Mixed use developments are areas designed to blend residential, retail and office/commercial spaces in a pedestrian-friendly environment. And they’ve done very well in the Dallas area.
In Uptown, the West Village opened in 2001, and has been booming ever since. Starting at 125,000 square feet, it will soon grow to over 250,000 square feet, with shops and entertainment and rubbing elbows with offices and condos.
In Plano, the Shops at Legacy are a similar success. Its been estimated that some 4 million people a year visit the area to see foreign films and eat top-notch cuisine.
Further north, Frisco will be joining the list. But even before opening, the development is looking to expand.
Atlanta-based development firm Thomas Land & Development is so confident in Frisco’s growth that they are already seeking additional room in the so-called “$5 Billion Mile,” a reference to the extensive — and expensive — construction projects in the area.
Encouraging the Frisco expansion is the new world headquarters of the Dallas Cowboys. Who wouldn’t want to be in the neighborhood?
As these sorts of developments continue, they provide opportunities for those looking to invest in real estate. And as most of these sorts of projects contain one or more hotels, there are chances for hoteliers as well.
All in all, a positive for DFW.