Dallas Stars owner Tom Gaglardi hopes to score in the Texas’ high stakes property market.
The Canadian businessman’s Northland Properties Corp. is starting a new firm to develop residential towers and mixed-use projects in markets including Dallas.
The new Northland Living company has bought its first development site in downtown Austin where it plans a condominium tower. The property firm also has tied up a 40-acre site in suburban Austin where it plans a mixed-use development.
Gaglardi’s Vancouver-based real estate company also has two of the last development blocks in Dallas’ Victory Park – about 2.5 acres on the north and west sides of American Airlines Center. Gaglardi bought the properties northwest of downtown Dallas in 2020. The land is being used for arena parking.
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Tom Gaglardi (left), owner of the Dallas Stars hockey team and president of Northland Properties Corp., spoke with Dallas Morning News managing editor Amy Hollyfield (right) earlier this year at a meeting of The Real Estate Council.(Liesbeth Powers / Staff Photographer)
Northland Properties has hired Tony Kaleel, who most recently was with an Austin building operation, as president and chief operating officer of the newly formed Northland Living.
“We’re confident we found the right person to spearhead efforts to fortify our firm’s development capabilities,” Gaglardi said in a statement. “As a family-owned company, we believe the foundation of our continued success is our people, taking great care of our guests and the communities we invest in. Tony aligns well with our philosophy and desired level of excellence.”
Gaglardi has previously focused his real estate activities on developing hotels and resorts.
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The owner of the Dallas Stars professional hockey club is building one of his firm’s Sandman Signature Hotels in Las Colinas on State Highway 161 near Carpenter Freeway.
The Sandman Signature chain also operates a 233-room hotel in Plano – its first location in the U.S.
Gaglardi has owned the Dallas Stars since 2011.
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Northland Properties was founded in 1963 and owns and operates 63 hotels and resorts, 175 restaurants and venues and three hockey teams in five countries. The companies employ 12,000 people.
Northland Living’s Austin tower site is at the northwest corner of 14th and Guadalupe Streets, west of the Texas State Capitol. The company is in the planning stages for the high-rise. Its suburban development site is northwest of Austin in the town of Cedar Park. It’s between an H-E-B Supermarket and a future Nebraska Furniture Mart.
“We plan to delve deeply into local economic and demographic trends, then make a positive impact on the communities where we invest and develop,” Northland Living’s Kaleel said. “Texas has always had an entrepreneurial mindset and grown in consistent ways. We look forward to making beneficial contributions.”
Northland Living is entering the Texas multifamily development market at a time when more new residential projects are going high-rise. Large tower apartment and condominium buildings are standard projects in Vancouver, where the company is based.
The two development sites Northland has in Victory Park would each accommodate a major high-rise.
