CityPlace 1, in the northeast portion of CityPlace, is expected to break ground in the first quarter of 2016 and could be completed in the first quarter of 2017, said Gary Johnson, vice president of Crimson Services, a sister company of CityPlace developer Patrinely Group.
Johnson said CityPlace 1 will house 150,000 square feet of mixed-use space, including 26,000 square feet of retail space in addition to office space.
“We have commitments on about 20 percent of the office [space]and have a huge amount of interest in retail,” he said. “It all has to happen at the same time, and we’re shovel-ready.”
Johnson said the demand for corporate office space has tempered recently with the decline in oil prices.
While work begins on the first office building, Johnson said construction will simultaneously be done on the second phase of CityPlace right across the street, which will feature a parking garage with a fitness center on the top floor. On the ground floor, the Patrinely Group is working to attract restaurants to three available pad sites.
CityPlace will eventually house 4 million square feet of office space and 400,000 square feet of retail, including a movie theater complex that will allow patrons to dine and eat at the same time and will feature at least 10 theaters, Johnson said. However, he said none of the retail, restaurants or entertainment tenants are ready to be announced.
The northeastern section of CityPlace will also feature Springwoods Village’s second luxury apartment complex, The Mark at CityPlace, which is also the second multifamily project in Springwoods Village to be developed by Martin Fein. Clayton Benedict, project manager for Springwoods Village for Coventry Development Corp., said the site is being prepared, and the foundation work could begin in the near future.
Benedict said work is nearly completed on the first phase of CityPlace Park just east of the residential and mixed-use projects, which will feature trails, landscaping and pedestrian lighting when it is finished in November.