03 Jun Apartment tower in the works next to Uptown Dallas’ Crescent complex | Real Estate
Kairoi and Chicago-based investor RREEF bought the more than the vacant half block with plans for a new development.
Preliminary plans for the project show a 12-story residential tower that would front on Maple Avenue south of Cedar Springs Road, according to information supplied to Dallas’ Oak Lawn Committee.
Kairoi is scheduled to make a presentation to the design and architecture review committee next week.
Dallas’ GDA Architects Inc designed the proposed residential tower. The plans show a brick building with balconies across the front and a garage in the lower levels.
Kairoi, which formerly operated as Lynd Residential, paid almost $375 per square foot for the Maple Avenue building site. The property is one of the few vacant high-rise development sites available in that area.
The block’s previous owners – a local group – had planned to build a 14-story office tower, but the project never got off the ground.
Kairoi Residential operates in eight states with offices in San Antonio, Austin and Denver. The company has $1.5 billion in projects in the works in Austin, Dallas, San Antonio, Houston, Denver, Miami and Chicago.
In Dallas the developer is finishing up construction on a 297-unit apartment project on Harwood Street in downtown’s Farmers Market District. The new apartment community is called Amelia at Farmers Market.