DALLAS — Crow Holdings will undertake a $100 million renovation of the Hilton Anatole, a 1,610-room hotel located northwest of downtown Dallas. Trammell Crow Co. originally developed the hotel on a 52-acre site in 1979. The renovation will be carried out in phases over the next several years, with completion slated for 2028. Updates to 718 guestrooms were recently completed, and the next phase will include renovations to another 899 guestrooms and 600,000 square feet of meeting and event space. The project will also enhance the hotel’s food-and-beverage offerings, which at present include nine restaurants and bars. The Hilton Anatole also houses a water park and curated art from the Crow family collection.
WACO, TEXAS — Development Ventures Group, known as Deven Group, and Austin-based owner-operator Parallel will develop a 631-bed student housing project near Baylor University in Waco. The site at the corner of James Avenue and 5th Street will house a seven-story building with 265 units in studio through five-bedroom configurations. Amenities will include a resort-style pool and a sky lounge. The groundbreaking for the project is scheduled for April 2026, with completion planned for summer 2028. Teddy Leatherman of JLL and Ryan Lang of Newmark structured the partnership between the two groups.
HOUSTON — Dallas-based investment firm Knightvest Capital has sold Lakeside, a 296-unit apartment community in southwest Houston. Built in 2001, Lakeside offers one-, two- and three-bedroom units with an average size of approximately 1,000 square feet. Newly added or upgraded amenities at Lakeside include a clubhouse, pool, fitness center and a dog park. David Mitchell of Newmark represented Knightvest in the transaction. Colin Cross, also with Newmark, arranged financing on behalf of the buyer, Pegasus Real Estate.
BRYAN, TEXAS — Dallas-based brokerage firm The Multifamily Group (TMG) has negotiated the sale of Clearleaf Crossing, a 76-unit complex located in the Central Texas city of Bryan. Built in 1983, the property exclusively offers three-bedroom units with an average size of 1,400 square feet. Yonnic Land of TMG represented the seller in the transaction. Dylan Tomor, also with TMG, represented the buyer, which plans to implement capital improvements. Both parties requested anonymity.
SPRING, TEXAS — Locally based brokerage firm SVN | J. Beard Real Estate has arranged the sale of an 11,250-square-foot retail strip center in Spring, a northern suburb of Houston. The center is home to tenants such as Sherwin-Williams and Shogun Japanese Grill. Matt Knagg of SVN | J. Beard represented the buyer in the transaction. Austen Baldridge and Bob Conwell of NewQuest represented the seller. Both parties requested anonymity.
By Taylor Williams “Economic development is the process of improving the economic well-being and quality of life for a community or nation through strategies like job creation, infrastructure development and advancements in education and health.” That’s the first sentence of the AI-driven overview that results from a simple Google search of the term “economic development.” And admittedly, that’s a very good start. Economic development is rooted in economics, a field that embodies the study of business, industry, jobs and wealth. The Google definition also pays tribute to the behind-the-scenes infrastructural work that is required to jumpstart and sustain most business endeavors, particularly regarding commercial real estate. And lastly, it covers what which may be the most important, end-all goal of economic development work: elevated quality of life for the people who live in, work at and patronize those commercial establishments. It’s that last part of the definition that appears to represent a growing niche and focal point within the spectrum of economic development work in Texas. Quality-of-life initiatives can be manifested in an array ofcommercial settings: housing, entertainment, food-and-beverage, hospitality. And as economic development professionals embrace many different roles — ambassadors of their communities, liaisons with developers and business owners, …
MCKINNEY, TEXAS — A partnership between the City of McKinney, located north of Dallas, and developer Cole Cannon has broken ground on a $200 million water-themed mixed-use project on a 35-acre site at the northeast corner of Stacy Road and State Highway 121. Known as Cannon Beach, the development will comprise a three-acre surf lagoon and resort-style hotel, as well as dining, entertainment and other commercial spaces. The hotel will feature a rooftop pool area that can support private events, as well as lounge areas and cabanas with food service and will connect to the surf lagoon and other water-focused attractions, including cliff diving and a stationary surf wave. Plans also call for a skateboard park, movie theater, bowling alley, health club and indoor recreation facilities. The McKinney Economic Development Corp. and the McKinney Community Development Corp. are also partners on the project, the first phase of which could open as early as mid-2027, and the development team estimates that the project could create as many as 700 new jobs and generate as much as $2 billion in regional economic impact over the next 20 years.
AUSTIN, TEXAS — Atlanta-based developer Portman is underway on construction of 2545 Brockton, a 429-unit multifamily project that will be situated adjacent to The Domain in North Austin. Developed in partnership with Austin-based Generational Commercial Properties, 2545 Brockton will offer studio, one-, two- and three-bedroom units, 39 of which will have private rooftop patios. Amenities will include a rooftop pool and open green spaces, and the property will also house 6,850 square feet of ground-floor retail space. Construction is expected to be complete in spring 2028.
DALLAS — Newmark has brokered the sale of Jefferson Cedar Ridge, a 360-unit apartment community in southwest Dallas that was built in 2024. According to Apartments.com, the property offers one-, two- and three-bedroom units and amenities such as a pool, fitness center, business center, clubhouse, dog park and outdoor grilling stations. Richard Furr, Brian Murphy and Brian O’Boyle Jr. of Newmark represented seller, Dallas-based investment firm TDI, in the transaction. Braden Harmon, Hank Glasgow and Jeff Fein, also with Newmark, arranged acquisition financing for the deal on behalf of the buyer, a partnership between Ashcroft Capital and Pearlmark Real Estate.
ROUND ROCK, TEXAS — Provident Industrial, the industrial division of Dallas-based Provident, has broken ground on Eagle 35, a 292,884-square-foot project in Round Rock, a northern suburb of Austin. Eagle 35 will consist of three buildings, two of which will span 75,790 square feet and feature 28-foot clear heights and a shared 185-foot truck court. Building 3 will total 140,994 square feet and feature 32-foot clear heights. Cushman & Wakefield is the leasing agent for Eagle 35, which is expected to be complete in early 2027.