Terms of the land sale were undisclosed.
The buyer was represented by Lew Wood,Andrew Doster of Henry S. Miller Brokerage, and co-brokered with Jim DePetris.
Plans for the new development include bring a 340-apartment urban-style home to the neighborhood. Dallas' urban core has been recently filling up with apartment developments as builders look to meet the demands of the region's growing population.
Next year, Dallas-Fort Worth developers are expected to add 11,724 new apartments, he said.