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April 2008 This issue home | Past issues | Chamber home $140-Million Mixed-Use, Brick Row Project Breaks Ground Brick Row to Feature 500 Apartments, 140 Townhomes, Up to 300 Condos, Plus 80,000 Square Feet of Retail Space, 11,000 Square Feet of Class A Office Space
Winston Capital Corporation and L&B Realty Advisors broke ground on April 3, 2008, on Brick Row, a major mixed-use, transit-oriented development immediately adjacent to the DART Spring Valley Light Rail Station in Richardson. The 30-acre, $140-million project, located at the northwest corner of Spring Valley Road and Greenville Avenue, will feature 500 upscale apartments, 140 luxury townhomes, up to 300 luxury condominiums, 80,000 square feet of retail and restaurant space and 11,000 square feet of Class A office space, all surrounding the two-acre McKamy Springs Park and a network of hiking and biking trails. David Weekley Homes is partnering with the project developers to build the luxury townhomes at Brick Row. Bryan Grossman of The Weitzman Group is the retail leasing broker, and Janice Peters of Hudson Peters Commercial is the office leasing broker. BGO Architects of Dallas is the architect and designer fro Brick Row. Brick Row is the largest transportation-oriented development currently planned along the DART Red Line in Richardson. It is also the first redevelopment project to receive funds (over $9 million) from Richardson’s newly created, 900-acre tax increment finance zone. Brick Row also received $1.3 million of federal transportation funds through the North Central Texas Council of Governments for streetscape improvements.
“We’re very excited about bring a truly walkable urban village to this centrally located site,” said Chris Ray, assistant vice president of Winston Capital. “Brick Row will be a key component in helping to revitalize Richardson’s southern gateway. We are deeply appreciative of the many partners who have helped bring Brick Row to fruition.” Brick Row’s name is a tribute to the original moniker and history of the Red Brick Road, now known as Greenville Avenue. With construction now underway, Brick Row’s first residential units are expected to be ready for occupancy by Summer 2009. “We are excited about what Brick Row, and other transformative projects like it, mean for the future of our community,” said Steve Mitchell, mayor of Richardson. “This significant investment in our community by Winston Capital and L&B Realty allows us to further embrace a new walkable urbanism and showcase our ability to adapt and meet the needs and desires of the business professionals, residents and visitors of tomorrow.” An open plaza will integrate Brick Row with the adjoining Spring Valley DART Station. Through convenient access to light rail and nearby highways, residents will easily be able to travel and commute throughout the Dallas area. Brick Row’s restaurants will offer options for casual lunches, friendly gatherings or laid-back, upscale dinners, plus small, one-of-a-kind retail boutiques that add to the walkable urban experience. A prominent centerpiece of the project is McKamy Springs Park, a two-acre city park for use by residents, shoppers, nearby workers and the public. McKamy Springs is a natural spring-fed pool that was used as a watering place by Caddo Indian tribes as early as 1690. Natural amenities also include a greenbelt with hike-bike trails connecting to Richardson’s planned extension of the north-south Central Trail, a major regional trail for pedestrians and cyclists, and to the trail system leading to Dallas’ White Rock Lake. For more information about Brick Row, visit www.livebrickrow.com. Winston Capital Corporation is a Dallas-based real estate investment and development firm with a growing nationwide portfolio of properties, and an emphasis on development in Texas. Winston Capital is focused on the development and redevelopment of multifamily and mixed-use properties, residential lot and homesite development, land banking for large homebuilders, land investment and non-traditional financial transactions. For more information on Winston Capital, visit www.winstoncapital.com. A pension fund represented by Dallas-based L&B Realty Advisors, LLC, is the equity partner on the project. L&B has built its reputation over 30 years as a results-oriented institutional investment advisor by achieving predictable returns in assets with low volatility. The company has $3.2 billion in real estate assets under management and represents clients such as the Michigan State Employees Retirement System, the Dallas Police & Fire Pension Systems, the Teacher Retirement System of Texas and the State of Florida.Action News is a monthly publication of the Richardson Chamber of Commerce Communications Department. Click here to Unsubscribe or email rsvp@richardsonchamber.com. |
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