Originally Published on D Real Estate Daily
D CEO magazine presented awards in 15 categories at its third annual Commercial Real Estate Awards program, held at the Frontiers of Flight Museum. Here’s a look at those honored in the Best Mixed-Use Project category.
Winner: CityLine
North Texas saw a flurry of mixed-use announcements in 2014, and several promise to be quite impressive. But the bar has been set extremely high by CityLine. What began as a 1.5 million-square-foot corporate campus for State Farm has evolved into, well, a city. Designed by Corgan and developed by KDC, the 186-acre project sits along a DART rail line where North Central Expressway meets State Highway 190.
The development saw exponential growth in 2014. In February, State Farm announced a fourth, 500,000-square-foot building. A few weeks later, Raytheon announced a 489,000-square-foot, three-building campus. Combined, the two companies will occupy 2.5 million square feet and employ 13,000 people.
“The success of CityLine is amazing,” says Randy Cooper, vice chairman at DTZ. He and colleague Craig Wilson provide tenant representation for State Farm. “If there [had been] problems with the development, the expansion would not have occurred,” Cooper says. “KDC delivered on everything they promised.”
That promise was to provide a top-notch live-work-play experience for its office tenants. It’s being delivered with a LOOK Cinemas dining and theater complex, an Aloft boutique hotel, a trail system and 3.5-acre park, wellness and fitness facilities, and Coal Vines, Jasper’s, and other restaurants. KDC tapped JLB Partners to handle the multifamily components of CityLine, and Regency Centers is developing an on-site, Whole Foods-anchored retail center.
In the not-too-distant future, the daily population at the mixed-use project will top 15,000. But the impact doesn’t stop there, says Steve VanAmburgh, CEO of KDC. “There have been several hundred million dollars of new developments announced in the last 90 days that are directly adjacent to CityLine, and none of that would have happened without CityLine,” he says. “We believe it’s just the start.”
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