Admiral Legacy Investments and Foundry Commercial have begun construction on the first office building within the Mansfield Innovation Community, a new mixed-use innovation campus. The initial phase includes a five-story office building totaling 152,894 square feet, located at the intersection of Heritage and Regency Parkways in a city positioned between Fort Worth and Dallas. This building is designed as the lead office component for the broader campus plan.
The first phase carries a reported budget of $57.5 million and is intended to anchor the overall 18-acre mixed-use innovation campus. According to coverage cited from The Dallas Business Journal, the development team expects construction on the initial office building to be completed in October 2027. The timing positions the project as a staged rollout, with subsequent phases to follow once the first building is delivered.
At full build-out, the Mansfield Innovation Community is planned to include 240,000 square feet of office space across multiple buildings. The master plan also calls for up to 300 residential units and 20,000 square feet of retail, along with park areas and open spaces intended to support an integrated live-work environment. As part of this future expansion, a second office building totaling 90,000 square feet is envisioned in a later phase, rounding out the planned office program.
Capital for the project is being assembled from a mix of sources. Keystone National Group has provided $45.3 million in funding for the project, supporting the launch of the initial phase. Admiral Legacy Investments has also raised $6.2 million in equity, giving the development team an equity capital base to pair with the project funding as site work and vertical construction move forward.
The project team includes several established firms with defined roles across design, construction, leasing, and management. BOKA Powell serves as the architect for the office building, leading the design of the new midrise structure. Moss Construction is acting as the general contractor and is responsible for delivering the initial phase on the stated schedule.
On the leasing and operations side, Stream Capital Partners has been engaged to lease the office building, overseeing marketing and tenant negotiations for the new space. Foundry Commercial, in addition to its development role alongside Admiral Legacy Investments, will manage the property once completed. Together, the development, design, construction, and leasing team members are advancing a multi-phase, office-led mixed-use campus that is now officially underway.
