Wednesday, September 24, 2014

Downtown Dallas’ new Lone Star Lofts are mostly leased

                                  The historic Lone Star Gas buildings now house 123 apartments. (DMN files)
The historic Lone Star Lofts in downtown Dallas have only been open a few months, and the apartment project is already mostly leased.
Built in 1924 and 1931, the landmark former utility buildings are located on Harwood Street near the Farmers Market.
Hamilton Partners and Central Dallas Development Corp. spent about $30 million converting the vacant office buildings into 123 apartments.
The project has been a hit with tenants.
Developer Ted Hamilton said the buildings are “performing well ahead of our projections.
“We’re 72 percent occupied and 81 percent leased – almost done with construction,” Hamilton said.
He said deals are in the works or signed to fill all the ground floor retail space, too.
The apartments average about 940 square feet and start at near $1,000 a month.
The apartments in the Lone Star Lofts buildings average about 940 square feet. (David Woo/The Dallas Morning News)