{"id":1004234890,"date":"2018-06-14T03:28:18","date_gmt":"2018-06-14T11:28:18","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004234890"},"modified":"2022-12-09T00:21:51","modified_gmt":"2022-12-09T08:21:51","slug":"bright-realty-kicks-off-324-acre-tx-mixed-use-project","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/bright-realty-kicks-off-324-acre-tx-mixed-use-project\/","title":{"rendered":"Bright Realty Kicks Off $1.5B TX Mixed-Use Project"},"content":{"rendered":"<p>By Barbra Murray<\/p>\n<div id=\"attachment_1004234896\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/The-Realm-at-Castle-Hills.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004234896\" data-attachment-id=\"1004234896\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/bright-realty-kicks-off-324-acre-tx-mixed-use-project\/the-realm-at-castle-hills\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/The-Realm-at-Castle-Hills.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"The Realm at Castle Hills\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;The Realm at Castle Hills&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/The-Realm-at-Castle-Hills.jpg?w=800\" class=\"wp-image-1004234896 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/The-Realm-at-Castle-Hills.jpg\" alt=\"The Realm at Castle Hills\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/The-Realm-at-Castle-Hills.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/The-Realm-at-Castle-Hills.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/The-Realm-at-Castle-Hills.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004234896\" class=\"wp-caption-text\">The Realm at Castle Hills<\/p><\/div>\n<p>The Realm at Castle Hills, a mixed-use project in Lewisville, Texas, will soon begin to take shape on a 324-acre site roughly 25 miles north of Dallas. Bright Realty just broke ground on the development, which will be constructed in the Castle Hills master-planned community in phases.&nbsp;Construction of Phase I of The Realm, spearheaded by general contractor Hill &amp; Wilkinson, is on track to reach completion in mid-2019.<\/p>\n<p>Phase I of The Realm consists of Offices at The Realm, a 235,000-square-foot office building designed by architecture firm BOKA Powell. In addition to Class A+ office space, the nine-story tower will feature 15,000 square feet of ground-level retail space. The first phase also calls for the creation of Crescent Park, a park and outdoor entertainment venue. Commercial real estate services firm Colliers has been tapped to market the office space, while Bright Realty will oversee leasing of the building\u2019s retail segment.<\/p>\n<p>Bright Realty is gearing up for Phase II of The Realm as well, with the commencement of groundwork for the second segment, which will deliver a 260-unit residential complex atop 35,000 square feet of retail space.&nbsp;Bright Realty is relying on Southwest Bank to provide financing for the development of The Realm, which, according to <em>Dallas News<\/em>, will cost $1.5 billion to complete.<\/p>\n<p><em>&#8220;The demand to live, work and play in the same area has transformed our suburban communities,&#8221;<\/em> Chris Bright, CEO of Bright Realty, said in a prepared statement. <em>&#8220;The Realm is designed with that in mind and with a focus on an overall quality of life that offers a sophisticated suburban setting with generous outdoor and event spaces.\u201d<\/em><\/p>\n<h2>Mixed-use mania<\/h2>\n<p>Across the U.S., mixed-use projects account for a notable segment of construction activity, which is booming. According to a 2018 report by property and construction advisory services firm Rider Levett Bucknell, \u201c<em>Mixed-use development is the second largest market, making up nearly 25 percent of all cranes in North America.\u201d<\/em><\/p>\n<p>As is the case in many major metropolitan cities in the U.S., the mixed-use trend is evident in the Dallas area. Among the long list of mixed-use projects planned or in the works is the 400-acre <a href=\"https:\/\/www.commercialsearch.com\/news\/maa-tapped-to-design-1-3b-dallas-project\/\">Grandscape<\/a>, which is being built less than 30 miles north of Dallas in The Colony. <a href=\"https:\/\/www.commercialsearch.com\/news\/1-billion-mixed-use-bayside-project-in-texas-moving-forward\/\">Bayside, a $1 billion development<\/a> featuring a Crystal lagoon, is being planned for a 262-acre site in Rowlett, roughly 15 miles outside downtown Dallas.&nbsp;<\/p>\n<p><em>Image courtesy of Bright Realty<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Phase I of The Realm at Castle Hills in Lewisville will bring a 235,000-square-foot office tower with 15,000 square feet of ground-level retail, plus a park and outdoor entertainment venue.<\/p>\n","protected":false},"author":969,"featured_media":1004234896,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1586,21782,21808,21752,21742],"tags":[34769,40666,32763,39210],"class_list":["post-1004234890","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dallas","category-development","category-featured","category-mixed-use","category-latest","tag-boka-powell","tag-bright-realty","tag-colliers-international","tag-hill-wilkinson"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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