Monday, May 16, 2016

Apartment tower in the works on downtown Dallas’ east sid


Downtown Dallas’ near east side is getting a high-rise apartment project.
Developer Greystar plans to build the tower in the City Lights project on Live Oak Street, a block east of downtown.
Greystar in 2013 built the 424-unit, 5-story Elan City Lights apartments at Live Oak and Good Latimer Expressway.
The South Carolina-based apartment investor and developer is now working on plans for a second phase next door at Live Oak and Texas Street.
The project is planned to contain 350 apartments, according to development plans filed with the city of Dallas.
The development plans include a “Multifamily Tower – 165 feet.”
That would be about 12 or 13 floors.
The City Lights project was originally planned to include residential towers.
The previous owners had hoped to construct a $175 million complex that included a grocery-anchored shopping center and high-rise residential buildings. But the deal never got off the ground.
Greystar bought the development site out of bankruptcy.
Greystar already has one Dallas apartment tower in development — the 23-story, 302-unit Ascent apartment building in Dallas’ Victory Park, across the street from the American Airlines Center arena.

By Steve Brown of the Dallas Morning News