Discount Hotels In Carolina Beach|"Hotel, Park & Housing Planned For State Farm Project"

Source             :    dallasnews.com
Category        :    Discount Hotels In Carolina Beach

By                  :    KAREN ROBINSON

Posted By     :    Hotels Carolina Beach NC

Discount Hotels In Carolina Beach

Dallas-based developer KDC announced plans Thursday to add a hotel, housing, a medical facility and a park to the mammoth development that will house a regional office for State Farm Insurance in Richardson. The project, to be called CityLine, will be on roughly 36 acres near the Bush Turnpike and Central Expressway. “CityLine will be an instant city with a true urban environment,” said Walt Mountford, KDC’s executive vice president. “It’s adjacent to DART’s existing light-rail station and is also surrounded by key highways and two major thoroughfares.” The $600 million, 2.3 million-square-foot initial phase of CityLine is slated for completion in early 2015. The project will include more than 92,000 square feet of retail, restaurant and entertainment space; a contemporary 150-room select service hotel; and 520 apartments. Mountford said he expects to announce the operator of the hotel within 60 days and anchor tenant of the “eatertainment” area in the first quarter of 2014. Shops and restaurants will begin opening in late 2014, he said.Phase one also will include 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.

“I can’t think of another development that, upon opening, will completely integrate over 1.5 million square feet of office with retail, restaurant, entertainment, multifamily, medical, fitness and hospitality uses into an exciting experience for all who live in D-FW,” said Steve Van Amburgh, KDC’s chief executive. A focal point of the initial phase will be CityLinePlaza, a centrally located plaza designed by Office of James Burnett, the landscape architect of Dallas’ Klyde Warren Park. KDC has selected Dallas-based Retail Street Advisors to start pre-leasing and marketing.The plaza and project streets “are oriented and scaled specifically for pedestrians to encourage sidewalk and patio activity and to promote community interaction and gathering throughout the day,” said Aaron Stephenson of Retail Street Advisors. The restaurant, retail and entertainment spaces will be integrated into the base of the office towers, the multifamily residential and the hotel.The master plan also includes 7,700 parking spaces in CityLine garages.

In July, KDC broke ground on the project and announced that State Farm would lease 1.5 million square feet in a 13-story tower, a 15-story tower and a 21-story tower. Each rests on a five-level parking structure along with ground-floor retail space. KDC acquired the land for the project in December. The $600 million price includes the cost of the land. The project, adjacent to Dallas Area Rapid Transit’s 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 147.5 acres on the north side of Renner Road between Plano Road and Wyndham Lane. The west side includes 38.5 acres south of the Bush Turnpike between Plano Road and the DART light-rail tracks.Dallas-based developer KDC announced plans Thursday to add a hotel, housing, a medical facility and a park to the mammoth development that will house a regional office for State Farm Insurance in Richardson. The project, to be called CityLine, will be on roughly 36 acres near the Bush Turnpike and Central Expressway.

“CityLine will be an instant city with a true urban environment,” said Walt Mountford, KDC’s executive vice president. “It’s adjacent to DART’s existing light-rail station and is also surrounded by key highways and two major thoroughfares.” The $600 million, 2.3 million-square-foot initial phase of CityLine is slated for completion in early 2015. The project will include more than 92,000 square feet of retail, restaurant and entertainment space; a contemporary 150-room select service hotel; and 520 apartments. Mountford said he expects to announce the operator of the hotel within 60 days and anchor tenant of the “eatertainment” area in the first quarter of 2014. Shops and restaurants will begin opening in late 2014, he said.Phase one also will include 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. “I can’t think of another development that, upon opening, will completely integrate over 1.5 million square feet of office with retail, restaurant, entertainment, multifamily, medical, fitness and hospitality uses into an exciting experience for all who live in D-FW,” said Steve Van Amburgh, KDC’s chief executive. A focal point of the initial phase will be CityLinePlaza, a centrally located plaza designed by Office of James Burnett, the landscape architect of Dallas’ Klyde Warren Park. KDC has selected Dallas-based Retail Street Advisors to start pre-leasing and marketing.The plaza and project streets “are oriented and scaled specifically for pedestrians to encourage sidewalk and patio activity and to promote community interaction and gathering throughout the day,” said Aaron Stephenson of Retail Street Advisors. The restaurant, retail and entertainment spaces will be integrated into the base of the office towers, the multifamily residential and the hotel.The master plan also includes 7,700 parking spaces in CityLine garages. In July, KDC broke ground on the project and announced that State Farm would lease 1.5 million square feet in a 13-story tower, a 15-story tower and a 21-story tower. Each rests on a five-level parking structure along with ground-floor retail space. KDC acquired the land for the project in December. The $600 million price includes the cost of the land. The project, adjacent to Dallas Area Rapid Transit’s 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 147.5 acres on the north side of Renner Road between Plano Road and Wyndham Lane. The west side includes 38.5 acres south of the Bush Turnpike between Plano Road and the DART light-rail tracks.

Source:dallasnews.com/business/commercial-real-estate/headlines/20131024-hotel-park-housing-planned-for-state-farm-project-in-richardson.ece