Two More High-Rise Projects Slated to Start in Uptown Dallas

DFW: A private equity firm will start construction later this fall on a $68 million, 17-story office building in Uptown Dallas. Stonelake Capital Partners, which has offices in Texas and Georgia, will be the latest to get into the rapid office development north of Downtown Dallas. The building at 2626 McKinney will encompass 180,000 square feet. It will be near the Whole Foods Market. The high-rise will have an amenity lounge with coffee and cocktail bars, and a landscaped terrace offering spectacular views of the city. It will also have a communal kitchen, a conference center and a fitness center, a parking garage. The glass tower is the latest of numerous office construction high-rise projects in the pipeline in Uptown Dallas.

DFW: And not to be left out, an Austin hotel developer will soon start construction on a dual-branded Marriott high- rise hotel project in Uptown. Merritt Development Group plans to begin construction this spring on a combined 264-room, 25,000-square-foot hotel project that will include Marriott's upscale AC and Moxy brands. AC is a favorite among older travelers while Moxy tends to attract younger guests. The 19-floor, $100 million project will go in at 2910 N. Hall Street near McKinney Avenue. AC will have 121 rooms and Moxy will have 143 rooms. They will share amenities but each will have its own lobby. Construction is expected to take about two years.

DFW: The suburban area north of Dallas continued to see the most homebuilding activity in 2022. That's according to a new report from Residential Strategies, a Dallas-based housing analysis company. It says that builders started 3,266 new homes last year in the U.S. Highway 380 corridor, the most of any North Texas submarket. That area includes Aubrey and Oak Point and the area beat out Kaufman County, which topped the list for 2021. Kaufman County had 2,871 home starts in 2022. Other top homebuilding areas last year included North and East McKinney, Princeton, the U.S. 287 corridor in Fort Worth, Fate, Royce City, Southwest Fort Worth, Parker County and West Denton, Northlake and Argyle. In the fourth quarter of 2022, builders started nearly 8,000 new homes in North Texas, down nearly 40% below the fourth quarter of 2021. The survey found that the costliest
homes were in Prosper, with a median price tag close to $700,000.

DFW: The second phase of the Crown Centre development in Lewisville is expected to start later this spring. Bright Realty will begin construction in April on a four-story, 147,000-square-foot building at State Highway 121 and Carrollton Parkway. The $30 million project is expected to be completed by mid-2024. Phase I in the 120-acre development was a 109,000-square-foot building that was completed in 2020. Crown Centre could eventually include 2,000 multifamily homes, 3 million square feet of office space and several hundred hotel rooms. The master plan includes nearly three dozen buildings connected by natural
trails and wooden boardwalks with green spaces, lakes and a waterfall as backdrops.

FLORIDA: Big Papi wants a Big Payout. Former MLB slugger David Ortiz is parting with his wife and his Florida estate. Seven years ago, the ex-Boston Red Sox first baseman and designated hitter bought an acre of land in Pinecrest, a suburb in Miami-Dade County. He had a 10,000-square-foot mansion built on the property, but now Ortiz and his wife Tiffany are splitting and the house is going, too. The mansion includes five bedrooms, floor-to-ceiling windows, a gourmet kitchen, several living and areas, a home theater and a separate sports bar, a pool, spa, a gazebo with an outdoor kitchen and various covered terraces. He's asking $12.5 million.