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Slated to begin in mid- to late 2018, the project will include 1,750 homes, a hotel, a town and wellness center, and a 3,300-foot beachfront almost three times the size of the beach at Cinnamon Shore North's property.
The Dallas multifamily market is red hot, as 25,000 new apartments are expected to hit the market this year, a 61% increase compared to 2016, when approximately 15,500 new units were completed.
Despite the dearth of supply and high demand, industrial developers are cautious not to start new projects in infill Los Angeles lest they be caught in a cycle change.
Responses to the RFQ are due no later than 5 p.m. on Aug. 11, 2017. JetBlue plans to notify qualified teams by September 2017. That same month it will issue an RFP on the project and expects to select a winning Best Value team by the first quarter of 2018.
The Pew Research Center's analysis of Census Bureau data found that renter household percentages have increased since 2006 across a variety of demographic factors.