KDC to Break Ground on New State Farm Office Building at CityLine
By Amalia Otet, Associate Editor
KDC plans to kick off construction of a new 500,000-square-foot office property at its $1.5 billion State Farm-anchored mixed-use project in Richardson. Dubbed CityLine, the 186-acre transit-oriented development will eventually include as much as 6 million square feet of office space; two hotels; 3,925 multi-family residential units; 300,000 square feet of grocery, restaurant, entertainment and retail space; and three parks.
The recently announced facility will be the fourth CityLine building to be fully occupied by Bloomington, Ill.-based State Farm, bringing the insurer’s total footprint at the complex to 2 million square feet.
Randy Cooper and Craig Wilson with Cassidy Turley represented State Farm. Financing is being provided by a syndicate of lenders led by JPMorgan Chase, according to official statements.
Project specifics include a 12-story office building sitting atop a five-level parking structure and approximately 30,000 square feet of ground-floor retail space. The outfit will be located at the northeast corner of State Street and Plano Road, directly across Plano Road from the other three buildings leased by State Farm, currently under construction.
The fourth building is expected to break ground later this year, with a completion date set for mid-2016.
State Farm says it will start using the CityLine facilities beginning in late 2014, with moves occurring throughout 2015.
“We work hard to make Richardson a business-friendly community, and that combined with our access to highly skilled workers and major transportation hubs is what makes us the most sought-after location for office development in the Metroplex today,” said Richardson Mayor Laura Maczka. “CityLine is going to be a phenomenal addition to attract quality development, and this latest announcement by KDC and State Farm has us very excited about the long-term impacts CityLine will make on our local and regional economy.”
The 2.3 million-square-foot initial phase of CityLine, which debuted in July 2013 as reported by Commercial Property Executive, will integrate a plurality of uses, including residential, retail and hospitality. Completion is slated for 2015.
The focal point will be CityLine Plaza, a centrally located urban square featuring recreational amenities. Designed by the office of James Burnett, the landscape architect of Dallas’ signature Klyde Warren Park, the property will feature approximately 92,000 square feet of retail, along with open space for outdoor concerts and festivals, shaded gathering spots for meetings or meals, and walkways for pedestrians.
Additionally, the first phase will include a 150-key service hotel, 532 New Urbanism multi-family residential units, a 17,000-square-foot wellness and fitness facility, and a 41,000-square-foot boutique office building.
“CityLine will be a regional attraction with a unique level of access throughout the Metroplex,” said Richardson Chamber of Commerce President & CEO Bill Sproull. “Its location provides it direct access to the President George Bush Turnpike, Central Expressway and DART Bush Turnpike Station. Its proximity to I-635, DFW International Airport and Love Field also helps position the State Farm campus and CityLine development to benefit from the best Richardson’s transportation corridors have to offer.”
Corgan is the State Farm office architect and Omniplan is the CityLine retail architect and master planner. Kimley-Horn is the civil engineer and OJB is the landscape architect.
Rendering of the CityLine Development courtesy of KDC via its official website.Tags: Acquisitions/Dispositions, Architecture/Design, Brokers, CityLine, Commercial, Dallas Lead Story, Dallas-Fort Worth Metroplex, Developers, Development, Economy, Financiers, Investors, KDC, Leasing, Local, Mixed Use, mixed-use project, National, Office, office building, Operations, Regional, Regional Hub, State Farm, transit-oriented development