A transformative development is on the horizon in Northlake, adding to the swell of real estate activity in Denton County.
Canada-based Western Securities is spearheading Chadwick Farms, a 60-acre mixed-use project slated for up to 900 apartments, 60,000 square feet of retail, restaurant and entertainment space and a hotel, the Dallas Morning News reported.
Retail Street Advisors will handle leasing for the retail component, which is set to include a 35,000-square-foot shopping center called Chadwick Commons, according to Western Securities’ website.
Chadwick Farms, located east of Interstate 35 near Texas Motor Speedway, is near a planned Dallas Stars youth sports facility. Northlake residents approved a $45 million bond in November to fund that development.
Northlake anticipates that the sports complex will catalyze its economic development plan, which identifies sports-oriented tourism as a growth driver.
The construction timeline for Chadwick Farms is somewhat synchronized with the sports complex, the outlet said. The first phase will focus on the multifamily portion.
The Star’s facility is part of the NHL squad’s goal to expand its influence beyond the ice, as it works to create various youth sports opportunities across Dallas-Fort Worth.
The multisport facility, projected to have over 1.3 million visitors annually, will feature NHL-level ice rinks, basketball and volleyball courts, pickleball courts, a health clinic and dining options. It’s expected to open by the end of next year.
Denton County’s steady population growth has attracted a flock of developers. Irving-based Realty Capital Residential is at the helm of a 20-acre mixed-use project, called Parkway District, southeast of Denton. It will comprise apartments, 22,000 square feet of retail and restaurant space, 16 townhomes and a hotel.
Separately, Dallas-based Generation Housing Development is plotting a three-building, $33 million multifamily complex in the area.