KDC ANNOUNCES PROJECT NAME AND PLANS FOR INITIAL PHASE OF 186-ACRE TRANSIT-ORIENTED DEVELOPMENT IN RICHARDSON, TEXAS
Newly named “CityLine” to feature hotel, retail, multi-family, fitness and office space
RICHARDSON, Texas – October 24, 2013 – Developer KDC today announced plans for the initial phase of its transit-oriented development located on 186 acres in Richardson, Texas. The company also announced the name of the development: CityLine.
“The name CityLine was a natural choice as the development is on the border of two great cities: Richardson and Plano,” said KDC’s Walt Mountford. “It’s adjacent to DART’s existing light rail station and is also surrounded by key highways and two major thoroughfares. CityLine will be an instant city with a true urban environment.”
The $600 million, 2.3 million-square-foot initial phase of CityLine is slated for completion in early 2015. It includes KDC’s property west of Plano Road and adjacent to the DART light rail station. Project specifics include dense urban restaurant, retail and entertainment space; a contemporary 150-room select service hotel; 520 new urbanism multi-family residential units; an 18,000-square-foot wellness and fitness facility; a 41,000-square-foot medical office building; and a 3.5-acre park with trails, all woven within the recently announced 1.5 million square feet of office towers leased by State Farm.
“CityLine has been a team sport, and KDC has been fortunate to work with great designers and development partners to create an outstanding place for the community,” said Steve Van Amburgh, KDC’s CEO. “I can’t think of another development that, upon opening, will completely integrate 1.5 million square feet of office with retail, restaurant, entertainment, multi-family, medical, fitness, and hospitality uses into an exciting experience for all who live in DFW.”
The focal point of the initial phase will be CityLine Plaza, a centrally located urban plaza designed by Office of James Burnett (OJB), the landscape architect of Dallas’ signature Klyde Warren Park. Framing CityLine Plaza, fronting Plano Road, and located along State Street will be more than 92,000 square feet of retail, restaurant and entertainment space. KDC has selected Dallas-based Retail Street Advisors to start pre-leasing and marketing.
“KDC and its design team have created a truly compelling urban environment that will attract a dynamic mix of dining and entertainment options,” said Aaron Stephenson of Retail Street Advisors. “State Street and CityLine Plaza are oriented and scaled specifically for pedestrians to encourage sidewalk and patio activity and to promote community interaction and gathering throughout the day.”
Buildings that incorporate several uses are central to the CityLine master plan. Restaurant, retail and entertainment spaces are integrated into the base of the office towers, the multi-family residential, and the hotel, allowing CityLine Plaza and both sides of State Street to be surrounded by activity. The master plan also focuses on creating a walkable, pedestrian-friendly environment, while providing easy access for vehicles and ample parking in the 7,700 spaces within CityLine parking garages.
In July, KDC broke ground on the project and announced State Farm will lease 1.5 million square feet in three office towers. The Class A office buildings consist of a 13-story tower, 15-story tower and 21-story tower. Each tower is situated on a five-level parking structure along with ground floor retail space.
KDC acquired the land for the Richardson master-planned project in December 2012. The project, adjacent to the Dallas Area Rapid Transit’s (DART) Bush Turnpike Station on its Red Line, will be a transit-oriented development on the east and west sides of Plano Road. The east side includes the 147.5 acres of land on the north side of Renner Road, between Plano Road and Wyndham Lane. The west side includes 38.5 acres of land south of President George Bush Turnpike between Plano Road and the DART light rail tracks.
At full build-out, the $1.5 billion CityLine project will contain approximately six million square feet of office space, two hotels, 3,925 multi-family residential units, 300,000 square feet of grocery, restaurant, entertainment and retail space, and three parks.
Corgan is the State Farm office architect and Omniplan is the CityLine retail architect and master planner. Kimley-Horn is the civil engineer and OJB is the landscape architect.
KDC, one of America’s leading commercial real estate and investment companies, provides a full range of commercial real estate services including corporate build-to-suit development, acquisitions, corporate facility project/construction management, project financing, asset and land management, and marketing and leasing. KDC is headquartered in Dallas and has offices in Austin and Houston, Texas, Charlotte, N.C., and Lexington, KY. For more information, please visit kdc.com.
About Retail Street Advisors
Dallas-based Retail Street Advisors (RSA) is a boutique consulting firm specializing in placemaking fundamentals and merchandising strategies for mixed-use projects and high street retail. For more information please visit www.retailstreetadvisors.com.