New project in the works for Dallas' Uptown will have office and apartment towers
Quote:
RED Development of Phoenix has teamed up with Dallas’ StreetLights Residential to build the $200 million Akard Place mixed-use project at Field Street and Cedar Springs Road. The 16-story office tower and 20-story residential building will occupy all of the vacant block, which is just north of Woodall Rodgers Freeway and the Perot Museum. It’s one of the last large building sites in the neighborhood.
Groundfloor retail and a large public plaza will connect the two buildings.
“There is a great demand now for restaurants and retail in Uptown,” RED Development managing partner Mike Ebert said. “There is big demand for offices.
“We think the timing for this project is outstanding.”
“The property is right in the middle of everything,” Chesnut said.
He said plans call for about 300 apartments in the residential tower, which will be at the northeast end of the property.
“The real amenity with this project is the plaza – that’s what will draw people to this building,” Chesnut said. “That’s what we have that’s different” from everyone else.” The developers are currently seeking planning approvals for the project and plan to start construction early next year. “We plan to open apartments end of 2016 and office about same time,” Ebert said.
|
Key Figures:
800,000 total square feet
425,000 square foot Class-A office tower on 16 floors
300-unit apartment tower on 20 floors
75,000 square feet of retail
Website