Friday, May 12, 2017

Houston-based Hines unveils new 135-acre, campus-anchored project in Allen corridor

Global real estate firm Hines unveiled plans for a new 135-acre, campus-anchored mixed-use development along Allen's 121 corridor, which could bring thousands of square feet of office space, retail shops and urban-style living options to the North Texas city.

The would-be destination, called The Strand, at State Highway 121 and Alma Road in Allen will bring a corporate campus with walkable amenities in a mixed-use neighborhood to Allen, which will have tied into the trail system connected to Watters Creek.
Houston-based Hines is partnering with longtime land owner, Bob Johnson, whose family has owned the land since 1965.

"We are pleased to partner with Hines on the overall project and help shape the destiny of the community," said Johnson, in a statement. "Hines' history of collaboration with world-class designers and planners, like Gensler, will allow The Strand to maintain quality, innovation and a legacy for this part of the city."

Hines Managing Director Drew Steffen said the mixed-use development will create a new center with urban walkability, activated public space, parks and plazas and on-site amenities.

The initial phase of the project will include about 200,000 square feet of office space, 80,000 square feet of retail space, urban-style living options, and a greenbelt with park space and structured parking.

The next two phases will total the build out of 1.5 million square feet of office space with up to 300,000 square feet of living and additional residential homes. In all, the mixed-use development will bring 10-acres of greenbelt and trail system to the city.

The Strand will help fill a current and anticipated demand for space in North Texas, which has been "unprecedented," said Barry Hand, principal and studio director in Gentler's Dallas office.

Candace Carlisle/Dallas Business Journal.