(Read more on the multifamily market.)
[IMGCAP(1)]DALLAS-With demolition under way on a 70-acre infilltract, Prescott Realty Group is ahead of schedule for the$300-million-plus Lake Highlands TownCenter in Northeast Dallas. If work stays on track, thesite will be completely scraped by March, infrastructure completedby year-end 2008 and vertical construction ready to begin inJanuary 2009 on the transit-oriented development.
Prescott executives and Dallas officials are holding aceremonial groundbreaking this morning for the long-awaitedredevelopment. Coming down are 1,400 apartment units at theintersection of Skillman and Walnut Hill roads, where demo work isabout 20% done. Going up will be 1,700 residential units, 280,000sf of retail, an 80,000-sf to 100,000-sf office building, roughly100 townhouses, 11 zero lot-line dwellings and a publicamphitheater.
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