LRS Real Estate plans Latino retail, sports complex
A 26-acre mixed-use development will soon target Dallas' Latino population with a sports and entertainment complex, plus substantial retail and residential components.
The development, called Foro Dallas, will built at Interstate 35 and Regal Row. The project will include La Plazita Sports & Entertainment, an 8-acre area set aside for sporting events and concerts called. La Plazita will include soccer fields, and volleyball and basketball courts, among others.
Foro also will have more than 250,000 square feet of retail and restaurants and 550,000 square feet of multifamily space, said Robert Peinado, president of Dallas-based LRS Real Estate, the project's developer fast payday loan no faxing. HKS is the project's architect.
The development could be open by late 2009.
The first phase will cost $50 million, including land acquisition and the sports complex, Peinado said. That will be followed by a 30,000-square-foot FAMSA, a Mexico-based home furniture chain, and 100 multifamily units. Foro is being financed by wealthy individuals in Mexico and a Los Angeles-based private equity group LRS declined to name.
ldavolio@bizjournals.com | 214-706-7113
Filed under: business by Wolf