Stillwater Capital unveils a $1 billion plan for Mansfield’s The Reserve, including a riverwalk canal and new City Hall.
MANSFIELD, Texas — This article was originally published by our content partners at the Dallas Business Journal. You can read the original article here.
Dallas-based Stillwater Capital Investments LLC is moving forward with an ambitious development vision for Mansfield, featuring large commercial buildings and a “riverwalk canal.”
Stillwater and the City of Mansfield have been planning the 210-acre development, called The Reserve, for a while. Last March, Stillwater Capital Investments LLC sold about 10 acres to the city for a new City Hall. Stillwater on Jan. 30 released new renderings and timelines for the project.
Located adjacent to Methodist Mansfield Medical Center on East Broad Street, between State Highway 360 and U.S. Route 287, the project is expected to cost more than $1 billion and will include a half-mile canal loop, boardwalk plaza and a 6-acre lake. The City Hall will anchor the development and be surrounded by a hotel, restaurants, stores and entertainment spaces.
“This groundbreaking plan embodies sustainable urban design, providing community-focused space and an activated outdoor environment for residents and visitors to enjoy,” Stillwater Capital partner Clay Roby said in a statement. “Today’s announcement is a testament to what can be achieved when public and private partners work together to realize a forward-thinking vision for the future and we’re grateful to play a part in this journey.”
The commercial and residential spaces, along with the new City Hall, are still undergoing design. Construction is slated to begin in the third quarter of 2025 with phased openings starting in 2027. The public-private partnership will begin with a more than $300 million investment that the city and Stillwater hope will generate thousands of jobs and boost the local economy.
“The Reserve is going to be a special place that Mansfield has never seen before,” Mayor Michael Evans said. “The Reserve and Mansfield’s new city hall will be the perfect civic space where people can conduct local business, participate in their local government, and gather to make memories as one community.
Stillwater has been working on several other housing components as part of the project, including a $64 million townhome project and $100 million multifamily project.
The Reserve is the latest major commercial development for Mansfield. Others include the Staybolt Street Entertainment District, which will feature a soccer stadium, a hotel, entertainment venues and more.
