Craig International’s $250M Dallas-Area Development to Break Ground

District 121. Rendering courtesy of Craig International

District 121, Craig International’s $250 million mixed-use development in McKinney, Texas, is scheduled to break ground this month.

The master-planned project, labeled as the region’s next retail and corporate destination, will span nearly 18 acres at the corner of State Highway 121 and Alma Road, adjacent to Craig Ranch and some 30 miles from downtown Dallas.

Upon completion, District 121 will encompass a total of 520,000 square feet of office space anchored by Kaizen Development—which committed to 200,000 square feet of Class A space in an eight-story building. Plans also call for 40,000 square feet of retail, restaurants as well as other uses, including a hotel.

The first phase of the project will include Kaizen’s office building, McKinney’s first entirely speculative office building, featuring amenities such as flexible conference space, tenant lounge, outdoor amenity space, a golf simulator and a fitness center.

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Phase one will also feature The Commons, a 0.7-acre green space, incorporating both hardscape and landscape, a stage with LED screen and sound system, patio space, as well as areas for outdoor gas fire pits and other entertainment options. Last year, McKinney Community Development Corp. provided a $2 million grant for the development of The Commons.

Craig also plans to deliver the entire 40,000-square-foot retail component of the project as part of the first phase, along with patio restaurants and an 800-space parking garage. The first phase of District 121 is expected to open next spring.

Corporate destination

Thanks to incorporated sustainable retail, restaurant and entertainment amenities, District 121 is designed to attract large corporate tenants. According to McKinney’s Mayor, George Fuller, District 121 will support the cities aspirations to become a primary choice for corporate relocations.

As the pandemic impacted the attractiveness of major gateway cities and spurred a wave of company relocations, the Dallas-Fort Worth metroplex became a desirable destination for corporations. In one of the most notable corporate relocations last year, CBRE moved its global headquarters from downtown Los Angeles to Dallas.