Dallas Business Journal – What makes the $3.5B Cypress Waters project so alluring? (Video)

It’s been than a decade since Lucy Billingsley first spotted the large parcel of land near Interstate 635, once owned by Dallas-based TXU Energy, but she still remembers seeing the property and thinking it would make an excellent plot to develop.

The longtime Dallas developer kept in touch with the power company, hoping to land the 1,000-acre tract, and piece-by-piece, she did.

“It’s so rare to find 1,000 acres of land that’s infill property and near water,” said Billingsley, a partner at Dallas-based Billingsley Co. “In Dallas, you don’t find it.”

Now, Billingsley has jump started the $3.5 billion master-planned, mixed-use development at the northeast corner of Belt Line Road and Interstate 635 called Cypress Waters, which recently landed the headquarters for Irving-based Cheddars Casual Cafe.

And that’s not all. Real estate sources say the project is contending for a number of large corporate tenants in the North Texas market.

Complete article.