Wednesday, April 04, 2007

New Uptown High-Rise Apartment Building

Work starting on Uptown high-rise
Alta Rosewood to be neighborhood's largest residential building
11:07 AM CDT on Monday, March 26, 2007
By STEVE BROWN / The Dallas Morning News stevebrown@dallasnews.com
Developers have broken ground on the biggest residential building yet in Dallas' Uptown neighborhood.
The 375-unit Alta Rosewood residential tower is being constructed a block from the Crescent by Atlanta-based Wood Partners and the California Public Employees' Retirement System, or Calpers. The 22-story tower is one of a handful of such projects going up in the same neighborhood and will be ready for residents in late 2008.
Located at McKinnon and Hunt streets, the glass-clad apartment building is being built near the southern entrance to the Dallas North Tollway. And it's next door to Rosewood Property Co.'s office tower project at Cedar Springs Road and Pearl Street.
Contractor J.E. Dunn has begun excavation for the residential tower, which will cost more than $72 million.
A spokesman in Wood Partners' headquarters did not return phone calls Friday to provide details about the project.
But according to investment reports published by Calpers in February, residential units in the building will be loft-style apartments with hardwood floors.
A 425-space parking garage, outdoor pool and fitness center will be on the lower levels of the project. The building was designed by Atlanta-based architect Preston Partnership.
Calpers has invested more than $11 million in the deal. The Alta building is by far the biggest residential tower planned for Uptown.
The 31-story Azure condominium tower contains just over 200 units. Two more large apartment towers are also being built – the 252-unit, 28-story Cirque high-rise in the Victory complex and the 230-unit, 26-story 1900 McKinney Avenue building.
The Cirque and 1900 McKinney will also open in 2008.
The nearby Ashton apartment tower has 267 units and is not fully leased.
"The highest-end apartment market is going to be crowded," said Dallas housing analyst Mike Puls. "There have never been that many high-priced apartments built." // Image1 end -->