Meet The Leaders (And Projects) Furthering North Texas’ Resilient Commercial Real Estate Market
In a year of unprecedented challenges, the Dallas-Fort Worth real estate community powered through with notable projects and deals.
By
Bianca Montes and Christine Perez
Published in
D CEO
April
2021
Portraits by Sean Berry, Headshots and Project Images Courtesy of Companies
North Texas commercial real estate players have survived some huge downturns over the years, from transformative tax-law changes to energy crises and tech busts. Those challenges pale in comparison to the pervasive COVID-19 pandemic that took hold in early 2020.
Retail stores and office buildings emptied, and with no historical frame of reference, no one knew what to expect or how to plan for the future. Local industry professionals responded in true resilient form, closing deals, developing new projects, and stepping up to support a community in need.
Meet the Finalists: Developers From Provident Realty, Bright Realty, Cawley Partners, Presidium, and JPI
Five of the region’s most active developers weigh in on pandemic innovations, finding new opportunities, and what’s ahead.
On April 28, D CEO will announce the winners of its ninth annual Commercial Real Estate Awards program. Leading up to the event, we’re featuring all 83 finalists (51 projects and deals and 32 professionals), category by category. Today, we’re sharing excerpts from interviews with the five Developer of the Year honorees.
Leon Backes
Provident Realty Advisors
WHY DEVELOPMENT: “I was in business school at the University of Missouri and had taken a real estate course as an elective. A young developer came to speak for career day and explained how he had just developed a grocery-anchored shopping center. Listening to him was like a lightbulb going off for me. From then on I knew I wanted to pursue commercial real estate
FORT WORTH, TX - Presidium, a diversified real estate development, investment and management firm, has broken ground on Presidium Berkshire, a 352,000-square-foot, 340-unit luxury apartment community just minutes from one of Fort Worth’s most sought-after entertainment districts, Alliance Town Center (ATC). Presidium Berkshire is the second of three planned Presidium projects for the immediate area, which will total approximately 1,100 apartment units within the next four years. The firm’s first delivery in this area was the recently completely 408-unit Presidium Revelstoke, and the third part of this development plan will be an adjacent, yet-to-be-announced project with up to 350 multifamily units.
Builders plan 1,100 apartments in North Fort Worth near Alliance Airport
Presidium is putting up the 340-unit project, its second in that area.
Presidium Berkshire apartments are being built near Alliance Town Center.(O’Brien Architects )
Developers have broken ground on a North Fort Worth rental community – part of a plan to bring 1,100 new apartments to the area near Alliance Airport.
Texas-based apartment builder Presidium has started construction on its 340-unit Presidium Berkshire apartments on Berkshire Lake Boulevard near Alliance Town Center, which is on Interstate 35W.
“North Fort Worth is experiencing explosive growth,” Presidium’s John Griggs said in a prepared statement. “The area has emerged as one of the largest logistics hubs in the country and also has drawn in numerous Fortune 500 companies including Charles Schwab, Facebook, Amazon, BNSF Railway and Bell.”
FRISCO, TX - Presidium, a diversified real estate investment and management firm, has completed construction on Presidium at Edgestone, a 188-unit, 165,398-square-foot luxury age-restricted active adult community. Presidium at Edgestone is located near more than $5-billion worth of commercial and retail developments in Frisco, which was recently recognized as having the highest growth rate than any other U.S. city in the past decade by the Census Bureau. Designed by Cross Architects and SeeSaw Creative, the community offers freestanding independent living cottages, in addition to a residential building with plentiful amenities.
“With Frisco being one of the most burgeoning cities in the nation, Presidium at Edgestone meets the need of luxury housing for adults who are still seeking independence and activity,” said John Griggs, Co-CEO and Co-Founder of Presidium. “We have been looking forward to opening Presidium at Edgestone’s doors and being a part of the wonderful growth