RICHARDSON, TEXAS — Developer KDC Real Estate Development & Investments has revealed plans and a project name for its master-planned, mixed-use development in Richardson, approximately 13 miles north of downtown Dallas. The $600 million first phase of CityLine will total 2.3 million square feet adjacent to the Bush Turnpike Station of the Dallas Area Rapid Transit system.
Slated for completion in early 2015, this initial stage of construction will feature three office towers totaling 1.5 million square feet, fully preleased by State Farm Insurance. Also to be included are dense restaurant, retail and entertainment space; a 150-room hotel; 520 multifamily residential units; an 18,000-sqaure-foot wellness and fitness facility; a 41,000-square-foot medical office building; and a 3.5-acre park.
The focal point of the first phase will be CityLine Plaza, a centrally located urban plaza designed by Office of James Burnett, the company known for work as the landscape architect of Klyde Warren Park in Dallas.
“CityLine has been a team sport, and KDC has been fortunate to work with great designers and development partners to create an outstanding place for the community,” says Steve Van Amburgh, CEO of Dallas-vased KDC. “I can’t think of another development that, upon opening, will completely integrate over 1.5 million square feet of office with retail, restaurant, entertainment, multifamily, medical, fitness and hospitality uses into an exciting experience for all who live in Dallas/Fort Worth.”
Corgan is serving as architect for State Farm’s office space. The Class A buildings — one standing 13 stories, another rising 15 and the last soaring 21 — will each include ground-floor retail space and a five-level parking structure.
The main retail component of the first phase will frame CityLine Plaza, situated alongside State Street and fronting Plano Road. KDC has selected Dallas-based Retail Street Advisors to market and pre-lease the 92,000-plus square feet of space.
“KDC and its design team have created a truly compelling urban environment that will attract a dynamic mix of dining and entertainment options,” says Aaron Stephenson with Retail Street Advisors. “State Street and CityLine Plaza are oriented and scaled specifically for pedestrians to encourage sidewalk and patio activity and to promote community interaction and gathering throughout the day.”
At full build-out, CityLine will feature approximately 6 million square feet of office space; two hotels; 3,925 multifamily units; 300,000 square feet of retail space; three parks; and 7,700 spaces within parking garages. Kimley-Horn is acting as the project’s civil engineer, and Omniplan is working as the retail architect and master planner.
As planned, the project is estimated at $1.5 billion and will occupy 186 acres between Renner Road and the President George Bush Turnpike at Plano Road.
KDC provides a range of commercial real estate services including corporate build-to-suit development, acquisitions, corporate facility project management, project financing, asset and land management, marketing and leasing. Outside of its headquarters in Dallas, the company also operates offices in Austin and Houston, as well as Charlotte, N.C. and Lexington, Ky.
— John McCurdy