Wednesday, August 06, 2014

Work starts on more than 500 apartments in Richardson’s CityLine project

Developers have broken ground on 532 apartments next to State Farm Insurance’s huge regional campus in Richardson.

KDC and JLB Partners are building the apartments on Plano Road south of Bush Turnpike in KDC’s 186-acre CityLine mixed-use development next to a DART station.

The first units will be ready next summer.

Construction just started on the four-story apartment complex that will have 233 apartments built on top of 20,000 square feet of retail space.

Farther south at CityLine Drive, a five-story rental project will have 299 units.

“The apartment homes at CityLine are a big part of the overall vision we have for the high energy, walkable CityLine development,” KDC’s Walt Mountford said in a statement.

The $1.5 billion CityLine project is the largest real estate development in North Texas. More than 8,000 State Farm workers and almost 1,700 employees of Raytheon Co. will work in two large office campuses.

A 250-room Aloft Hotel and shopping center anchored by a Whole Foods Market are also part of the project, which has been under construction for more than a year.

JLB Partners’ new apartments will range from 573 to 1,550 square feet of space. Another 300 rental units are planned in a second phase of development.

Regions Bank and Capital One provided financing for the project.

KDC says that by September of next year, CityLine will have a daytime population of 10,000.

Plans for the development include 6 million square feet of office space, two hotels, 3,925 apartments, 300,000 square feet of retail space and three parks.

The first State Farm workers will begin moving into three new office towers at the end of this year. A fourth State Farm building is planned across the street.

Raytheon broke ground on its three-building campus in the same development last month.

By Steve Brown- Dallas News