Shelby, a loft-based project which will also include about 3,500square feet of retail space, is on SMU Boulevard. Completion isexpected for August 2009. Adjacent to the Shelby is at SMUBoulevard and Greenville Avenue is Shamburger Lofts, which willbreak ground sometime during Q1 2009. Shamburger Lofts, which willalso contain a retail component, could be a phased development,though Prescott Realty director Bryant Marshall says the initialunits could be open as early as fall, 2010.

"We're targeting the student market with these, mainly graduatestudents," Marshall comments. Both projects are in a proposeddevelopment area dubbed University Crossing.

The $150-million University Crossing project consists of apartnership between Southern Methodist University, DART,Dallas-based Prescott and others. Bisected by US 75, UniversityCrossing will involve redevelopment of already existing structuresas well as building new ones. Improvement of pedestrian walkwaysand streetscapes is in the plan as well.