Thirty-five years old and still growing!
Irving’s Las Colinas development is experiencing a building boom which will add single-family homes, apartments, hotels, and commercial space to its already-sprawling 12,000 acres.
Originally planned in the 1970s, Las Colinas was never expected to succeed, but the real estate boom in the 1980s proved many doubters wrong. Now, 35 years later, Irving’s Las Colinas is easily ranked as one of the best planned communities. It is home to many, major corporations, including Exxon Mobil Corporation, Kimberly-Clark Corporation and Fluor Corporation.
Much of the new development, which is now underway, will be constructed upon 600 acres purchased by Hines two years ago. The land, which cost the Houston-based company nearly $100 million, is located in the prime, Urban Center of Las Colinas.
A wide range of projects are slated for this land, making Las Colinas even more of a mixed-use development. Riverside Drive will also be home to two prominent residential communities, and 29 acres near Northwest Highway will soon be home to apartment residences.
The residential community on Riverside Drive will feature more than 700 home lots. The new Lakes of Las Colinas community, which will be constructed on the Northwest Highway’s north side, will serve as a luxurious, lakefront community. Homes in this community will start in the $600,000 range, extending to homes worth $1 million or more.
Another nearby community, close to La Villita Boulevard, is Riverside Village, a 400-home subdivision which is slated to begin construction this summer.
Other projects in Las Colinas include:
- Already under construction, Alta Lakeshore Lofts will feature 341 units right along Lake Carolyn’s shores in the Urban Center.
- Canadian developer Fram Building Group recently acquired a large piece of land near Northwest Highway and Las Colinas Boulevard which is slated to house residential, office buildings and hotels. It will be located near Irving’s planned convention center.
- Palladium USA is currently developing plans that will construct two residential high-rise buildings near the Wood Partners’ project on Las Colinas Boulevard.
- The mixed-use land development project Water Street will house residential apartments, a shopping plaza, commercial offices, condominiums, and a hotel situated across from Williams Square’s O’Connor Boulevard.
- Hillwood, the development firm, is constructing a 136-room Starwood Hotel along State Highway 114, with a grand opening slated for this upcoming spring.
- A 123-room Starwood hotel, Elements, is planned at Regent and Belt Line Road.
- Nylo Hotels LLC, which is based in Atlanta, is currently constructing a 200-room five-story hotel, right along the corner of Sierra Drive and Royal Lane.
- Opus West Corp. just broke ground for a second building in its Opus Corporate Center at Las Colinas on State Highway 114.
