development2

Red House Cajun Restaurant Coming to Metro Dallas

by Haisten Willis April 24, 2015

COLLEYVILLE, TEXAS — Red House Cajun Seafood Restaurant is coming to Colleyville and will be located in a 7,609-square-foot restaurant building at 5120 Highway 121. Nearby restaurants include Rio Mambo and LaHacienda Ranch. Red House will offer crab, lobster, shrimp and crawfish, as well as fish and traditional gumbo. Mark Boone of Irving-based Realty Capital Management LLC, along with Allison Cornwell, represented the landlord. Greg Blandford with Position Property Group represented the tenant.

April 24, 2015

Office Texas

Texas Children’s Hospital to Expand With 19-Story Tower

by Haisten Willis April 23, 2015

HOUSTON — Texas Children’s Hospital, in collaboration with FKP Architects, will add a $506 million, 19-story patient tower to its campus as part of a $575 million capital investment. The new tower will sit on top of an existing six-story base adjacent to Texas Children’s Pavilion for Women. FKP’s Houston office will lead planning and design for the project, which is expected to be complete in 2018. Pediatric Tower E will initially offer 129 beds for pediatric and cardiovascular intensive care, along with new operating rooms. It will also be the home of the relocated Texas Children’s Heart Center, including a new outpatient clinic, cardiovascular operating rooms, dedicated cardiology beds and catheterization labs. The Heart Center will move out of the West Tower, making way for additional acute care beds. The project will be funded in part from the Texas Children’s Promise Campaign.

April 23, 2015

Hospitality Texas

Development Agreement Approved for $85M Hotel, Convention Center in Metro Dallas

by Haisten Willis April 22, 2015

ALLEN, TEXAS — The Allen City Council has approved a development agreement with TCH Altera LLC for the construction of The Convention Center at Watters Creek, an $85 million facility. The convention hotel will contain 290 guest rooms, a 64,500-square-foot convention center and a 1,000-car parking garage on seven acres at Bethany Drive and North Central Expressway. Projected to open in January 2017, the center will become the largest convention and exhibition space in the north Dallas suburbs. The multi-entity agreement provides for the city, Allen Economic Development Corp. (AEDC) and Allen Community Development Corp. to jointly contribute $12.3 million toward the capital investment in the project and to provide additional operational support over time. The AEDC also will contribute the land, which it has owned since the 1990s. TCH Altera has arranged construction financing and anticipates breaking ground by the end of this summer.

April 22, 2015

Office Texas

Passco Cos. Opens New Office in Austin

by Haisten Willis April 22, 2015

AUSTIN, TEXAS — Passco Cos. has opened a new office in Austin. Shelli Cusack will oversee the company’s Austin office, and will also be responsible for a portion of Passco’s multifamily portfolio encompassing more than 3,000 units in North Carolina, South Carolina and Georgia. Cusack has been responsible for the management of more than $1 billion in real estate assets during her career. Passco Cos.’ new Austin office is located at 7000 N. Mopac Expressway, Suite 200. Passco focuses on the acquisition, development and management of multifamily and commercial properties throughout the United States.

April 22, 2015

Multifamily Texas

Allied Orion Group Breaks Ground on Apartment Complex in Metro Houston

by Haisten Willis April 21, 2015

CONROE, TEXAS — Allied Orion Group has broken ground on Harper’s Retreat, a new 216-unit apartment home community located in Conroe. Targeted to open in late 2015, Harper’s Retreat is the first multifamily luxury property being built in the Harper’s Preserve master-planned community. Allied Orion Group is the developer. Meeks + Partners designed the project. Harper’s Retreat is located at 17011 Harpers Way. With access to I-45 and Highway 242, the apartment community is near The Woodlands, area parks, Lake Conroe and downtown Houston. The property will include one- and two-bedroom units that will feature granite countertops, stainless steel appliances, wood flooring and ceramic tile. Amenities will include a swimming pool, cabanas, grilling stations, state-of-the-art wellness/fitness center, dog park, clubhouse and cyber café with Wi-Fi access.

