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reentitled to include 404 single-family homes and 80 acres of office, retail and medical. Children's Medical Center is scheduled to open at the site in May. Because Hines was able to re-zone to lots atypically small for the community, the partnership is selling lots to builders suitable for homes in the $650,000 to $800,000 range in the community where the average house price is $1 million. That price point in Southlake, which is known for its top-tier school system and close proximity to the airport as well as large local employers such as Lucent, Verizon, and Pfizer, has made the lots highly desirable. The second project includes the development of 64 single-family homes in Las Colinas. The 13.25-acre project called La Villita, includes 10 finished townhomes, 12 finished townhome lots, and other land that was reentitled from townhome lots to 64 single-family lots.
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Forest City Enterprises, Inc. has announced the creation of a public/private partnership with the City of Frisco for the long-term development of a 320-acre, mixed-use project known as Frisco North. The project is expected to include retail, residential, office, entertainment and hospitality components, as well as open space, public parks and municipal uses. Forest City is partnering on the development with Ernest Mahard, Jr., the land owner.
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Projects first announced and then put on hold three or four years ago have also been given the green light. First announced in 2007, the 2,300-acre Viridian neighborhood has now been officially launched by Dallas-based Huffines Communities. The newest mixed-use, master-planned community in Arlington will be set apart by its pedestrian-friendly “new urbanism” design and a green living environment. Bordered on south and east by the Trinity River and the northern border is the TRE transit track, the community is being built on one of the largest urban infill properties in the United States. Its eco-friendly amenities include 1,100 acres of protected wetlands and open spaces, a trail system with 20 miles of trails along the Trinity, and 450 acres of lakes. Viridian will host 400,000 square feet of retail shops and 500,000 square feet of office, hotel and restaurant space. Home prices will range from $200,000 to $2 million and include multi-family residences, live/work spaces, brownstones, town homes and luxury homes built on a private island.
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The commercial sector is also awakening to make good on some long-ago promised properties. Trademark Property Company, the Fort Worth-based real estate Services, Investments and Development firm, has relaunched its WestBend mixed-use development in Fort Worth, making the area one of Dallas-Fort Worth's strongest infill retail corridors. The move comes after strategically halting construction in fall of 2008 to wait for a recovery in the retail market. WestBend is a planned mixed-use, infill development in the University District. Located on the Trinity River, WestBend is within a mile from Fort Worth's Cultural District, the Fort Worth Zoo, Colonial Country Club and Texas Christian University. Upon completion, WestBend will include 90,000 square feet of retail, 150,000 square feet of office space and 130 hotel rooms.
People in the News C. KENT CONINE
C. Kent Conine joins such historical giants as Frank Lloyd Wright, Franklin D. Roosevelt and Harry Truman, by being inducted into the National Association of Home Builders (NAHB) Hall of Fame. Conine is the third member of the Dallas HBA to receive this honor, following Wilson Brown, Dave Fox and I.P. “Ike” Jacobs.
Conine, the president of the Conine Residential Group, served as the NAHB president in 2003 and led the association's effort to improve all facets of the home building industry. He was at the forefront of fostering innovative ways to create a secondary market for acquisition, development and construction loans to improve capital flow to the industry. Conine is also a past president of the Texas Association of Builders and the National Association of State of Housing Boards. He served as local HBA's president in 1997 and received the Hugh Prather Trophy, the HBA's highest honor, in 2000. Since 2008, Conine has served as chairman of the governing body of the Texas Department of Housing and Community Affairs, a state agency responsible for affordable housing, community services and energy
6 GREATER DFW METROPLEX BUILDING SAVVY MAGAZINE Vol 3 2011
NATIONAL, STATE & REGIONAL INDUSTRY NEWS
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