DALLAS--Palladium USA International, along with its development partner NE Development, has broken ground on 7.4 acres of land in the Lakefront District of Little Elm for a mixed-use community that will include 203,090 square feet of luxury rental homes and 6,000 square feet of retail and restaurant space.
The retail development from the Dallas-based companies will be located at the southeast corner of Eldorado Parkway and Main Street, across from Hydrous Wake Park, Hula Hut and Towers Tap House.
"This segment of North Texas is growing at an incredible pace and we wanted to be a part of this growth by providing a high-end, mixed-use development in the City of Little Elm," Tom Huth, president and CEO of Palladium USA, told GlobeSt.com. "With the tremendous growth in Little Elm and surrounding communities, along with the huge appeal and amenities of the Lakefront District, we see tremendous potential in this new development."
According to Huth, Palladium USA has worked closely and collaboratively with the town of Little Elm for months, establishing the architectural style of the mixed-use development.
The mixed-use development will feature 242 homes and approximately 383 parking spaces for visitors and residents. The gross building area will exceed 230,000 square feet producing a 910 average net rentable square foot per unit. The design and facade of the four-story residential buildings will complement the look and feel of the entire Lakefront District.
Upscale amenities for residents will include a leasing/lobby center with a clubroom, demonstration kitchen, game room and conference room.
A pocket park will bridge the residential area with the retail/restaurant building. Among the unique features of the commercial component is the split-level restaurant structure, which allows for ground-floor patio dining as well as a second-floor outdoor terrace dining and entertainment area.
"The connectivity in this development provides easy, walkable access to retail and restaurants throughout The Lakefront," says Huth.
Construction is expected to last 16-18 months; Humphreys & Partners Architects is the architect of record for the development.
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