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DALLAS-Realty Capital Partners Inc. has kicked in $6.8 million of equity to a $31.3-million condo project in Uptown. Ground will break on the 120-unit, 14-story tower in February 2006.

Donna Arp, president of Realty Capital Partners in Colleyville, tells GlobeSt.com that 35 investors went into the equity pool so local developer Carlisle Group LP, a single-asset partnership formed by Richard Barge, could secure the construction loan. She says the expectation is the condo project at 3003 Carlisle St. will be sold out before the three-year term runs out on the construction financing. “We anticipate the condos to sell very fast,” she says.

The Katy Trail development is being priced at $300 per sf, which Arp says is low for the Uptown market. Units will average 1,150 sf.

Barge’s Winston Property Development Partners LP is leading the play to develop the 39,520-sf tract, which backs up to the Katy Trail. A garden plaza is planned as the connector between the residential building and the popular 3.5-mile pedestrian and bicycle path. “It’s a superb location,” Arp says.

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