Friday, June 12, 2015

KDC, Richardson to open new CityLine Drive, paving way for $1.5B project

Dallas-based developer KDC and the City of Richardson plan to officially open CityLine Drive on Tuesday,paving the way for a $1.5 billion, 186-acre mixed-use development in Richardson.
The group plans to host a ribbon-cutting ceremony on Tuesday, which marks the completion of the development's infrastructure that was developed in partnership with KDC, Richardson, Collin County, the North Central Texas Council of Governments, and Dallas Area Rapid Transit.    
Construction on the 2.3 million-square-foot initial phase of development is underway and includes an Aloft hotel, LOOK Cinemas, Whole Foods Market, a wellness office building anchored by Texas Health Resources and Children's Medical Center.
State Farm Insurance and Raytheon are the two major corporate tenants of CityLine. By this September, CityLine is expected to have a daytime population of 10,000 people.
At completion, CityLine will total 6 million square feet of office space, nearly 4,000 apartments, two hotels, 300,000 square feet of grocery, restaurant, entertainment and retail space. The development also will include three parks.   
Candace Carlisle/ Dallas business Journal