Southern Land Company is breaking into the Dallas residential market with a 270-unit high-rise building planned for Oliver St. the Knox District near Highland Park. The Nashville-based developer has four other residential projects in suburbs surrounding the city, including multifamily projects in Plano, Allen, Keller, and McKinney. Southern Land plans to turn dirt for the 18-story building in the first quarter of 2016. Floor plans and rents haven’t been finalized yet, according to the company’s PR team.
“This project is going to bring something new and unique to the Knox Street neighborhood, which is the most vibrant retail and restaurant district in Dallas,” Todd Marchesani, acquisitions manager for Southern Land, said in a press release. “The demand for urban living within walking distance to lifestyle amenities has continued to increase. This property provides the ideal location with its proximity to offices, shops and restaurants in Downtown Dallas, Uptown, Highland Park and Preston Center. Crafting communities where lifestyle thrives is our ultimate objective.”
Our own Amanda Popken has confirmed, time and again, what Marchesani claims. While “68 percent of residents would like to live in a walkable neighborhood at some point in their lives,” Popken said, “only 4 percent of the real estate in Dallas is in a walkable environment, and only 1.5 percent of D-FW is walkable.”
That’s creating a lot of demand for well-appointed high-rise developments, and Southern Land has hired architecture firm Gromatzky Dupree & Associates to design a building with more than 10,000 square feet of private open space connecting to McKinney Ave. that will include a dog park and outdoor seating. Outdoor grills and fireplaces, a concierge, a resort-style pool wth private cabanas, a fitness center and a residents lounge will also feature prominently in the development.
“Southern Land creates communities. In all of our projects, we are attracted to sites with a strong sense of urbanism and walkability; the Knox neighborhood was a perfect match,” Southern Land CEO Tim Downey said in the release. “Dallas has been a very opportunistic market in this regard, and this property will highlight the cornerstones of our company – great design and desirable lifestyle.”
Units will range from 500 to more than 3,000 square feet with a variety of studio, one-, two-, and three-bedroom floor plans. Expect tremendous, unobstructed views in the penthouse with private terraces, too. “Other in-unit amenities include high-end stainless steel appliances, washer/dryer, quartz countertops, and 10-foot ceilings,” according to the release. “Estimated lease-up is projected for the spring of 2018.”