Mixed-Use

RICHARDSON, TEXAS — The grand opening is being held today for Eastside, a mixed-use project located in Richardson. The project includes more than 80,000 square feet of retail space, more than 200,000 square feet of office space, and 435 apartments surrounding a 1-acre park containing a fountain and an amphitheater. Post Eastside, the residential component of the project that is being developed by Atlanta-based Post Properties, includes four buildings rising four stories each. They include one- and two-bedroom apartments that range from 503 to 1,436 square feet in size and rent from $835 to $1,900 per month. The first building was completed in May, the second building was completed in July and the third building is opening at the ceremony, along with the new club room, fitness center and leasing office for the community. The final building is expected to be complete in the spring. Occupancy is currently at 86 percent. New restaurant tenants at Eastside include Panera Bread, Jersey Mike’s Subs and Boudreaux’s Cajun Kitchen. Other tenants include Dr. Goad Dentistry, Massage Envy and Frost Bank. Five new stores and restaurants are expected to open in January. Eastside is being developed in partnership by Post, Dallas-based Skyrise Properties and …

DENTON, TEXAS — Dallas-based Rainier Capital Management has arranged $1.1 million in mezzanine financing for Market Square at Unicorn Lake in Denton. The 136-acre mixed-use project consists of more than 200,000 square feet of retail, restaurant, entertainment and office space, as well as Villas at Tuscan Hills, a 106-home residential component. A Homewood Suites by Hilton is also under construction at the site. Amenities include an approximately 33-acre greenbelt with Unicorn Lake as the focal point. Proceeds from the loan will be used to complete infrastructure for the final phases of the project. The project is being developed by Shelton Development. Terms of the loan were not disclosed.

DALLAS — Groundbreaking ceremonies were held earlier this month for Midtown Park, an 83-acre, mixed-use development located near Presbyterian Hospital on North Central Expressway in Dallas. The project is currently zoned for up to 3,800 residential units, 930,000 square feet of office space, and 90,000 square feet of retail space — but these numbers could be changed as space is subtracted from one use and added to another. Current plans for the residential component include townhomes, high-rise condos and a senior housing element. The office component will provide space for hospital-related tenants, as well as Class A users in the area. Plans for a hotel are also in the works. When coming up with the idea for Midtown Park, owner Valencia Capital Management wanted to create a community around the busy Presbyterian Hospital. “The reason we made this investment is because of the hospital,” says Tim Kaiser, principal of Valencia Capital Management. “That hospital generates a lot of jobs and a lot of economic activity in the area.” But the hospital is not the only draw in the area. Midtown Park’s trade area also is home to the headquarters of Texas Instruments, North Park Mall and Royals Oaks Country Club. …