A substantial new development called The Alexander, valued at $68 million, is in the pipeline for Mansfield.
The venture set to develop approximately a lot of 654,000 square feet into 388 housing units is spearheaded by Dallas-based BV Capital, according to the Dallas Business Journal.
The Alexander, situated at 1725 East Broad St., will feature two pool courtyards and other amenities once completed in 2025.
While BV Capital has not responded to DBJ’s requests for comment, the firm is also developing another site for multifamily housing near the Shops at Broad Street.
The Alexander is slated to break ground by the end of the year, with several other development projects already in the pipeline for the City of Mansfield — a southern suburb in the Dallas-Fort Worth metro.
These cities have been targeted by developers due to their potential for economic growth, while the slow permitting process in Dallas has contributed to a deceleration of commercial and residential projects.
As previously covered in The Dallas Express, the City’s extensive multi-year backlog of building permits nearly cost Dallas City Manager T.C. Broadnax his job in 2022.
Meanwhile, real estate development in the metroplex is booming elsewhere, including in Mansfield.
In March, the development of a new film studio called Mansfield Super Studios broke ground, as previously covered in The Dallas Express. The $70 million project is predicted to turn Mansfield into a film-making hub in the Lone Star State, with around 2,000 jobs to be created.
This project and another roughly $500 million mixed-use development known as The Village at Southpointe were granted incentive packages by Mansfield City Council earlier this year.
Austin-based developer Chisholm Flats is behind the extensive project that will include up to 1,000 upscale multifamily units and 100,000 square feet of retail space over a 54-acre site at the northeast corner of Lone Star Road and Highway 287.
