StreetLevel Breaks Ground on DFW Mixed-Use Development
StreetLevel Investments has broken ground on Village at Gateway, a 120-acre mixed-use project in Forney, Texas. The developer plans to transform the site into a shopping, dining and recreation destination that will come online in two phases.
The project is taking shape within Gateway, a 2,000-acre master-planned development including for-sale and rental units alongside light industrial, retail, entertainment, office, hotel and medical spaces.
Village at Gateway Phase 1 will comprise around 500,000 square feet of retail space, with completion expected in the summer of 2026. The second phase is set to include another 200,000 square feet of retail.
GFF serves as main architect and Ridgemont Commercial Construction is the general contractor. Edge Realty Partners Principals David Copeland and Ryan Griffin will oversee retail leasing and sales at the property.
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A 144,000-square-foot Target, 130,000-square-foot H-E-B and 135,000-sqaure-foot Home Depot will anchor Phase 1. This stage of development will also feature an additional 120,000 square feet of retail, service and restaurant space, nine outparcels and multi-family residential.
Located at North Gateway Boulevard and U.S. Highway 80, the site is north of Interstate 20 and some 25 miles from downtown Dallas. Texas Health Resources’ 50-acre medical campus will take shape immediately west of Village at Gateway.
Fortney has been recently named the nation’s 10th fastest growing suburban city, according to StreetLevel Investments’ Managing Principal Brian Murphy.
DFW retail market remains resilient
Even though the construction activity somewhat slowed, Dallas-Fort Worth’s retail market remains resilient. The metro recorded 4.2 million square feet of retail space under development in the third quarter, according to a recent Partners report. Meanwhile, approximately 823,146 square feet came online, concentrated in the high-growth northern suburbs.
The Metroplex’s vacancy rate clocked in at 4.7 percent, decreasing 10 basis points from the previous quarter. The metro’s leasing activity continued to show positive numbers, with 2.3 million square feet of commitments signed in the third quarter of this year. H-E-B’s lease at Valley at Gateway was on one the largest deals of the interval.
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