AMLI Acquires Shopping Center for Mixed-Use Project
The development will feature luxury apartments and for-sale townhomes as well as commercial space.
AMLI Residential has acquired an eight-acre shopping center in the Dallas suburb of Addison, Texas. Midway Square Shopping Center is situated within the 79-acre Midway South neighborhood and is expected to be a critical addition to AMLI’s planned AMLI Treehouse mixed-use development.
Upon completion, the mixed-use community will feature 570 luxury apartments, 30 luxury rental townhomes, 56 for-sale townhomes and 3.7 acres of green space. Also included will be 12,500 square feet of stand-alone retail, which is being actively marketed by Thomas Glendenning with SHOP Cos.
Dallas-based Younger Partners brokered the sale of the more than 40-year-old center, once known as the setting for a number of popular restaurants including Midway Point and Jaxx Steakhouse.
“This is a prime property, one of the last commercial properties on the street,” Younger Partners Executive Vice President Ben McCutchin told Multi-Housing News. “We had four or five interested players, but because AMLI was already on the street and had experience, they were the most likely to make the acquisition.”
The center was developed by McCutchin’s older brother 40 years ago. Younger had offices in the center, which progressively fell out of code.
“The city had been harassing the property manager to do a lot of work to bring it up to standard,” he said. “They were talking $2 to $4 million . . . but the center was still making money. It had good tenants.”
READ ALSO: Mixing It Up: The New Mixed-Use Businesses
The prime challenge faced by Younger Partners was gaining buy-in from the city and neighbors of the property, McCutchin recalled: “This involved many visits to the city, with the mayor and the council people. We could have gotten more money for the center, but density was an issue. And AMLI was working on a project just next door, so they were the buyers most likely to belly up to the bar and make the acquisition.”
Sam Kartalis, consultant, Younger Partners, told MHN that AMLI did a great job at getting people behind the project, including gaining city and neighborhood approvals.
“Very few people were against it,” Kartalis said.
Scheduled to see its first move-ins in early 2026, AMLI Treehouse is expected to be fully complete by mid-2027.
Recently, Archway Equities re-entered the Dallas-Fort Worth area by acquiring the Coronado Apartment Homes in Dallas. Built in 1984, the community includes 11 three-story buildings. Amenities include a pool fitness center, clubhouse and grade-level parking spaces.
