KDC Plans 805 New Apartments in Major Expansion at Richardson's CityLine East

KDC, a Dallas-based firm, is looking to expand CityLine East, a significant corporate campus in North Texas. The firm seeks approval to increase residential units and add more open spaces within the 62.5-acre CityLine East, part of the larger 186-acre CityLine mixed-use hub in Richardson.

Current and Proposed Developments

CityLine East currently includes a 570,000-square-foot office building and three multifamily properties with a total of 805 units. KDC’s proposal, if approved, would raise the number of residential units to 5,100. The aim is to increase the population of residents who live and work in CityLine, enhancing support for the development’s amenities.

The Vision for CityLine

CityLine, encompassing 2.5 million square feet of office space, 3,925 residential units, and 230,000 square feet of retail, entertainment, and restaurant space, is poised for a new phase of development. The mixed-use nature of CityLine has helped it remain resilient, despite challenges faced by the office sector during the pandemic and the shift towards remote work.

Support and Financial Background

The expansion proposal has received support from various stakeholders, including Jordan Mellovitz, head of real estate investment at 3Edgewood LLC. KDC has invested approximately $1.5 billion in building CityLine. Recently, former Phoenix Suns owner Robert Sarver acquired the campus from South Korean-based Mirae Asset Global Investments and Houston-based Transwestern Investment Group.

KDC’s Other Projects

KDC is also involved in other significant projects, such as the 30-story Parkside Uptown office tower in Uptown Dallas, with Bank of America as the anchor tenant. Additionally, KDC is leading the development of Wells Fargo’s regional headquarters in Irving, showcasing its ongoing commitment to high-profile developments in the region.