Embrey at The Gate: How this developer landed the first piece of a $1B Frisco project
The Dubai-based developers behind The Gate, a $1 billion, 41-acre mixed-use development near the Dallas Cowboys' new headquarters in Frisco, had been searching for partners to help build the palatial project for months.
Now, Invest Group Overseas has found the first of its development partners in San Antonio-based Embrey Partners Ltd., which has a number of projects in Dallas-Fort Worth.
An Aerial view of The Gate in Frisco, which is a 41-acre palatial mixed-use development near the Dallas Cowboys headquarters in Frisco.
Embrey Partners finalized its agreement to build a multimillion-dollar, three- to five-story upscale apartment community — called the Domain at The Gate — totaling 350 units at the Dallas North Tollway and John Hickman Parkway in Frisco, which is north of the Dallas Cowboys new headquarters and practice facility. Show Full Story
Upon signing the agreement on Sept. 30, Embrey Partners has begun construction on the site, said John Kirk, executive vice president of Embrey Partners.
"We are underway with the project and excited to be in Frisco's $5 Billion Mile off the Tollway," Kirk told the Dallas Business Journal."There was a lot of buzz and a lot of competition for the site.
"We were able to forge a relationship with the land owner and they have been great to work with," he added. "This will be phenomenal when all is said and done. We are excited to be the first project within The Gate."
At completion, The Gate will include two additional phases of apartments, a two-tower luxury condo tower, 40 two-story townhomes, office buildings and a luxury hotel at the marquee corner of the Dallas North Tollway and John Hickman Parkway.
The mixed-use development will have an ornate gate-like entrance that will help identify The Gate to residents and visitors. The developers are in the midst of reviewing proposals by hotel operators for the 140- to 150-key hotel with a Turkish bath and fully outfitted spa.
Frisco's much-touted $5 Billion Mile includes $6.3 billion of real estate investment along the Dallas North Tollway from Warren Parkway to Lebanon Road. The epicenter of the mile sits at the Dallas Cowboys' world headquarters and practice facility, which was developed in partnership with Frisco Independent School District.
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For Invest Group Overseas, the development group couldn't have made a better choice, said Dr. Anas Kozbari, the Dubai-based firm's CEO and managing partner.
"We are fully confident of Embrey Partners' credentials and capability to deliver excellent work," Kozbari said, in a statement. "IGO is renowned for pioneering landmarks wherever we have ventured, and together with Embrey, The Gate will certainly mark another corporate milestone for us.
"We see The Gate development as a destination that will pull huge traffic from all over the Dallas Metroplex," he added.
The Domain at The Gate will help set the tone for the entire mixed-use development, Kirk said. The designs of the apartment portion of the project have yet to be finalized, but the exterior will have a European-style natural stone and stucco.
"It's a beautiful combination of old world European architecture with a contemporary style that brings together crisp and clean luxury with lush spaces, natural materials and higher-end finishes," he said.
Dallas-based Humphreys & Partners is the project architect for The Domain at The Gate.
The apartment community will have expansive courtyards, an 11,000-square-foot clubhouse, two-floor fitness facility, golf simulator, dog park and bike garage.
Construction on the apartment community, which includes one- and two-bedroom units, is slated for completion in mid-2018.
Gensler is the master architect for Invest Group Overseas larger vision of the project. For a preview of The Gate, see the attached slideshow.
Candace covers commercial and residential real estate and sports business