April 21, 2015

Multifamily Texas

SWBC Real Estate Breaks Ground on Two Multifamily Developments

by Haisten Willis April 20, 2015

SAN ANTONIO AND GRAND PRAIRIE, TEXAS — SWBC Real Estate has broken ground on two new developments, both Class A Apartment projects. The first project, Twin Creeks at Alamo Ranch, broke ground earlier this year on the west side of San Antonio. Upon completion, the project will include 300 one-, two- and three-bedroom apartments. The proposed construction time for Twin Creeks at Alamo Ranch from start to finish is 18 months. In the second project, SWBC Real Estate broke ground on its second project, known as Timberview Ranch, which is located in Grand Prairie. Upon completion, the project will include 304, Class A garden-style one-, two- and three-bedroom apartments. Timberview Ranch is schedule for completion at the end of 2016. Galaxy Builders serves as the general contractor for both projects. Cross Architects is the architect.

April 20, 2015

Retail Texas

H&M to Open New Location in Metro Dallas

by Haisten Willis April 17, 2015

CEDAR HILL, TEXAS — H&M, a fashion retailer, will open a new location in Cedar Hill. Spanning 21,000 square feet, the new location at Uptown Village at Cedar Hill is set to open in the fall of 2015. The store will be the company’s 15th location in Texas. The store is expected to employ 25 people.

April 17, 2015

Retail Texas

Cinépolis USA to Open in Dallas Mixed-Use Development

by Haisten Willis April 17, 2015

DALLAS — Cinépolis USA will open an eight-screen, 700-seat theater in Victory Park, a 75-acre mixed-use development in downtown Dallas. Located at the northwest corner of Victory Park Lane and High Market Street, the theater will be part of a mixed-use building, which will also include residential and retail components. Cinépolis Luxury Cinemas-Victory Park is the company’s first location in Texas. The 44,000-square-foot cinema is projected to open in 2017 and will include reclining leather seats. The Cinépolis building will also include a 640-space structured parking garage located above the ground floor retail to accommodate residents, retail customers and moviegoers. In addition, construction of a new 250-space parking facility at the south end of the district at Victory Avenue and Lamar Street is slated to begin in the next month.

April 17, 2015

Retail Texas

New Retailers to Join Northwest Village Shopping Center in Longview

by Haisten Willis April 16, 2015

LONGVIEW, TEXAS — Three retailers are set to open at the Northwest Village Shopping Center, a regional power center in Longview. Located at the northeast corner of Loop 281 and Gilmer Road at 1725 W. Loop 281, the shopping center is situated on approximately 14 acres. The leases total 86,000 square feet. Big Lots will occupy 36,000 square feet. Karen Mitchell of The Woodmont Co. represented the tenant in the transaction. Big Lots is expected to open its doors in fall 2015. Burke’s Outlet will occupy 28,880 square feet. Clay Graham of Fox & Graham represented the tenant in the transaction. Burke’s is planning to open this month. ALDI Food Market will occupy 21,120 square feet. Stan Lotridge with UCR represented the tenant in the transaction. ALDI Food Market is expected to open in fall 2015. The three new leases bring Northwest Village’s occupancy from 42 percent to 95 percent.

April 16, 2015

Retail Texas

Ridgmar Mall in Fort Worth to Receive Renovations

by Haisten Willis April 15, 2015

FORT WORTH, TEXAS —Ridgmar Mall in Fort Worth will soon undergo an interior makeover. The renovations include the remodeling of a movie theater and other upgrades to the interior that will change the look and feel of the mall, according to GK Development, the Barrington, Ill.-based owner of the regional shopping center. The mall’s revitalization plan calls for new sightlines, new color schemes and new decorative lighting. During construction, all stores will be open. The theater will see updated auditoriums with recliners. Other amenities will include updated finishes inside the auditoriums, enhanced concession options and reserved seating. The work is set for completion this summer. Ridgmar Mall is located on the northeast corner of I-30 and Green Oaks Road in west Fort Worth. Tenants include Dillard’s, JC Penney, Macy’s, Neiman Marcus, Sears, Rave Ridgmar 13 + Xtreme Cinemas and more than 125 other stores and restaurants.

April 15, 2015

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