward in the first quarter of 2024.
It’s a remarkable backdrop to what a slower year means for North Texas.
Here are some of the notable transactions and contract announcements that took place between Jan. 1 and March 31 of this year.
Lincoln Property Secures Land for Uptown Project: The Dallas-based commercial real estate firm has officially purchased the four-acre site along Cedar Springs Road.
Overall, the development will include 400,000 to 500,000 square feet of office space, approximately 250 luxury apartments, a 200-room five-star hotel and residences, and 25,000 square feet of food and beverage retail.
Sands Casino owner buys property formerly owned by Mark Cuban: The Las Vegas family that acquired a controlling stake in the Dallas Mavericks also purchased more than 12 acres of land along Stemmons Freeway on Inspiration Drive in Dallas’ Design District from a company founded by Cuban.
Hillwood buys 1,380 acres in Celina: Local businesses plan to build 4,000 housing units on the land in a community called the Ramble. The developer is also setting aside 18 acres for apartments and 64 acres for commercial and retail buildings.
Larkspur Capital’s Dallas Medical District site acquisition: The Dallas-based company plans to develop a future mixed-use project on nine acres in the rapidly changing corridor.
Triumph Financial acquires new headquarters building: The fast-growing Dallas-based financial holding company plans to initially relocate just under 500 employees to the facility.
Crescent Fort Worth to grow with new 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 restaurants on the building’s first floor and has already seen interest in the space, and is also considering adding a private club there.
Arapahoe Station Advances: Plans for a new office building near a proposed DART Silver Line station in Addison have been in the works since 2021. VanTrust Real Estate is handling the development, and Thirty-Four Commercial is leasing the project.
Fate Approves $800 Million Project: Located between Ben Payne Road and Crawford Avenue, Lafayette Crossing has plans for development that includes 186 single-family homes, about 1,300 apartments and about 900,000 square feet of commercial space.
Fields West Moves Forward: Construction is expected to begin later this year on two office buildings in addition to retail stores and parking at the Fields West development in Frisco.
The Energy Plaza renovation will enable other transformation projects. Todd Interest has renovated a former downtown office building into new luxury rental housing and modern office space, now called “The Sinclair.”
Dallas companies team up on hotel and residential tower: Headington Cos. and Pacific Elm Properties are collaborating on the construction of a 30-story residential and hotel high-rise that will be built across from the landmark Fountain Place Tower in downtown Dallas.
Two local companies helped develop Castle Hills: Weitzman and JPI have formed a joint venture to develop the Louisville site south of the Rayburn Tollway, which would feature 760 apartments and retail space on land adjacent to Weitzman’s existing Castle Hills Marketplace center.
New rental home community coming to Aubrey, Melissa: Legacy Partners has partnered with Los Angeles-based investor Resmark Inc. to build two single-family rental housing communities.
A 35-story residential project planned for construction along Pearl Street: Swiss investment management company Empira Group is planning to build a high-rise residential building near the Plaza of the Americas in downtown Dallas.
Walsh Community Expands: Walsh Communities in Fort Worth plans to expand its Overlook Park and Lake Park neighborhoods this year as part of its next phase, adding 339 home sites.
Green Brick Properties and Hersh Family Investments Team Up for the Celina Community: Rainwater Crossing will bring about 2,000 residential lots to the fast-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. launches Fort Worth rental community: The Fort Worth-based developer has begun construction on a five-acre development that will include 307 apartments and 14 townhouses, as well as a restaurant building.
There are three BTR communities in progress: Chicago-based CoreSpaces will build three rental housing communities in Frisco, Fort Worth and Rowlett.
The Grove at La Frontera Lot by Zale Properties: The Dallas builder received funding earlier this year to build a 396-unit mixed-use community at 8100 South Collins Street at Debbie Lane in Arlington.
Hines applies for building permit for Victory Park high-rise: Plans from the Houston-based developer show it plans to build 480 residential units and an 835-car parking garage next to Dallas’ One Victory Park office tower.
Margaritaville Resort anchors $6 billion Lake Texama community: The $100 million, 250-room property is part of the 3,100-acre Preston Harbor community.
$220 million music venue under construction in McKinney: NotesLive and the city of McKinney plan to begin construction on a luxury outdoor amphitheater later this year.
Las Colinas Hotel Completes Rebranding to Ritz-Carlton: The 400-acre hotel and resort off Carpenter Freeway in Irving, formerly the Four Seasons Resort, has officially changed its flag.
Loews Arlington Hotel opens: Loews’ newest location in Arlington’s Entertainment District will feature dining options, an artificial beach and the largest ballroom in North Texas.
Billingsley Co. adds retail store at International Business Park: The Dallas-based company plans to build three retail buildings in a complex that will include about a dozen office buildings across more than 1.4 million square feet.
A major expansion of Passport Park is planned. Trammell Crow plans to add three warehouses totaling more than 1.75 million square feet of space near DFW Airport.
The seven industrial buildings that are part of the Rowlett project are: Jackson Shaw’s Lakeview Business Center will include more than 1.8 million square feet of construction in Rowlett’s North Shore neighborhood.
