North Texas is getting another mixed-use development with retail, office, and residential space.
Developers are preparing to break ground on Heritage Park, a planned mixed-use project in Mansfield that will bring roughly 20,000 square feet of retail, restaurant, and medical office space, the Dallas Business Journal reported.
The sprawling 6.5-acre development will additionally include about 60,000 square feet of Class A office space, multiple residential properties, entertainment venues, and an upscale 125-room Courtyard by Marriott hotel, as well as parks and civic areas.
Heritage Park, located along Heritage Parkway and Highway 287 in Mansfield, is being developed by master developer 1ONEFirm Inc. and hotel developer Tekmak Development. Both firms expect the space to become a hub for shopping, residential living, and entertainment.
1ONEFirm CEO Brian Berry said he couldn’t be more excited about the project and the future Heritage Park, which is expected to break ground in 2024.
“We asked Jason Moore, executive director of MEDC, as well as City Manager Joe Smolinski what was most desired and needed on this stretch of U.S. Highway 287 and the answers were essentially identical,” said Berry in a prepared statement.
Both wanted “a place for the large corporations [that] desire to relocate to Mansfield to house their operations in a multi-story Class A+ office building and to bring the highest level hotel that we could to support the office and retail components, and that’s exactly what we’re going to do,” he said, per the DBJ.
As the hotel developer for the project, Tekmak Development CEO Tom Kirkland said he is honored to work with 1ONEFirm and the City of Mansfield to deliver a custom Courtyard by Marriott to the area.
Heritage Park will be developed in multiple phases, with the first phase of the project anticipated to create as many as 250 jobs and generate an estimated $70 million in ad-valorem tax.
“This development is a testament to the continued growth and vibrancy of Mansfield,” Mayor Michael Evans said in a prepared statement, per DBJ. “Heritage Park will not only enhance our city’s economic strength but will also provide our residents with new opportunities for leisure and entertainment. We are thrilled to welcome this transformative project to our community.”
North Texas is a hub for job opportunities, company relocations, and much more. To attract these economic prospects, cities like Mansfield encourage developers to build — particularly expansive mixed-use developments with retail, office, and residential space that can help support and accelerate the area’s growth.
The City of Dallas shares this desire for economic development. However, many developers are hindered by the city’s delay-prone permitting process, particularly on the commercial side, where permits still take several months to approve, as previously reported by The Dallas Express.