Build-to-rent and 1M sq ft industrial for Grand Prairie
Dallas suburb will decide rezone for Mill Creek Residential and Scannell Properties
Three major industrial projects and a build-to-rent community go before the Grand Prairie City Council in December, after a recent postponement at city hall.
Almost a million square feet of industrial space is planned for the Dallas/Fort Worth suburb by one developer, Indianapolis-based Scannell Properties, the Dallas Business Journal reports.
Scannell broke ground on another warehouse, 820 Crossing, in the Fort Worth suburb Haltom City earlier this year. The company also plans to build out a 401,000-square foot industrial facility in Laredo, in South Texas, for about $34 million.
The three Grand Prairie buildings are planned for a 72-acre tract along North Belt Line Road and Shady Grove Road and are expected to span 463,900, 293,400 and 242,000 square feet. The lot is currently home to a trailer leasing company and mobile home park that has reportedly been closed.
Meanwhile, Dallas-based Mill Creek Residential is planning Amavi Grand Prairie, a 269-unit single-family rental community. It would sit on a 38-acre site that lies within half a mile of the city’s Grand Central Park.
“Grand Prairie is a highly sought-after submarket, and there is very little land left to be able to design and develop a purpose-built single-family rental community of this caliber,” said Aubrey Dym of Mill Creek Residential.
Dym said the project should appeal to renters looking for more open space with access to the metroplex.
“The cost of homeownership has become unattainable for so many people in the last several years, especially as interest rates have skyrocketed,” she said.
— Maddy Sperling