Wednesday, November 12, 2014

Developer Jack Matthews heading to Prosper with new office project

Construction on the first building at the Dallas North Tollway and U.S. 380 will start next year.(Matthews)
Developer Jack Matthews – who is best know for his projects in the downtown Dallas area – is jumping to the northern suburbs with a new office park in Prosper.
Matthews Paradise, a partnership between Matthews and developer Mitch Paradise, will build a 275,000-square-foot office building near the northwest corner the Dallas North Tollway and U.S. Highway 380, the company said Wednesday.
The new office  project is next door to where Texas Health Resources is building an advanced outpatient facility.
Construction on Matthews new Prosper project will start next year.
“There hasn’t been a significant office development in Prosper for at least a decade,” Paradise said.  “We think the demand is out there. And we have a number of tenants we are in talks with.”
Matthews has owned the Prosper proepty since before he and Paradise teamed up last year for their office development partners.
Last week Texas Health Resources bought 10.5 acres for its new medical project which is still in design work, Paradise said. “We think building an office project next door is appropriate,” he said.
Prosper Mayor Ray Smith said in a statement that timing of the project is good because “business growth is marching north along the tollway.”
Architect BOKA Powell designed the Matthews Paradise office project.
Matthews developed the Omni Hotel in downtown Dallas and is developer of the South Side on Lamar project just south of downtown.