PMB Capital to Develop $250M Mixed-Use Project in Metro Dallas
SACHSE, TEXAS — PMB Capital Investments, a Dallas-based development and investment firm, will develop The Station, a $250 million mixed-use destination that will be located in Sachse, a northeastern suburb of Dallas.
The Station will be situated on 119 acres along President George Bush Turnpike between Miles and Merritt roads. Plans currently call for approximately 400,000 square feet of commercial and retail space, as well as 600 apartments and 250 single-family homes. The commercial space will be marketed to restaurant, office and entertainment users.
The project will also require significant investment in the surrounding infrastructure as well as improvements to nearby Heritage Park, a 34-acre public space. The park will ultimately feature an amphitheater, a boardwalk, children’s play areas and surrounding nature trails.
“We’ve worked with the city for more than a year on a creative financing structure that would ensure each parcel would be ‘shovel-ready’ at the outset and positioned to take advantage of market opportunities as they arise,” says Taylor Baird, partner at PMB Capital.
PMB Capital, which acquired the land for the project in October 2018, has partnered with the City of Sachse to fund work on the infrastructure and Heritage Park. Marty Neilon of CBRE represented the undisclosed seller in the land sale.
The developer is working with Kimley-Horn, Gateway Planning and TBG Partners on the engineering, land planning and landscape architecture for The Station, respectively. The Station is expected to open in early 2020.
— Taylor Williams