Admiral Legacy Investments and Foundry Commercial started work on a five-story, 152,894-square-foot office building at Heritage and Regency Parkways in the city between Fort Worth and Dallas. The Dallas Business Journal reports the $57.5 million first phase of the project, called the Mansfield Innovation Community, will anchor an 18-acre mixed-use innovation campus. Construction is expected to finish in October 2027.
When the project is fully built, the Mansfield Innovation Community will feature 240,000 square feet of office, up to 300 residential units, 20,000 square feet of retail along with parks and open spaces. A second 90,000-square-foot office building is planned in another phase. Keystone National Group provided $45.3 million for the project. Admiral also raised $6.2 million in equity for the project.
BOKA Powell is the architect. Moss Construction is the general contractor. Stream Capital Partners will lease the building, and Foundry Commercial will manage the property.
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