The North Henderson Avenue mixed-use project will consist of 10 buildings and public spaces. Image courtesy of GFF, courtesy of Balfour Beatty
Acadia Realty Trust and Ignite-Rebees have begun construction on a $95.5 million mixed-use project on North Henderson Avenue in Dallas. Balfour Beatty is serving as the general contractor for the 161,000 square foot development, which is expected to be completed by fall 2026.
The project, designed by Dallas-based architecture firm GFF, is taking shape on a roughly 4.8-acre site on the east side of North Henderson Avenue that has been vacant for decades. The area will be beautified with new road pavement, decorative crosswalks, landscaping, and buried utility lines.
Once completed, the campus will consist of 10 buildings and public spaces, spanning a quarter-mile stretch of North Henderson Avenue between Glencoe Street and McMillan Avenue. The area will be transformed into a walkable destination with retail brands, chef-driven restaurants, and Class A office space.
Plans call for 75,000 square feet of retail space, 74,000 square feet of office space, 12,000 square feet of restaurant space and 500 underground parking spaces. Open Realty Advisors will handle retail leasing. Newmark will lease the office space, which will be named Henderson East.
long term project
D Magazine reported that the project has been in the works since at least 2018, when the rezoning was approved. New York-based Acadia Realty Trust will sell 15 retail assets and future development and redevelopment sites on Henderson Avenue for $85.4 million in April 2022, according to the REIT’s second-quarter 2022 earnings report. Obtained in dollars.
Henderson Avenue’s portfolio includes well-known retailers such as Warby Parker, Tecobus and Bonobos, Sprouts Farmers Market and some of the city’s most popular restaurants. “The Henderson Avenue retailer and restaurateur’s demonstrated success serves as a promising proof of concept going forward,” the earnings report said.
Located in East Dallas, our existing portfolio and planned developments are in close proximity to some of the city’s most affluent communities, including Highland Park, University Park, Uptown, and Lakewood.
Acadia said it plans to add retail and office space to further connect and revitalize the already thriving Henderson neighborhood. According to D Magazine, Acadia has partnered with Dallas-based Ignite Levy’s. The company is a joint venture between famed Dallas restaurateur Tristan Simon and Mark Masinter, founder of Open Realty Advisors and chairman of Newmark Global Retail. Simon, Open Realty and CIM Group, which later sold the portfolio to Acadia, had purchased the property along Henderson in 2012.
Focus on mixed use
For Dallas-based Balfour Beatty, the Henderson project gives the national construction company another chance to add to its hometown portfolio. This will be the company’s latest mixed-use project in Dallas, where the company is currently working with ANDRES Construction Services for joint venture partners MSD Partners, Trammell Crow Co., The Retail Connection, and Highland Park Village Associates. is working on the Knox Street mixed-use development.
Balfour Beatty also completed Epic II, a 23-story Class A office building in the Deep Ellum Epic mixed-use development. The tower features 480,000 square feet of office space over 16 stories with a 70,000 square foot amenity level and 665,000 square feet of parking.
