City of Richardson and CBRE Seeking Proposals for Redevelopment of Arapaho Center Station

CBRE and the City of Richardson have released a Solicitation Notice, seeking innovative proposals related to the redevelopment of Dallas Area Rapid Transit (DART)’s Arapaho Center Station at 200 Woodall Dr. in Richardson, Texas. Richardson is seeking a private development partner to develop a transit-oriented, mixed-use development on the 14.47-acre property.

The site is a single parcel of land with by-right entitlements that exceed 1 million square feet. Plans for a mixed-use development are intended to complement Richardson’s thriving business landscape, enhance public transit access, and introduce innovative residential, retail, and commercial opportunities that solidify the Arapaho Center Station as a catalyst for the City and region.

“We are excited to collaborate with CBRE in securing a partner for this landmark project,” said Richardson Mayor Bob Dubey. “This is a rare opportunity for an innovative developer to establish a signature destination in the DFW Metroplex, and the City Council is committed to supporting a visionary development that will serve as a defining project for our community.”

Strategically located between US Highway 75, Interstate 635, and President George Bush Turnpike, Arapaho Center Station is a key gateway to the Richardson Innovation Quarter (IQ®), a 1,200-acre innovation and technology hub with over 19,000 workers and more than 1,000 businesses. It is two stops from CityLine and the future DART Silver Line connection, which is a $1.9 billion project linking DFW Airport to major North Dallas suburbs and the University of Texas at Dallas (UTD) campus.

Richardson and UTD announced a partnership in 2021 to establish a physical presence in the IQ®, further emphasizing the city’s commitment to big ideas and ground-breaking technology with an extension of UT Dallas’ Venture Development Center and newly-created UT Dallas research centers within the City’s Innovation Quarter Headquarters (IQHQ).

“The Arapaho Center Station development presents a unique opportunity to create not just a destination, but a gateway to North Texas’ premier tech hub, The IQ®,” said Richardson City Manager Don Magner. “With its central location at a DART Red Line Light Rail station, this project will offer dynamic, multi-modal connectivity and serves as a model for other communities seeking to integrate transportation, high-tech jobs, and vibrant live-work spaces in a single, cohesive development.”

Arapaho Center Station is one of several transit-oriented development projects that DART is executing to reinvigorate stations throughout the metroplex. DART and the City’s partnership entrusts the City with the stewardship of its development and selection of a suitable development partner to execute the City’s vision and augment DART’s services through the development of the site.

CBRE’s Josh White and Renee Castillo along with Peter Jansen of CBRE’s Public Institutions and Education Solutions (PIES) are representing Richardson in efforts to solicit, negotiate and engage a developer. CBRE’s PIES Group provides real estate services to state, county, city, and educational institutions around the country.

“This is a rare opportunity to develop a large mixed-use property in DFW and unlock Richardson’s potential,” said Peter Jansen, an Executive Vice President with CBRE. “Richardson has done an excellent job preparing for this project by executing pre-development due diligence, reducing risk and demonstrating its commitment to the project.”

“Developers and investors will find Richardson to be an optimal partner for a multi-phase project,” continued Josh White, Vice Chairman with CBRE. “Developers are facing a scarcity of available land for new projects, and the IQ® provides an exciting forward-thinking population who want access to a live-work-play environment.”

More information about the project and forms for proposals can be accessed on the project website located at www.ArapahoCenterStation-rfp.com.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2023 revenue). The company has more than 130,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.CBRE.com.

About The Richardson IQ®

The Richardson Innovation Quarter, known simply as the Richardson IQ® or The IQ®, is a 1,200-acre, amenity-rich, urban tech hub in the heart of the booming DFW Metroplex. Its legacy of serving as a home to technology-focused industries and entrepreneurship stretches back to the early days of the Space Race in the 1950s. Today, The IQ® continues to evolve and boasts innovators across a wide range of industries, including advanced additive manufacturing, biotechnology, finance, software development, and R&D, as well as hosting incubators for entrepreneurial start-ups. With more than 1,100 businesses and 20,000 workers, The IQ® spurs the creativity and collaboration that drive innovation and growth, like that between the City and The University of Texas at Dallas, which jointly share The IQ® Headquarters. The IQ® acts as a living laboratory for big ideas and groundbreaking technology.

www.RichardsonIQ.com

About the City of Richardson

Located just north of Dallas, Richardson is a culturally diverse community offering a blend of urban amenities with exceptional suburban service. Richardson benefits from being home to The University of Texas at Dallas, a research powerhouse. UT Dallas’ influence is felt in the presence of dynamic businesses in sectors such as advanced additive manufacturing, biotechnology, finance, software development, and R&D, as well as hosting incubators for entrepreneurial start-ups. Richardson’s thriving, innovation-focused economy creates numerous opportunities while also supporting a historically stable local government capable of delivering high quality-of-life and exemplary services for a diverse array of neighborhoods and multi-modal transportation options, enabling easy access to the entire DFW Metroplex. The community is regularly recognized in third-party rankings as one of the best places in the nation to live, raise a family, start a career, go to school, buy a home, and retire.

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