Dallas continues to be one of the largest metros for real estate development in the country, and numerous developers have plans to go big in Dallas Fort-Worth area. The steady growth in Sun Belt populations, rise in demand for distressed office space, and economic incentives have made the metroplex ripe for new opportunities.
Here are the development updates to keep an eye on as this popular metro continues to boom:
Hunt Sports Group to give Toyota Stadium a Face Lift
Frisco’s City Council approved a $182 million renovation for Toyota Stadium, including new suites, concessions, and a mixed-use development around the facility. The project, funded by the city and partners, will add office spaces, a hotel, residential units, and retail areas, similar to other major sports-entertainment hubs like the Dallas Cowboys’ Star. The Hunt Sports Group, which owns FC Dallas, will reimburse the city for part of the costs and aims to complete the project by 2028, without disrupting MLS matches. This development reinforces Frisco’s reputation as a key sports destination, and could further bolster the city’s popularity.
Dallas Developers Team Up on Bank of America Redevelopment
Dallas developers PegasusAblon and Hoque Global are set to purchase the 1.85M SF Bank of America Plaza in Dallas, along with four surrounding blocks, for a $350M redevelopment project. The plans include adding a 300-room luxury hotel, streetscape improvements, and new amenities like restaurants and shops. Bank of America is relocating to a new tower in Uptown, leaving significant vacancies in the building, which will be transformed into a potential site for the new Texas Stock Exchange (TXSE).
Old Prosper Partners Going Big in Collin County
Old Prosper Partners has purchased 2,452 acres of land in Collin County, known as The Colmena Ranch, for a major residential development project. The North Texas-based firm plans to build thousands of homes and apartments, capitalizing on the region’s rapid population growth. The site will be strategically bisected by the upcoming Collin County Outer Loop, though zoning and permits will take two to three years. This acquisition is part of the firm’s broader expansion, having bought and sold over 6,000 acres in the area since 2021.
