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DALLAS-A $35-million, 285-unit apartment development will soon replace two older multifamily properties and two homes on a 3.5-acre parcel along Wycliff Avenue.

Nick Chapman, managing director in Dallas for Phoenix-based Alliance Residential Co., tells GlobeSt.com that ground has broken on the Broadstone Wycliff, opening the door for the first units to be available for rent by September. “It’s a spectacularly located infill site with great access to the freeway system and great visibility. It has everything you look for in an apartment site.”

The two-building complex, which should be 100% completed by the mid-2007, will replace Chatham House Apartments at 4420 Dickason Ave. and the Establishment Apartments at 4411 Dickason Ave., which were torn down by Alliance to make room for the new development, which will go up just south of Cedar Springs Road in the Oak Lawn neighborhood. Two older homes, also razed, were bought to assemble the development site.

The complex is one of three being constructed in the Dallas area by Alliance, which also is building the Broadstone Oak Lawn, a 375-unit development along Maple Avenue, and Broadstone Vista Ridge, 375 garden-style units located near the intersection Interstate 35 and Texas 121 in Lewisville. Both complexes should deliver in the spring. The company also plans to break ground next year on a fourth project, Broadstone Galleria, a mixed-use development that will include 40,000 sf of retail space along with 330 apartments at Galleria and Inwood roads, Chapman says.

Alliance’s latest venture, Broadstone Wycliff, will put 285 two- and three-bedroom units, featuring several townhouses, around multiple courtyards, including a large one in the center with a lap pool and several barbecue areas. Other amenities will include a fitness center, business center and cyber cafe along with underground parking. Units will have 10-foot ceilings, granite countertops and hardwood flooring in the living, dining and kitchen areas. Apartments will range from 600 sf to 2,000 sf with rental rates of $900 to $1,500 per month.

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