The long-awaited Carillon Parc development in the ritzy Dallas-Fort Worth suburb of Southlake is moving forward under a powerhouse development team.
Carillon Crown — a partnership between Farrukh Azim of Banyan Court Capital, Hemanth Golla of High Circle Ventures and John Terrell of Hunter Chase Development Partners — is expected to start construction on the 42-acre project as soon as April or May, the Dallas Morning News reported.
The latest renderings for Carillon Parc include 79 single-family lots, 50 condos, office buildings, a hotel, restaurants, retail space and a 9-acre park.
Homes in the development, at the intersection of State Highway 114 East and North White Chapel Boulevard, are expected to range between $1.5 million and $2.5 million. A $4.5 million water fountain synchronized with lights, music and motion is among the lavish features, the outlet reported.
Hunter Chase acquired the site in 2019 with plans to make headway in 2020, but the pandemic halted the project.
Terrell, a Hunter Chase co-founder, traveled all around Europe and took thousands of photos to find inspiration for the mega-complex.
“What we’re trying to do is create an experiential development that is not competing directly with Town Square but is complementary and provides opportunities for tourism and destination traffic that is exactly what the city of Southlake and its citizens have been requesting for years,” Terrell told the outlet.
The developer plans to stray from chain retail and restaurant tenants, instead focusing on “chef-driven” restaurants and boutique retailers. Terrell expects Carillon Parc will generate more than $400 million in tax revenue for the city, the outlet said.
“You have those opportunities a few times in your life to create something incredibly special,” Terrell told the outlet. “This is one that not only this city but the developers will be extremely proud of.”
—Quinn Donoghue
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