Stillwater Capital, a Dallas-based investor and developer that played a pinnacle role in recruiting the PGA of America to North Texas has announced that zoning for its latest project has been approved. The Link, a 240-acre master-planned district located at the intersection of PGA Parkway and Legacy Drive in Frisco, will be a mixed-use addition to PGA Frisco – its name inspired by the pedestrian promenade that connects the two developments through an expansive greenspace network — and is the only commercial real estate project with direct views of the PGA Championship golf course, set to open in summer 2022. The development will also directly connect to the Omni Resort & Conference Facility, set to open in summer 2023.
“This project delivers on our promise to capitalize on the momentum generated by the PGA headquarters and Omni Resort,” said Frisco Mayor Jeff Cheney. “The Link is a world-class development that will complement the energy of PGA Frisco.” The resort-style destination will include a mix of Class A office, destination retail, luxury residential, dynamic entertainment, boutique hospitality, and sports-focused wellness uses at full build-out.
Stillwater Capital played a key role in recruiting the PGA of America to North Texas and is a co-owner in PGA Frisco, a $500M mixed-use project that the PGA of America headquarters anchors. The PGA Frisco development also includes two 18-hole golf courses, a short course, clubhouse, retail village, and a 500-room hotel with 127,000 SF of meeting space. The golf course will host a variety of major golf events, including PGA Championships (2027, 2034), Women’s PGA Championships (2025, 2031), Senior PGA Championships (2023, 2029), and numerous junior and amateur events.
The initial phase of The Link is scheduled to commence construction in the fourth quarter of 2021.
High-Rise Office Tower Launches in Uptown
Harwood International and JLL Capital Markets announced today that they had secured joint financing to develop Harwood No. 14. The 27-story Class AA office tower will bring 360,000 square feet to the Uptown district. Due for completion in second-quarter 2023 and already approximately 45 percent pre-leased, Harwood No. 14 will be anchored by Haynes and Boone, LLP, a high-profile Am Law 100 law firm. The architecture, construction, and design teams behind Harwood No. 14 are Kengo Kuma & Associates (design architect), HDF (architect of record), Corgan (associate architect), and Manhattan Construction Company (general contractor). The JLL Capital Markets team representing the developer was led by Senior Managing Director Bill Fishel and Senior Director DJ Meagher. JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.
Transwestern Announces Plans For New Office Development In Richardson’s CityLine
Transwestern Development Company has announced plans for a new Class A office property within CityLine, a popular mixed-use development in Richardson. The Exchange at CityLine, proposed as a 300,000-square-foot, 6-story building, is a venture between TDC and BC Station Partners, with Dallas-based BOKA Powell as the architect. Current plans include extensive glass lines to provide natural light, state-of-the-art mechanical systems for wellness and comfort, onsite fitness and food service accommodations, and a garage structure with a 4.5/1,000 parking ratio. Transwestern’s Paul Wittorf and Duane Henley are marketing the property.
Cambridge Companies Announces Third Master-Planned Community in Celina
Cambridge Companies is breaking ground this summer on its third development underway in Celina. The Parks at Wilson Creek, a $1.5 billion master-planned community, sits on 720 acres that will ultimately include 2,400 homes. Celina is expected to grow from 30,000 to 160,000 residents in the next 10 years.
The first phase of the Parks at Wilson Creek will consist of approximately 358 lots by top builders David Weekley Homes, Highland Homes, Perry Homes, and Tradition Homes. Located at the intersection of the new Collin County Outer Loop between Coit and Custer roads in Celina, the new master-planned community will feature a 100-acre public central park with sports fields and planned home prices from the mid-$300s to $700s.
Stream Realty Awarded for Near Completed DFW Master Industrial Park
Stream Realty Partners has been recognized for its Midway Logistics Park, a Class A, master-planned, infill industrial development in Haltom City. The development recently received the 2020 Haltom City Momentum Award to recognize exceptional business growth and contributions to the community. In 2020, Stream purchased 40 acres, six miles northeast of downtown Fort Worth, and worked closely with Haltom City to develop the land into a state-of-the-art logistics park for the community. Midway Logistics Park totals 491,000 square feet consisting of three speculative buildings ranging from 126,000 to more than 200,000 square feet.
The Haltom City Council and city staff nominated Stream for the award. Rex Phelps, City Manager of Haltom City, stated, “Stream is renowned in DFW for their ability to proactively access development opportunities and create true value for the community, establishing relationships first. They do things differently and take a unique approach to commercial real estate—and this is what the Momentum award recognizes. When it comes to real estate development in Haltom City, Stream is the gold standard. We have enjoyed this partnership to bring Midway Logistics Park to fruition.”