$2.5 billion development on U.S. 75 will start with office, apartments and retail.
Developers of a proposed mixed-use project north of downtown Dallas are updating plans for the huge development.
De La Vega Development has been working for more than three years on the $2.5 billion project on North Central Expressway. The 27-acre development — called The Central — is planned just north of the Cityplace complex on the east side of the highway.
The project attracted international attention when demolition of an old high-rise on the site took a wrong turn, leaving a leaning wreck of the tower that became a social media sensation.
Now De La Vega Development says its revised plans include a first phase with 350,000 square feet of office space overlooking a four-acre centerpiece park. Almost 29,000 square feet of retail and restaurant space are planned.
Dallas developer StreetLights Residential will also construct a 350-unit apartment community.
“We are thrilled to begin work on The Central — what will become a unique, superblock in the core of Dallas that is unlike anything else,” De La Vega CEO Artemio De La Vega said in a statement. “Listening to our community, we know we have the chance to deliver what people want the most: the opportunity to be outdoors, to create connections and to feel safe and secure.”
Dallas-based Falcon Realty Advisors is also joining the project team to market the restaurant and retail space.
“Our goal is to program the development, as well as the four-acre park, with welcoming spaces featuring approachable retail, food and beverage, hospitality and fitness options, all to create a premier destination for our city to discover,” Falcon CEO and President Tim Hughes said in a statement.
Irving-based apartment builder JPI has already started construction on a 430-unit rental community adjacent to The Central site.
The Central is one of the largest mixed-use projects in the works in central Dallas. And it would be the tallest, densest development in the area between North Central Expressway and Ross Avenue.