DALLAS-Greystar is ready to move forward with development of a 424-unit, luxury apartment community called Elan City Lights, at the City Lights property just east of downtown.
Greystar recently bought the 4-acre vacant tract at Live Oak Street and Good-Latimer Expressway, and has broken ground on the long-dormant site, says the Dallas Morning News.
The South Carolina-based property manager bought the parcel out of bankruptcy, and hopes to have apartment units ready for occupancy by late next year.
Previous owners had hoped to construct a $175 million complex that included a grocery-anchored shopping center, high-rise residential buildings and a hotel.
Click Dallas Morning News to read the full story.
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