A Houston-based real estate giant is spearheading a three-building project that will spur development in Uptown Dallas.
According to the Dallas Business Journal, Hines is partnering with Dallas-based Stockdale Investment Group to build more than 1 million square feet of office, apartment and senior living buildings at 4444 McKinney Avenue.
The city Planning Commission recently approved the developer’s request to rezone more than 3 acres of land that Stockdale has owned for about 12 years. The project, called Knox Promenade, is planned for 282 apartment complexes, 220 senior living and memory care units, 355,000 square feet of office space and 89,000 square feet of retail and restaurant space.
A construction timeline has not yet been finalized and the proposal still requires final City Council approval. Hines is remaining tight-lipped because it is “focused on advancing several key stages of the development,” a company spokesperson told the outlet.
The developers are seeking incentives through the city’s mixed-income housing program, which would mean either the project would include affordable housing or Hines would pay a fee that would go toward affordable housing elsewhere in the city.
Additionally, Knox Promenade will feature design elements intended to enhance the pedestrian experience and encourage community engagement. The project will feature spacious public spaces, including The Grove, which will replace surface parking with lush landscaping.
The proposed development would be near another three-tower project spearheaded by Trammell Crow Company and BDT & MSD Partners, furthering Uptown’s emergence as a development hotbed.
Other notable projects underway in Uptown include 23Springs, a Class AA office building being constructed by a joint venture between Granite Properties and Highwoods Properties that will have 26 floors, 626,000 square feet of floor space, underground parking and a separate building for restaurants.
Kaizen Development Partners and public television and radio station KERA are planning a mixed-use project that would include a 400,000-square-foot office tower, a high-rise residential building and about 20,000 square feet of restaurant and retail space.
Lincoln Property Company acquired the four-acre development site at 2500 Cedar Springs Road in March with plans to build up to 500,000 square feet of office space, 250 apartments and a 200-room luxury hotel.
—Quinn Donahue
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