Love Field area boom will bring first new office project there in decades

Developers are set to begin construction on the first office building near Love Field in almost three decades.

KDC — the same developer that did the huge State Farm Insurance campus in Richardson — plans to build the office project as part of the $200 million mixed-use West Love development under construction on Mockingbird Lane.

Read More Here on The Dallas Morning News

Global real estate investors like London, Munich — and Austin

The idea of Austin as a significant global hub for technology is well-established, but Austin as a tempest of real estate investment? Apparently so.

Jeff Coddington, senior vice president of capital markets for JLL in Austin, says he has the data to prove it.

According to JLL’s “Globalisation and Competition: The New World of Cities” report, Austin is one of the top metros in the world for the velocity of commercial real estate deals relative to size. See the full report here.

Austin ranks No. 12 in the world in JLL’s Investment Intensity Index. It’s No. 4 in the U.S., being edged out only by Honolulu; San Jose, California; and San Francisco. The index measures real estate investment as a proportion of the city’s gross domestic product.

Read more on the Austin Business Journal

Verizon plans huge Irving development with office, residential and retail

Telecommunications giant Verizon is working on plans for a huge corporate development in Las Colinas that would house thousands of workers and residents.

The complex – with 3.5 million square feet of offices, housing, 85,000 square feet of retail and a 150-room hotel – would be one of the largest such projects ever built in Irving.

Plans for the 157-acre campus also include a new commuter rail station that would connect with Dallas/Fort Worth International Airport and downtown Dallas.

Read more on the Dallas Morning News

Mary Kay picks Lewisville for $100 million research, manufacturing plant

Cosmetics firm Mary Kay Inc. said Tuesday that it will build its $100 million manufacturing and research complex in Lewisville.

The direct sales firm recently decided it needed to replace its almost 50-year-old plant in northwest Dallas.

The company said it looked at locations around North Texas before picking Lewisville.

Mary Kay said it has identified a location but hasn’t yet purchased it.

Read more on the Dallas Morning News

Long-delayed mixed-use project inside the Loop may restart soon

The second phase of a mixed-use project just south of Allen Parkway has been on hold for years, but it may soon get underway.

Plans for the next phase of Regent Square were presented last week at a meeting of the North Montrose Civic Association, the Houston Chronicle reports. The association’s treasurer and the city of Houston’s chief development officer both told the Chronicle that the developer is preparing for the next phase of the project. The developer, Boston-based General Investment & Development Cos., declined to comment to the Chronicle.

Read more from the Houston Business Journal

$1 billion mixed-use development coming on LBJ Freeway in Farmers Branch

One of North Texas’ biggest land developers has purchased property north of LBJ Freeway for a $1 billion mixed-use development.

Centurion American Development Group acquired 370 acres out of Mercer Crossing community in Farmers Branch for $85 million.

The vacant tract – which surrounds a small lake – will be used for construction of a single-family home community, apartments, retail and commercial space.

Read more on the Dallas Morning News

$850 million residential community coming west of Fort Worth

Developers say they have received final approvals for a huge new residential community being built on Fort Worth’s west side.

The $850 million, 700-acre Morningstar development is being built north of Interstate 20 in Aledo.

More than 2,000 houses are planned in the project which is just starting construction.

The first homes in Morningstar – priced from the mid-$200,000s to the mid-$400,000s – will be ready next year.

Read more on the Dallas Morning News

UT’s massive plan for Houston; biggest thing in the area since Astroworld

The University of Texas System announced Nov. 5 that its board of regents approved the purchase of more than 300 acres in Southwest Houston. That land could be the catalyst for future development in the region, experts said.

The land itself is close to other major organizations and facilities, such as the Texas Medical Center and NRG Park. Almost more important, though, are plans for a light-rail line that will extend to the campus, said Tom Dosch, executive managing director for ARA Newmark.

Read more on the Austin Business Journal

Frisco’s Wade Park development has ramped up the amount of planned retail space.

The $1.6 billion, 180-acre project on the Dallas North Tollway will now contain almost as much retail and restaurant space as a shopping mall, developer Stan Thomas said Thursday.

“We are up to 950,000 square feet of retail that’s part of the development,” Thomas told members of the International Council of Shopping Centers meeting in downtown Dallas.

Wade Park was originally planned to have about 600,000 square feet of retail space anchored by a Whole Foods Market grocery store.

Read more on the Dallas Morning News