It has been a very busy year for Bright Realty. In October, Bright Realty announced the development of Crown Centre at Castle Hills, a billion dollar office park located in the busy Nebraska Furniture Mart area on State Highway 121. The corporate campus will bring more than 3 million square feet of Class A office and retail space to the growing area.
The company also announced the groundbreaking of its first multi-family project. The first phase of Discovery at The Realm, a luxury product planned with more than 4,000 units projected at build-out, broke ground in November. The mixed-use project will be just south of Windhaven Parkway at Castle Hills Drive in Lewisville. Discovery at The Realms first phase will be developed in three podium-style buildings on 20.372 acres of land. The first available units are planned for an April 2016 delivery with all phase one units delivered by October 2016. Total project costs will be in excess of $75 million.
In residential development news, Bright Realty delivered 379 lots for single-family homes to the Castle Hills master-planned community. In the past year, the company has delivered a total of 523 lots for single-family residential home construction. With these latest lots, the total number of single-family homes in Castle Hills is 3,653, making Castle Hills DFWs fourth largest active master-planned community, with continuous new home construction activity spanning 15-plus years.
Bright Realty reps have also been very busy closing office, retail and medical office deals all over the North Texas area, including leases and sales with tenants such as RaceTrac, Goodwill and WingStop. The company continues to hold exclusive leasing assignments in many North Texas cities including Plano, Allen, McKinney and Prosper and the Castle Hills Village Shops, among others.
Bright Realty brokers closed the sale of the former headquarters of Bright Realty, located at 4228 N. Central Expressway. Bright Industries and its remaining entities had vacated the building in 2013 to relocate to a new office in Castle Hills.
To keep the business community updated on local developments, real estate trends and economic issues that affect the growing DFW area and Lewisville and Castle Hills specifically Bright Realty has also begun hosting Business Breakfast events at The Lakes at Castle Hills. The breakfast meetings feature speakers and Q&A with local experts such as Trent Perry, economic development consultant for the city of Lewisville, who illustrated the plans for immediate and long-term growth in the city of Lewisville.
Bright Realty has been involved in billions of dollars of real estate development, investments and lending since the 1950s, said President and COO Eric Stanley. Our presence is the market is stronger than it has ever been. We anticipate 2015 to be an even busier and bigger year for us.