Dallas-based developer Stillwater Capital has broken ground on a mixed-use development in Allen.
The 84-acre 121 Technology Park will include industrial, office, retail and residential buildings. Located at State Highway 121 and Chelsea Boulevard, the project has been in the works since last year. The previously undeveloped property is in an area along S.H. 121 that’s seeing significant new construction.
The first phase of 121 Technology Park will include four industrial buildings with 370,000 square feet of warehouse and manufacturing space. Future construction will include two office buildings with 200,000 square feet and 130 townhomes.
“The contemporary designs cater to the needs of research and technology companies looking for a state-of-the-art workspace and will offer visibility along State Highway 121,” Stillwater officials said in a statement.
The Allen project is the latest industrial development by Stillwater Capital, a diversified commercial real estate company with projects across North Texas. Earlier this year, Stillwater leased a new 900,000-square-foot warehouse in Mesquite in one of the largest industrial deals in Dallas-Fort Worth in 2023.
Stillwater is also a partner in the Omni PGA Frisco Resort and the PGA headquarters in Frisco. And the developer is building a $1 billion mixed-use project in Frisco called The Link.
Stillwater also has apartment projects in Dallas, Austin and San Antonio.
