Wednesday, February 29, 2012

Two more Maple Avenue apartment deals cooking

File 2010/Staff Photo
Developer Odyssey Residential Holdings hopes to begin work in early 2012 on a 252-unit apartment project adjacent to the Inwood Road DART rail station.
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Dallas’ already busy Maple Avenue development district is getting two more projects that will add to the construction boom.
Developer Odyssey Residential Holdings hopes to begin work in early 2012 on a 252-unit apartment project next to the Inwood Road DART rail station.
The five-story rental housing development is planned for an industrial site at 5522 Maple at Butler Street.
“We’ve gone through the zoning process, and we have financing in place,” said Odyssey president Saleem Jafar. “We still must close on the land purchase, and there is an existing warehouse there we must demolish.”
Odyssey plans to deliver the first new residential units in early 2013. The project is planned with 60 percent affordable apartments and 40 percent to be rented at full market rate.
“We’ve been working very closely with DART on this project,” Jafar said. “This is truly a transit-oriented development in what is the largest sustainable employment area in Dallas.”
The new rental housing projects are in response to construction of new hospitals in the area by Parkland Health & Hospital System and UT Southwestern.
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