Goldman Sachs Tops Out on New Campus in Dallas
Goldman Sachs has topped out on its highly anticipated campus on Field Street next door to Victory Park — a major milestone for the Y’all Street project. The firm celebrated the milestone during a ceremony on Wednesday afternoon.
“This project’s been underway for a couple of years now. …So to see it come out of the ground and to effectively have the outside done — it’s a great milestone,” Aasem Khalil, global head of investment banking client services and head of the Dallas office, said ahead of the event.
The ceremony comes one day after state filings show the New York bank will now spend an estimated $709 million on the campus.
A filing with the Texas Department of Licensing and Regulation showed the estimated cost to finish the interior of the office campus will be $209 million.
The project’s cost was originally estimated at $500 million. Details in TDLR filings are preliminary and subject to change.
The new campus builds on the firm’s longstanding commitment to North Texas. The New York bank has been in the Dallas since 1968, and the region is already home to the firm’s second-largest office in the United States, Khalil said.
The 800,000-square-foot campus at 2323 N Field St. will house more than 5,000 employees. Goldman selected Texas-based Rottet Studio, Skidmore, Owings & Merrill and Corgan to handle the project’s interior.
Renderings of the new campus interiors were released last month.
The campus sits on the 11-acre, mixed-use NorthEnd development that belongs to Dallas-based Hunt Realty. Ross Perot Jr.’s Hillwood is teaming with Hunt to build Goldman’s new Dallas home.
The development is expected to be completely finished by 2028.
Real Estate News and Updates
First Residential Community Breaks Ground at Firefly Park
Wilks Development has broken ground on The Noc, the first residential community at Frisco’s Firefly Park.
It’s the first vertical construction within the 217-acre, mixed-use development. Construction began in late September and is expected to be finished in the fall of 2027.
The complex will feature 187 apartments, including studio, one-, two- and three-bedroom units.
Andres Construction, a Dallas-based general contractor with multifamily experience, is leading construction. The project includes $46.8 million in HUD financing arranged by Mason Joseph Real Estate.
At full build-out, Firefly Park will include more than 3 million square feet of Class A office space, 400,000 square feet of retail and entertainment, 1,200 hotel rooms, 230 townhomes and roughly 2,000 apartments.
Hillwood Brings New Apartments to Frisco
Hillwood has begun development on Bonham & Baker, a 410-apartment community at Frisco Station.
The complex, located within the 242-acre master-planned, mixed-use development in Frisco, will begin pre-leasing in spring 2027.
The first units are expected to be finished in summer 2027, and the project’s estimated completion date is spring 2028.
The complex will include one- and two-bedroom apartments as well as three-bedroom, two-story townhomes.
Bonham & Baker is located at the intersection of John Hickman Parkway and Gridiron Road. It is Hillwood’s fourth apartment community in Frisco Station. When the project is complete, Frisco Station will include 1,665 apartments, 650,000 square feet of Class A+ office space and three luxury hotel brands.
Good Fulton & Farrell is the architect on the project with Rampart Multifamily as general contractor and J.P. Morgan as lender.
Mesquite Industrial Property Changes Hands
A New York-based real estate investment firm is the new owner of an industrial center in Mesquite.
W. P. Carey purchased 2800 Skyline, a Class A industrial distribution center. The center is more than 750,000 square feet, and the transaction closed in September.
The facility, completed in 2025, sits on 40.4 acres and is leased to Canadian Solar, one of the world’s largest solar technology and renewable energy companies.
JLL represented the seller, a joint venture involving Capstar Real Estate Advisors. Terms of the deal were not disclosed.
The JLL investment sales and advisory team was led by executive chairman Jody Thornton, industrial group co-head and senior managing director Trent Agnew, senior director Tom Weber, director Pauli Kerr, and analysts Ben Pollack and Michael Jankovich.
New Apartments Completed in Downtown Frisco
Developer JPI says it has completed new apartments at Frisco Railhead, a $3 billion mixed-use development project in downtown Frisco.
The communities are called Jefferson Railhead and Jefferson Parkhouse, and the first two phases include 903 apartments.
Located at 10221 Whistle Stop Lane, Jefferson Railhead offers a mix of studio, one- and two-bedroom apartments and is currently 60% leased. Jefferson Parkhouse, located at 10450 Whistle Stop Lane, includes studio, one-, two- and three-bedroom layouts and is 17% leased.
The third phase is expected to break ground in 2026 and will include 377 units.
According to a news release, Frisco Railhead is an 80-acre project that will include:
- 1,300 apartments
- a 17-story hotel with condos on the top two floors
- 36,000 square feet of retail space
- 1.5 million-square-foot office campus
- 5-acre central park
Conclusion
The recent developments in the Dallas real estate market are a testament to the city’s growing economy and attractiveness to businesses and residents alike. From the topping out of Goldman Sachs’ new campus to the completion of new apartments in downtown Frisco, there are many exciting projects underway. As the city continues to grow and evolve, it will be interesting to see how these developments shape the future of the Dallas real estate market.
Frequently Asked Questions
Here are some frequently asked questions about the recent developments in the Dallas real estate market:
Q: What is the estimated cost of Goldman Sachs’ new campus?
A: The estimated cost of Goldman Sachs’ new campus is $709 million.
Q: How many apartments will be included in the Frisco Railhead development?
A: The Frisco Railhead development will include 1,300 apartments.
Q: What is the expected completion date for the Bonham & Baker apartment community in Frisco Station?
A: The expected completion date for the Bonham & Baker apartment community in Frisco Station is spring 2028.
Q: Who is the new owner of the industrial center in Mesquite?
A: The new owner of the industrial center in Mesquite is W. P. Carey, a New York-based real estate investment firm.
