Sunday, January 20, 2008

Adriatica in McKinney Rethinks Real Estate

So a friend of mine (thanks Emily!) sent me an email about this new 44 acre mixed use development going on in the Stonebridge Ranch community in McKinney called Adriatica. After looking at what they are planning on accomplishing I have to say its pretty spectacular. The whole development, visualized and run but the Blackard Group, is based on a small harbor town in Croatia called Supetar. (Read all about the vision plan here) So what exactly are they including in this $250+ million mixed use adult playground? Well let's see.

Office and Retail Space – Business establishments throughout the development will meet special criteria that reflect the character and underscore the unique ambiance of Adriatica at Stonebridge Ranch.

Bell Tower – A 128-foot working bell tower modeled after a classic tower located near Supetar. The two bells will be custom ordered and forged in Croatia.

The Galleon
– A replica of the sailing ship "Dubrovnik" will be berthed in the harbor of Adriatica. Watch as it is built onsite.

Restaurants – Italian, Mexican, an Old World bakery, a deli, a pizzeria, and an English Pub are just a few of the venues planned for Adriatica.

- Adriatica will produce it's own wines from grapes grown on the property. The oak barrels will be stored in a cellar carved in the bedrock of Adriatica.

Lofts - 297 lofts located over the harbor restaurants, the retail shops and throughout the village.

The 74-Room "B" Hotel - Located within the Harbor District, a full service "Venetian Style" boutique hotel with banquet facilities, a conference room and meeting rooms, extending the village’s ambiance to short-term visitors and guests of Adriatica residents.

Virginia Parkway Businesses – Includes a coffee shop, wine bar, salon/spa, mortgage company, bank, doctors’ offices, and more.

Wedding Chapel
- Stone masons will construct this building on one of the two islands as if it has risen out of the water. Construction should begin in the late spring of 2007.

The Villas
– (2,000 sf starting in the high $400's) Designed with the look of an ancient village rising from the edge of the sea, 75 uniquely designed villas will range from $400,000 to more than $1,000,000.

“The Promise”
– A 16-foot tall 147 ton sculpture / fountain is being hand-carved on site by renowned artist Matthew Johnson representing Architectural Stone Company.

Their own winery, wedding chapel and harbor with a friggin' ship? This sounds pretty amazing and may make some people living South of LBJ think about trekking North. And based on their other high end developments (mainly in Frisco) that seem to be successful and doing well I don't see any reason why they can't pull this off. But since this is so big there will be no "mediocre" or "average" in terms of how it will be judged. It's either going to be phenomenal or a huge dissappointment. But as some athlete said somewhere at some point, "Go big or go home". Adriatica is certainly going big and I'll be keeping an eye on this one.

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