Dallas Greenlights $200M Oak Lawn Residential Tower
The Dallas City Council allowed a developer to proceed with a 16-story residential tower in Oak Lawn. The council eased a height restriction, allowing the developer, M&A Development, to move forward with its 230-unit project. The Dallas Business Journal reports that construction on the luxury apartment community at 4211 Newton Ave. is set to begin in a year and wrap up in 2029.
The high-rise will replace a 33-unit condo community built in the ‘60s. Rooms will average 1,100 square feet, with one- and two-bedroom units.
The developer plans to reserve 5% of available units for households making 81% to 100% of the area median family income level.
The complex, which will include below-grade parking for residents and visitors and a rooftop pool, is steps away from luxury fitness club Equinox and near Al Biernat’s restaurant on Oak Lawn Avenue.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout