SLX Capital Starts $27 Million Retail Project Near Dallas

SLX Capital has commenced construction on a $27 million shopping center in McKinney.

The Eldorado Neighborhood Shops will span 13.7 acres at the southwest corner of Eldorado Parkway and Stonebridge Drive, catering to the area’s growing population, the Dallas Business Journal reported

Confirmed tenants include Mountain Mike’s Pizza, Chipotle and Willowbrae Academy. A grocery store has also already committed to a 2.2-acre parcel within the center, though the name of the retailer has not been disclosed.

A 1.25-acre pad site set aside for medical or office use has already received multiple letters of intent, SLX Capital partner Ahsan Daredia said.

In addition to Plano-based SLX, the development team consists of DBA Commercial Real Estate, which will handle leasing and pad sales, as well as JAW Architects, XS Construction and Cross Engineering Consultants.

McKinney’s affluent demographics and population density, combined with the lack of retail options in nearby Stonebridge Ranch, made it an ideal location, Daredia said.

McKinney has added more than 19,000 residents in the past five years, and its growth shows no signs of slowing. Furthermore, the median household income stands at $113,286, further solidifying the area as an ideal market for retail investment.

Other major developments underway in the fast-growing Dallas suburb include Cannon Beach, a $200 million surf park featuring a 4-acre lagoon, a hotel, retail spaces, restaurants and 100,000 square feet of office space at the northeast corner of Stacy Road and Texas 121.

Additionally, Transcontinental Realty Investors is developing the Merano, a 216-unit multifamily property expected to be completed this year, located at Heritage Drive and Pearson Avenue.

Whole Foods is also expanding to McKinney with a 50,000-square-foot store at 8701 West University Drive.

— Andrew Terrell