Many developers are contributing to the continued growth of the Dallas market with new residential projects. A plethora of both single-family and multifamily projects are slated for delivery in the DFW metroplex, as developers try to capitalize on the continued demand for housing in this popular Sun Belt market.
Here are the development updates from Dallas, Texas to keep an eye on as the population in the city continues to boom:
Alpine Start Development Breaks Ground in Haltom City
Dallas-based developer Alpine Start Development has broken ground on a multifamily project in Haltom City, a principal city within the DFW metroplex. Alpine Fossil Creek will feature roughly 300 multifamily units, featuring three garden-style buildings across 15.6 acres. The initial phase of the project is expected to be completed by the summer of 2025, with the entire project slated for delivery in 2026.
Centennial’s Pivots Plans for The Shops at Willow Bend
Centennial, a Dallas-based real estate developer, is set to update its redevelopment plan for The Shops at Willow Bend in Plano. The city’s planning and zoning commission granted a one-time waiver, allowing Centennial to bypass the usual two-year waiting period for rezoning requests. Major changes are anticipated, including the addition of single-family residences and a redesign of the site to reflect shifts in the retail market. The updated plan, which will be reviewed by city staff, includes replacing existing retail spaces with multifamily units, office space, and a hotel.
Onu Ventures Secures Incentives for Project in South Dallas
Onu Ventures Inc., a Dallas real estate development firm, received a 10-year tax abatement and a $3.5 million economic development grant from the Dallas City Council to complete the multifamily portion of its 12-acre project in southern Dallas. The development, called The Adaline, will feature 238 residential units, including 20% designated as affordable housing for households earning 80% or less of the area median income, alongside a retail plaza. Despite challenges with financing due to rising costs, the incentive package aims to make the project more viable for investors. The firm anticipates completing the retail portion by February 2025 and the residential units by mid-2026.
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Texas Digest