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Dec. 17, 2012

TDI to Build $50M Apartment Project in Las Colinas

By Camelia Bulea, Associate Editor

Irving-based TDI announced plans to build a $50 million apartment complex in Las Colinas.

Construction on the 386-unit building, known as Aston at Las Colinas, is expected to begin in March 2013, the company announced in a news release. The developer recently purchased 6.7 acres of land at Northwest Highway and Las Colinas Boulevard, which will serve as the construction site for the six-story residential tower.

The design will feature urban connectivity between the streetscape and community, “offering residents access to five serene landscaped courtyards, as well as an active courtyard with a resort style pool,” said Brad Taylor, executive vice president & investment partner for TDI.

The developer chose the Las Colinas submarket due to its high occupancy rate, at 96 percent. “More than 100,000 people work in Las Colinas,” noted Taylor.

TDI has been a very active developer, with 1,406 units under construction in Texas, California and Arizona. The company plans to develop an additional 2,320 units over the next 12 months.

Meanwhile, Las Colinas will also be home to a speculative 135,000-square-foot office building to be developed by Dallas-based Wilcox Development. According to the Dallas Business Journal, the four-story building will be located at the southeast corner of LBJ Freeway and Beltline Road, with access to Dallas-Fort Worth International Airport and major freeways.

Dubbed The Wilcox Plaza at Las Colinas, the office project is expected to be ready for occupancy in the second quarter of 2014. The building has been designed by Morrison Dilworth + Wall to qualify for LEED certification.

Photo rendering of the Aston at Las Colinas, via Dallas Business Journal

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