X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

DALLAS-With close to 60 acres firmly in hand just west of the CBD, West Dallas Investments LLC is moving forward to get the plot developed. The local partnership is seeking a partner, or partners, to help develop Trinity River West, a mixed-use project that could total 45 million square feet at an estimated cost of $120 million.

Jones Lang LaSalle Inc. vice president Scott Cullen tells GlobeSt.com that entities with both money and development expertise are being sought for the project along the banks of the Trinity River. Cullen is working with Jones Lang LaSalle managing director John Vick and senior associate Justin Bates to find partners that know how to put up full mixed-use district developments.

Though uses for the acreage are far from set in stone, the developer’s thought is that the land could hold residential, retail and office product. But Cullen cautions that there is a long path to travel between here and there. “You wouldn’t know, by looking at this site, that it is one 57-acre parcel,” he explains. “This consists of a number of different parcels assembled over time. It’s a mix of light industrial and some residential.” He goes on to say that buildings on the site are still occupied.

Once the partner, or partners, are found, the next step will involve long-term planning and ensuring that the right zoning and entitlement plans are in place. And that’s even before horizontal development begins.

Still, West Dallas Investments, which includes Dallas restaurateur Phil Romano and local businessman Larry B. McGregor, have spent years assembling the land. Cullen says it’s a good sign that the partnership is moving forward on the project.

“The idea is to find someone, a national or internationally player, that has development expertise on this type of development,” he adds. “We’re talking about a totally new district in Dallas, that could be an extension of the CBD across the Trinity River. WDI has been the acquirer of the land. Now it’s time to find others with a level of expertise to take this to the next step.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. APARTMENTS SPRING 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.