Construction is underway on a mixed-use revitalization project at Pearl and Cesar Chavez, JPI announces its first McKinney property, and DFW crime rates are released, all in this week’s roundup of real estate news.
Ground Broken On East Quarter Revitalization Project
Construction began last month on the first of four ground-up developments within the East Quarter revitalization project.
Todd Interests is spearheading the effort at 300 Pearl, a 20-story building between Pearl Street and Cesar Chavez Boulevard. The $130 million development is slated for 180,000 square feet of office space, 25,000 square feet of ground-floor retail, and more than 300 apartments.
Enclosed parking, a fitness center, and private bar are featured in the project that will preserve 1940s-era buildings along Cesar Chavez Boulevard.
Texas A&M University Real Estate Center reports that Altschuler and Co. are leasing office space, and Shop Cos. Is leasing retail. The office portion, designed by Merriman Anderson Architects and built by Andres Construction, will be complete by early 2021, with retail to follow in mid-2022.
Source: Dallas Business Journal
JPI Construction Announces Its First McKinney Property
JPI Construction recently closed on construction financing for Jefferson Rockhill, a multifamily development just off of US-75 in McKinney.
The community will feature 354 apartment homes and is expected to open in summer 2021. Jefferson Rockhill joins more than a dozen other JPI projects that are currently operating or under construction in North Texas
“The entire JPI team is elated to enter the McKinney market,” said Miller Sylvan, senior vice president and development partner for JPI’s Central Region. “McKinney is in the heart of the growing DFW economic boom, and Jefferson Rockhill will put residents just a short drive away from the top employment centers in McKinney, Allen, Plano, Frisco, and Richardson, while still offering convenient access to other parts of the Metroplex.”
The development is spread across 16 acres, and includes a putting green, enclosed dog park, beer garden, fitness center, yoga studio, coffee bar, and concierge service.
Source: JPI Construction
Dallas Maintains Higher Violent Crime Rate Than Fort Worth
Dallas’ violent crime rate (765 out of 100,000 residents) is higher than Fort Worth’s (501/100,000 residents), according to a recent study published by Clever Real Estate.
That’s also true for each category of violent crimes, said Francesca Ortegren, a research associate with Clever Real Estate, who authored the study.
Here are the numbers:
- Murder/non-negligent manslaughter: Dallas (11.3), Fort Worth (6.5)
- Rape: Dallas (60.8), Fort Worth (53.9)
- Robbery: Dallas (292.6), Fort Worth (124.9)
- Aggravated assault: Dallas (400.2), Fort Worth (316.2)
Dallas also has a higher property crime rate (3,249 out of 100,000 residents) than Fort Worth (2,846/100,000 residents).
That’s not always true for the sub-categories of property crimes, Ortegren says.
- Burglary: Dallas is higher (665.3) than Fort Worth (503.9)
- Motor vehicle theft: Dallas rate (709) is more than twice that of Fort Worth (332.5)
- Larceny/theft is more common in Fort Worth (2009.2) than Dallas (1874.6)
- Note: All values above are out of 100,000 residents.
Source: Clever Real Estate