Stillwater Capital is giving back to the Dallas-Fort Worth suburb that’s allowing it to embark on a 200-acre mixed-use development.
The Dallas-based firm has sold nearly 10 acres to the city of Mansfield, the Dallas Morning News reported. The land will be used to build a new city hall and town square, anchoring Stillwater’s project, called The Reserve.
The development, roughly 30 minutes southeast of Fort Worth, between U.S. 287 and Texas 360 will feature a mix of retail, office, medical space, residences and a hotel. The Reserve will be centered around a large green space and entertainment venues, offering a slew of public amenities.
The retail and residential portions are partially constructed, with the new city hall next in line to be developed. Stillwater is expected to release a detailed master plan this summer.
Mansfield is one of many DFW suburbs that’s seeing a surge in development activity. A venture of 1ONEFirm and Tekmak Development, for instance, is spearheading Heritage Park, a mixed-use project slated for a 125-room hotel, 60,000 square feet of office space and 20,000 square feet of retail, restaurant and medical space.
The city is also collaborating with Hoque Global on a $65 million mixed-use complex called Smith & Elm, situated in Mansfield’s historic downtown district, the outlet said.
Stillwater, meanwhile, has been active in various parts of the metroplex. In Plano, the firm is plotting a $70 million, 569,000 square-foot apartment complex at Spring Creek Parkway and Parkwood Boulevard. The 700-unit project will be part of Haggard Farms, a 142-acre development that will include office, retail, a hotel and dozens of acres set aside for a park and green space.
The firm is also contributing a $20 million, 189,000-square-foot office building to Haggard Farms.
Stillwater is involved in other high-profile projects in the area. Next to the new PGA of America headquarters and resort in Frisco, Stillwater is working on a $1 billion, 240-acre mixed-use project, called the Link.
—Quinn Donoghue
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