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United Commercial Realty

Woodmont plans 65-acre shopping center in Las Colinas

Fort Worth-based Woodmont Co. said Thursday it will build a 65-acre shopping center in Las Colinas.

Called the Terraces at Las Colinas, the project will be constructed at State Highway 161 and Las Colinas Boulevard.

Along with 1 million square feet of retail space, the project will ultimately include 200,000 square feet of offices and 250 residential units.

Construction is to start in late summer.

Woodmont bought the vacant land from Hines. Prudential Real Estate Investors will be a partner in the development.

"We chose this property because of its location and because it is the largest tract of land with access to the George Bush Turnpike and LBJ Freeway," Woodmont chief executive Stephen Coslik said in a news release.

The development will include a six-acre lake.

It is adjacent to the Las Colinas Medical Center.

Dallas-based UCR Urban will work with Woodmont to market the property.

Woodmont is a 27-year-old commercial real estate investment and brokerage firm.

The company has properties in several states, including California and Mississippi.

Its local developments include Lakepointe Crossing in Lewisville, Preston Park in Plano and Rockwall Crossing in Rockwall.