42 Real Estate, SLJ to add Resi to DFW Retail-Industrial Project

Developers behind a large retail and industrial development in Mesquite weren’t quite satisfied, as they’re now plotting a residential component as well.

An LLC formed by principals of development firm 42 Real Estate and commercial brokerage SLJ Company want to add apartments to the project, which is slated for a 180,000-square-foot shopping center and 3.2 million square feet of industrial and commercial space, the Dallas Business Journal reported.

The 235-acre development, about 20 minutes east of Dallas, off Lawson Road, received approval from the Mesquite City Council in 2022. The developers are requesting to rezone the site, allowing for multifamily within the retail portion.

Specifics regarding the residential component are unclear, including number of units, but neither 42 Real Estate nor its associates will undertake the multifamily development themselves. The zoning proposal is set to be reviewed by City Council on April 1.

It was previously reported that construction could start in early 2024.

Mesquite, the 11th largest city in Dallas-Fort Worth, has experienced stagnant growth in recent years. However, it faces a pressing need for additional housing, with nearly 9,000 units required to satisfy demand, according to a recent housing study conducted by the city.

Separately, Mesquite City Council considered three multifamily projects on March 4, approving only one. The sanctioned project, spearheaded by Cleveland-based NRP Group and the Mesquite Housing Finance Corporation, calls for a 288-unit complex near interstates 635 and 30, the outlet reported.

While Mesquite hasn’t experienced explosive growth in recent years like the north Dallas suburbs, a few transformative projects are on the horizon. Stream Realty Partners, for instance, is developing a 3.4 million-square-foot industrial park in the area.

—Quinn Donoghue