10-18-2013 10:33 AM

Westlake a step closer to getting first mixed-use project

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A developer would like to break ground on a European-inspired mixed-use project in Westlake, which would be the first mixed-use development in the town. The project would resemble the 45-acre town center, Adriatica Village in McKinney.




Carrollton-based Centurion American Development Group is one step closer to breaking ground on a massive 85-acre European-inspired mixed-use development in Westlake.
The project, Westlake Entrada, which was originally projected to cost $500 million, sits on the tract of land at the northeast corner of Davis and Solana boulevards near the Solana Business Park.
Westlake Entrada received approval from the town's Planning and Development Department earlier this week, and, if approved by the Town Council, could move dirt by the end of the year, Eddie Edwards, Westlake's planning and zoning director, told the Dallas Business Journal.
"They will have the ability to put commercial and residential development on the site," Edwards told me. "The development plan will be market driven, so if it warrants more retail space or more office space, they can change it."
Centurion is working with Jeffory Blackard on the project, according to city documents. Blackard worked on a similar European-inspired project, Adriatica Village in McKinney. Maguire Partners-Solana Land LP, a company affiliated with Mehrdad Moayedi, is the property owner.
The developer tweaked the original plan -- the one originally estimated to cost $500 million -- to eliminate apartments from the plan, which Westlake residents voiced concern over earlier this year, Edwards told me. Now, the project is expected to cost a little less, he said.
The project could eventually house Westlake's town hall building, but a deal has yet to be struck between the municipality and the developer, Edwards said.
Other plans include retail shops, restaurant, medical offices, entertainment options, residential homes, and offices surrounding a major water amenity, which would include a signature bridge that looks reminiscent of the Rialto Bridge in Venice.

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Candace covers commercial and residential real estate and sports business.


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