(Photo: Steve Brown/DMN)
It was just three months ago that all anyone in urbanism forums or on staff at city magazines could talk about was this “A New Dallas” campaign to raze Highway 345 that bisects the urban core of Dallas. As the beautifully constructed website said, the 345 was already crumbling, so instead of investing money in rebuilding it, we should tear it down and invest in a slower urban infrastructure.
Well, some of the “enormous amount of underdeveloped land around IH 345” is going to get a mighty fine building that will have a mighty fine view of … a crumbling highway. I know it sounds like a bummer, but it obviously puts dollar signs in the eyes of South Carolina-based Greystar, the developer planning Elan City Lights for a vacant lot at Live Oak and Good Latimer.
According to a story from Steve Brown, Greystar envisions a 424-unit luxury apartment building on the site they purchased from Key Bank for $39.43 million, which is actually pretty close to the AMLI development just across the street from the now weed-covered lot that at one time had a very interesting collection of plastic bags and hubcaps adorning its chain-link fence.
I wonder if Greystar would be for the “New Dallas” urbanists fell in love with this summer? I’m betting they would, considering that the prices for these luxury units would be a lot higher if they had views of something other than a highway. Greystar expects to start construction next month on City Lights with the first units hitting the market in fourth quarter 2014.