Located along SH 121, the $1.3 billion mixed-use development will include up to 2,000 multifamily units, 3 million square feet of office space and up to 500 hotel rooms upon completion, according to the company. It is a 10-20 year project that could be completed as early as 2030.
The 140-acre master-planned community will also have three open spaces with lakes and trails that connect its 35 buildings; outdoor event space; and 140,000 square feet of other nonresidential commercial uses, including retail and open green space.
Mixed-use communities are becoming more common, said Lucas Patterson, Bright Realty’s executive vice president. Employers are gravitating toward these developments to offer employees a high-quality place to work that also has easy access to restaurants, shopping, green space and other amenities.
“[Crown Centre has] great access to work and play,” he said.
Crown Centre has 300 multifamily units and 105,000 square feet of office space complete. An additional 300 multifamily units are under construction and expected to be completed in late 2024, Patterson said. Of the 35 buildings that will make up Crown Centre, six or seven buildings will be multifamily.
The Crown Centre development marked another milestone in April when Bright Realty broke ground on Crown Centre II, a $50 million investment that will bring a four-story, 147,000-square-foot office building to the area. It is expected to be completed in mid-2024.
The 140 acres encompassing Crown Centre is the last remaining undeveloped land in the Castle Hills community, Patterson said.
“Crown Centre is wonderful for commuting,” he said. “It offers employers and residents access to Dallas’ airports, shopping venues, Grandscape, Top Golf, [and] all kinds of entertainment in the area. It’s kind of an ideal place to mix work and leisure.”