X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(To read more on the multifamily market, click here.)

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. APARTMENTS SPRING 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.