Beal Bank has originated a loan of $619,450,000 to support the development of a mixed-use project, in the Knox Street neighborhood of Dallas, Texas. This collaborative effort involves MSD Partners, Trammell Crow Company, Highland Park Village Associates, and The Retail Connection. JLL Capital Markets played a role as the advisor for the borrower group in obtaining the construction financing.
Coburn Packard, Partner and Head of Real Estate at BDT & MSD Partners expressed enthusiasm about reaching this milestone and commencing construction on what they believe will be an exceptional mixed-use development in Dallas. They are dedicated to creating spaces and experiences and look forward to bringing their vision for Knox Street to life.
New York’s Woods Bagot, in collaboration with New York’s Kohn Pederson Fox, makes up the design team and the architect for this project is Dallas’ HKS while OJB Landscape Architecture handles creating a lush green space.
Trio of buildings planned for the Knox Street mixed-use development
The mixed-use development in the Knox Street will consists of three buildings; a 28-story hotel and condo tower a 27-story apartment rise with 173 units and a nine-story office tower spanning 150,000 feet. Additionally, there will be 100,000 feet allocated for restaurant establishments along, with a half-acre park that seamlessly connects to the Katy Trail.
The mixed-use development in the Knox Street project, which will be carried out by Balfour Beatty and Andres Construction is expected to cover an area of, around 1 million feet across four acres. This will considerably exceed the size of the existing buildings in the neighborhood. As per data from CoStar Group, the structures in the vicinity at present are the Highland Park Place office tower with 18 stories, and the Travis at Katy Trail apartments, with 17 stories.
Overseeing management responsibilities of the Knox Hotel and Residences will be Auberge Resorts – A unique division featuring 140 hotel rooms along with an exclusive offering of 48 condos sized between a spacious 2,500 square feet to an expansive grandeur of 15,000 square feet. Amenities at Knox street mixed-use development will include gourmet restaurants and lively bars, cozy lounges as well and accommodating event spaces not forgetting our full-sized spa complete alongside wellness areas complemented by open outdoor poolside bar facilities that assure patrons breathtaking skyline views over downtown Dallas cityscape once it debuts; anticipatedly opening its doors welcoming guests from all around come the year 2026.
Read also:Â Trademark plans to build a mixed-use community, The Vickery near downtown Fort Worth
