Tuesday, March 03, 2015

Developers to start $100 million luxury, artist tower in the Dallas Arts District

Bird's Eye View looking Northeast
Luxury apartment developer ZOM Development has partnered with Dallas architect Graham Greene and nonprofit group La Reunion Texas to bring a $100 million, 29-story tower and artists community to the Dallas Arts District.
The luxury apartment tower, called Atelier Flora Lofts, will sit on one of the largest remaining parcels of undeveloped land in the Arts District.
The developer was attracted to the Dallas Arts District because of the neighborhoods ability to be a catalyst for creativity in the region, said Hans van Veggel, chairman and chief creative office of ZOM's parent company in Holland.
ZOM Chief Development Office Greg Westsaid the group will develop the tower in a way that enhances the neighborhood.
"We are stimulated by the unique opportunity to mix upscale residential with affordable artist housing and street-level pedestrian amenities in this vibrant, downtown environment," West said, in a statement.
Plans for the project include 370 luxury apartment units, 39 artist lofts, 12,000 square feet of street-level retail and restaurant space and 100 public parking spaces.
The artists lofts have been a longtime vision of Greene, who has wanted to bring artists into the Dallas Arts District through the one-acre tract on Flora and Pearl streets.
La Reunion will own and operate the affordable artist lofts, while ZOM will own and operate the other aspects of the project.
The modern design of the tower will complement the Arts District neighborhood with a wedge shape to minimize the environmental impact on adjacent properties. The slender tower will ensure it does not impede natural light from reaching the ceiling of the Nasher Sculpture Center, West said.
The Arts District's executive director Catherine Cueller said the new residential tower will fulfill the vision of the neighborhood and offer affordable homes to creative professionals.
"ZOM's great track record of carefully curating the commercial tenants in its properties will make our neighborhood even more of a destination for those living and working downtown and from across the region," she said.
In the past, the developer has built The Mondrian, a 20-story, 218-unit ultra luxury high-rise near the West Village and The Monarch, a 29-story, 305-unit tower in Austin.
Construction is slated to begin on the tower by the end of this year.
Candace Carlisle, Dallas Business Journal