Wednesday, March 21, 2012

Fairfield Residential plans West End apartment project

An apartment project is being planned for a vacant block in downtown Dallas’ West End district.
Construction of the rental community could be a big boost for the entertainment district in the northwest corner of downtown.
Developer Fairfield Residential has contracted to purchase the lot of nearly 3 acres at Houston Street and Ross Avenue.
The property is now used for parking and previously was the site of a railway freight depot.
The 2006 demolition of the depot resulted in ongoing litigation by the city of Dallas with former owners.
“At this point, the city would like to see the site developed,” said Dallas real estate broker Newt Walker, who has been marketing the block for sale.
Walker said since the litigation is with a previous owner of the property, TCI West End Inc., it doesn’t prevent Fairfield Residential from purchasing and developing the property.
“They are doing design studies to determine what they are going to put on the site,” Walker said.
The planning, purchase and city approvals for the project will still take several months.
Fairfield Residential’s Scott Jackson said his firm plans to complete its purchase of the land “hopefully in the fall.”
“However, there are several issues that must be resolved first,” Jackson said...

Real Estate Editor