The Frisco City Council okayed a 1.4-acre expansion of Kaleidoscope Park, adding a new water feature, an outdoor video screen and a stage.

The new plans also include a 1,100-space parking garage with a 12-story office building. It will rise on a 2.7-acre redevelopment site east at 6635 Warren Pkwy.

The total cost for the Kaleidoscope Park expansion is $14 million, with developer Hall Group Management and the Frisco CDC each contributing $7 million. The Kaleidoscope Park Foundation is responsible for the design and construction of the expansion.

Construction for the park expansion, garage and office tower is expected to begin in early 2026 and finish by June 30, 2028.

Published reports estimate that the total cost of the parking structure and office tower is about $90 million.

Hall Group will receive a $7 million grant from the FEDC for infrastructure improvements. The city will also issue $40 million in tax increment reinvestment zone funding to construct the parking garage.

Balfour Beatty Campus Solutions has been selected to deliver a new student housing project on Whitis Avenue at The University of Texas at Austin (photo).

The project, valued at $145 million, will deliver 1,070 beds. Demolition and site preparation commenced in June 2024 with the new facility set to open for the Fall 2027 semester.

This new housing project is the first new residence hall to be constructed on campus in nearly 20 years. It will replace the previous housing structures that consisted of 200 beds in six buildings. The new facility will feature a mix of single and double rooms with community bathrooms, an area housing office, and a variety of student amenities, including lounges, study spaces, and a university-managed conference center to accommodate events of all sizes.

The project team includes general contractor Andres and architects Clark Nexsen & Levy Dykema.

Fuquay-Varina had 18,000 people in 2010. Now it’s near 40,000, and town leaders are moving fast to accommodate the growth. A rezoning was for nine parcels totaling 87.98 acres that went from residential agriculture to commercial mixed-use.

A development, to be called Vaughan Park, will include a medical building, two multifamily buildings, six commercial buildings and six mixed-use buildings. The multifamily projects will consist of 742 units. DR Horton is the lead developer. In addition to the commercial component, the company will also build hundreds of homes.

The project will be divided into two distinct developments, each with its own unique features. Amenities for the west side will include a swimming pool, a promenade with public art, two playgrounds and a greenway around the wetlands and ponds.

The east side’s amenities include a swimming pool, clubhouse, a playground, food truck area with shelter and a dog park.

The City of Scottsdale has agreed to pay back Advanced Semiconductor Materials for the infrastructure requirements for its new north Scottsdale headquarters and research facility. As a quid pro quo, ASM must construct its new 400,000-square-foot facility, add 500 jobs with an average wage of $110,000 and achieve a payroll of $55 million.

The Phoenix Business Journal reports ASM’s expected capital expenditure for its new headquarters would be more than $400 million between the land acquisition, project buildout and equipment housed within the facility.  ASM purchased nearly 24 acres near the southeast corner of Scottsdale Road and Loop 101 — the site of its new headquarters. ASM America bought the land for more than $33 million

ASM designs and supplies wafer processing equipment to customers, primarily for the deposition of thin films — a fabrication process used in semiconductor manufacturing.

ASM’s existing headquarters is at 3440 E. University Drive near Phoenix Sky Harbor International Airport.

The DeKalb County Board of Commissioners rezoned land surrounding the Indian Creek station, the final stop on the Blue Line located off Durham Road and adjacent to Interstate 285. The approval will allow for a dense makeover of the 64-acre site.

The Indian Creek plan includes a 20,000-square-foot grocery store, 20,000-square-foot community center, 1,600 apartments, 300,000 square feet of office space, 2,500 square feet of food and beverage space, 4 acres of parks and green space and a 45,000-square-foot bus transfer facility.

The proposal is part of MARTA’s broader strategy to boost ridership by placing people on the doorstep to transit. The agency tends to provide land to developers through ground leases, supplying MARTA with an additional revenue source and allowing it to retain control over what takes shape around its stations.

MARTA plans to issue a request for proposals later this year to identify a development partner for the first phase of the project.

The City of Jacksonville has approved a building permit for a $215.1 million Four Seasons Hotel & Residences on the town’s Northbank riverfront. Jacksonville Jaguars owner Shad Khan secured the permit for the 170-room hotel, including 26 residential units. The ten-story building will include a spa, four dining and lounge outlets, ballrooms, bars, pools and other amenities. The approved project will be next to Khan’s future six-story office building, which was okayed two weeks ago.

The permit calls for constructing a 225,346-square-foot hotel at the Shipyards, where construction has already begun, mainly underground, at both the hotel and office building.

As Shipyards development permits are issued, The Jacksonville Business Journal reports that the Jaguars have pledged to develop an additional $100 million at the site in their tentative stadium agreement with the city, which is expected to be approved in the next few weeks.

The New Mexico Behavioral Health Institute (NMBHI) is gearing up to build a new $98 million forensics unit to better facilitate competency restoration services, a set of mental health interventions that restores a defendant’s competency to stand trial. 

The 115,000-square-foot facility will be located at 3695 Hot Springs Blvd. in Las Vegas, New Mexico. Studio Southwest Architects is designing the building, which is expected to break ground this October. Albuquerque Business First reports the current facility is located at the same site and should be demolished once the new center is built and occupied. A search for a contractor has not begun yet.

State capital outlay funds will finance the project. The facility, which is operated by the NMBHI, will employ 120 full-time workers. The original forensics unit was built in the early 1970s. The 116-bed facility consists of four inpatient psychiatric care units: acute care, continuing care, women’s care and maximum security. The complex is staffed 24 hours per day and is surrounded by a fence to help maintain security.

Phoenix’s CRE industry leaders and power players are connecting at Connect Phoenix Multifamily & Single-Family Build-to-Rent on April 18 at The Westin Kierland Resort & Spa. Don’t miss getting expert insights into where the local housing and job markets are headed, and what changes are on the horizon. Register Now!