Dallas-based developer Stillwater Capital has started construction on an 84-acre mixed-use development in Allen, Texas. Known as the 121 Technology Park, the project has been in the works since last year and includes industrial, office, retail, and residential buildings. The undeveloped land is situated in an area undergoing major new construction along State Route 121 and Chelsea Boulevard.
The first phase of the project will feature four industrial buildings with 370,000 square feet of space for warehouse and manufacturing activities. Additionally, future construction will include two 200,000-square-foot office buildings and 130 townhomes. The modern aesthetic design of the 121 Technology Park meets the needs of research and technology firms within its contemporary workspaces and high-visibility placement along State Route 121, according to Stillwater.
The Allen Project is the latest addition to Stillwater Capital’s portfolio of industrial developments. The company’s commercial real estate projects are spread across North Texas in various diversified formats. It recently leased a large 900,000-square-foot warehouse in Mesquite, which is now one of the largest industrial deals in Dallas-Fort Worth. Additionally, the developer is a partner of Omni PGA Frisco Resorts and PGA Headquarters in Frisco, and it is involved in the billion-dollar The Link mixed-use project in Frisco. Stillwater also has apartment projects in other Texas cities, including Dallas, Austin, and San Antonio.
In conclusion, 121 Technology Park is a strategically-designed mixed-use development that aims to fulfil the needs of a variety of businesses and residents in the area. Its unique design and prominent placement make it an attractive location for research and technology-based companies seeking top-notch workspaces. Based on Stillwater’s track record of successful commercial real estate ventures, this project looks promising.