A long-stalled, 11.2-acre mixed-use site along the I-35E corridor in Carrollton that was once pitched as the roughly $300 million "Carrollton Gateway" project is officially up for grabs in a bankruptcy sale, giving would-be buyers a tight window to take control of land locals have watched sit idle for years.
According to Hilco Global, the property at 2441 North Broadway Street is being marketed through a court-approved Chapter 11 sale. Bids are due by February 26, 2026, at 5 p.m. CT, with an auction and best-and-final round set for March 3. Hilco says the assemblage can be purchased as a single package or by individual tract, and that a Purchase and Sale Agreement and due-diligence materials are available to qualified bidders.
Court records show the site is part of Chapter 11 case No. 24-33585-sgj11, and recent entries in the docket describe motions and an agreed order with creditor C2R Secured Debt Fund that cleared the way for a sale, according to the bankruptcy docket. The Dallas Business Journal reported that the project had been envisioned as a roughly $300 million mixed-use development and that years of disputes between the original developer and investors helped derail construction.
What Is Actually On The 11-Acre Site
The assemblage is mapped as four tracts with dual zoning that allows transit-oriented, high-density uses such as multi-family, hotel, office and retail, along with portions that can accommodate buildings up to 20 stories, according to the LoopNet listing. Brokers working with Hilco have prepared site brochures and lined up on-site inspection windows for would-be buyers who meet qualification thresholds.
Why Developers Might Still Take The Shot
The land sits near the Trinity Mills DART station and major North Dallas employment centers, a combination that Hilco Global says offers buyers clear development parameters that can trim entitlement risk. Local momentum for transit-adjacent housing and retail, including nearby projects such as Eviva Trinity Mills, helps explain why this long-teased site could still draw serious attention.
What Happens Next For Carrollton Gateway
Qualified bids are due by February 26, and the auction is scheduled for March 3. Interested parties must follow the formal Purchase and Sale Agreement process and submit proof of financing and other qualification materials. If a buyer emerges, the sale could finally restart a long-promised mixed-use node in Carrollton, although any new developer will still have to wrestle with entitlements, financing and choppy market conditions for office and retail space.
