DALLAS-Compatriot Capital Inc., the real estate operating and investment subsidiary of Sammons Enterprises, together with JLB Partners, has begun construction on a luxury,  class A apartment high-rise in Uptown. Situated on the Katy Trail, the 18-story, 299-unit, tower will feature sweeping views of the Dallas skyline.

“This project fits perfectly into JLB's and Compatriot's strategy of building a portfolio of the highest quality assets to be held for the long-term,” said Paul Rowsey, president and CEO of Compatriot Capital.

The project will be located on 2.31 acres at 2728 Cedar Springs. Design elements include a classical architectural style with an integrated brick façade to complement the surrounding neighborhood. The high-rise will include three levels of parking below the building.

“This site is one of the most prominent locations in Dallas for multifamily development,” said Scott Sherwood, development partner, JLB Partners. “It is positioned right where Uptown meets Turtle Creek with more than 250 feet of frontage along the highly coveted Katy Trail.”

The high-rise will feature numerous upscale amenities including a private penthouse lounge, a roof deck pool overlooking downtown Dallas, and a wellness center with a yoga lawn. A private dog park and pet spa will be available for pet owners. In addition, a picturesque courtyard will overlook and provide direct access to the Katy Trail.

“JLB worked closely with the Friends of Katy Trail to develop a prominent public access point to the Katy Trail, further increasing the accessibility of the trail to the surrounding community,” said Bay Miltenberger, CEO of JLB Partners.

The apartment homes will feature one, two and three-bedroom units ranging in size from 622 square feet to 3,717 square feet. The units will feature ten-foot plus ceiling heights and high-end finishes such as granite counter tops, stainless steel appliances, wood floors, high speed wiring and large balconies.

Construction on the luxury high-rise will begin immediately with completion slated for spring 2015. GDA Architects will complete the design work. Pacific Life Insurance Company will provide the construction and permanent financing for the development.

Headquartered in Dallas, Compatriot Capital directs the real estate investment strategy for its parent company, Sammons Enterprises, Inc. with a focus on entity-level investments in real estate operating companies.

Founded in 1938, Sammons Enterprises, Inc. is a diverse holding corporation that owns and operates companies in four core business sectors – financial services, materials handling and equipment distribution, real estate, and hospitality.

JLB Partners, LP, is a national developer, builder and manager of Class A multi-family assets in select markets of the United States.