Addison is betting big on its rail stop.
The Dallas suburb’s city council approved a $240 million development agreement with Quadrant Investment Properties for Addison Junction, a 14-acre project planned next to the coming Silver Line Dallas Area Rapid Transit station, the Dallas Morning News reported.
The deal clears the way for a district anchored by a 155,000-square-foot timber office building, a 140-key boutique hotel, and 30,000 square feet of entertainment space. The plans also call for The Hangar, a 12,000-square-foot aviation-themed event venue, along with rooftop patios, restaurants, public plazas, and a Texas-style beer garden.
The development will connect directly to Addison Circle Park and the Cotton Belt Trail Corridor, part of the region’s 57-mile hike-and-bike system.
Addison is chipping in $40 million for infrastructure and two parking garages, while Quadrant is expected to put up more than $200 million in private capital. City leaders project the development will support more than 1,600 permanent jobs and generate over $300 million in annual economic output once built. Construction is slated for 2026, though no tenants have been signed for the office space, and the hotel operator is still under negotiation.
The project is years in the making. Addison began acquiring land along the rail line in the 1980s, anticipating future transit-oriented development. In 2019, the city adopted a special area plan to guide growth around the Silver Line station.
The deal with Quadrant replaced a $472 million plan with Stream Realty Partners and Amli Residential that included housing. Changing market conditions and a shift in partners redirected the vision toward a commercial and entertainment-heavy mix.
The development will plug directly into the 26-mile Silver Line, linking Plano, Richardson, Carrollton, Cypress Waters, Dallas and DFW International Airport. The project joins a wave of transit-oriented bets as North Texas suburbs look to turn commuter rail into an economic engine.
— Eric Weilbacher
Read more
Quadrant, FCP pursue third office project in Dallas Design District
Trinsic plans apartments near DART line
AMLI, Stream to oversee $472M mixed-use development in Addison
Acram plans $12.5M renovation of Spectrum Center in Addison
