Introduction to Addison Junction
A $240 million mixed-use project planned near the Addison Circle Silver Line DART station has received key approval from city leaders. The Addison City Council approved a development agreement with Dallas-based Quadrant Investment Properties for the Addison Junction project. This project aims to transform the area into a vibrant and bustling hub of activity, with a unique blend of office, hospitality, and entertainment spaces.
What’s Included in the Project
The 14-acre district will include a more than 155,000 square foot timber office building, a 140-room boutique hotel, 30,000 square feet of entertainment space, and The Hangar — a 12,000 square foot aviation-inspired event venue. Restaurants, Texas-themed beer garden Van Buren’s, rooftop patios, and public plazas will help link the development to Addison Circle Park and the Cotton Belt Trail Corridor, part of the 57-mile regional hike-and-bike system.
Phase One of the Project
Phase one of the project will be 30,000 square feet of entertainment-focused retail that includes the beer garden and a farmer’s market. This initial phase will set the tone for the rest of the development, providing a unique and exciting experience for visitors and residents alike.
Investment and Economic Impact
As part of the agreement, Addison will invest $40 million in infrastructure and two parking garages, leveraging more than $200 million in private development. City officials estimate Addison Junction will generate more than $300 million in annual economic output and support more than 1,600 permanent jobs. Groundbreaking is expected in 2026, marking the beginning of a new era for the city.
Development and Planning
The city began assembling land around the rail corridor in the 1980s in anticipation of future light rail service. In 2019, Addison adopted the Addison Circle Special Area Study to guide development around the Silver Line station. Earlier concepts for the project included residential development, but changes in the market and development partnerships resulted in the plans focusing on commercial and entertainment uses, city officials said.
Previous Plans and New Developments
In 2022, Addison picked Dallas’ Stream Realty Partners and Amli Residential to build an 18-acre, $472 million mixed-use project surrounding the rail station. This new deal replaces that previously planned project, offering a fresh and innovative approach to the development of the area.
The DART Silver Line
The DART Silver Line will run through Addison, placing the northern city on a 26-mile commuter rail system linking Plano, Richardson/UT Dallas, Carrollton, Cypress Waters, Dallas, and DFW International Airport. This will provide convenient and efficient transportation options for residents and visitors, making Addison an even more attractive destination.
Benefits and Opportunities
“Addison Junction offers a rare canvas to provide a destination pedestrian-oriented district that will bring together office, hospitality and entertainment on one of the last infill sites of scale in DFW,” Chad Cook, Quadrant’s founder and managing partner, said in a statement. This project will not only enhance the local economy but also provide a unique and enjoyable experience for those who live, work, and visit the area.
Conclusion
The approval of the Addison Junction project marks a significant milestone in the development of the city. With its unique blend of office, hospitality, and entertainment spaces, this project is set to transform the area into a vibrant and bustling hub of activity. As the city continues to grow and evolve, Addison Junction is poised to play a major role in its development, providing a unique and exciting experience for residents and visitors alike.
FAQs
Q: What is the Addison Junction project?
A: The Addison Junction project is a $240 million mixed-use development planned near the Addison Circle Silver Line DART station. It will include a timber office building, a boutique hotel, entertainment space, and an aviation-inspired event venue.
Q: What is the expected economic impact of the project?
A: City officials estimate that the project will generate more than $300 million in annual economic output and support more than 1,600 permanent jobs.
Q: When is the groundbreaking expected to take place?
A: Groundbreaking is expected to take place in 2026.
Q: What is the DART Silver Line?
A: The DART Silver Line is a 26-mile commuter rail system that will run through Addison, linking Plano, Richardson/UT Dallas, Carrollton, Cypress Waters, Dallas, and DFW International Airport.
Q: How will the project benefit the local community?
A: The project will provide a unique and enjoyable experience for those who live, work, and visit the area, while also enhancing the local economy and providing convenient transportation options.
