Cypress Real Estate Buys Development Site in TX
- Feb 22, 2018
Cypress Real Estate Advisors Inc. has acquired a 3.8-acre site in Dallas, occupied by the former headquarters of Credit Union of Texas. Transwestern arranged the sale and represented both the seller and the buyer in the transaction. On the site, Cypress Real Estate plans to develop a four-story, urban-style apartment community. JHP Architects is the designer of the project, and Oden Hughes Taylor Construction is the general contractor.
Located at 4600 Ross Ave., the 294-unit asset is situated near State Route 75 and is approximately 10 minutes from downtown Dallas. The area offers various dining and shopping options, including Cityplace Market, Jimmy’s Food Store and Kroger Fresh Fare. The property is also near employment centers such as the city’s Central Business District and Uptown neighborhoods.
“Large in-fill sites are difficult to find in this area, so being able to buy and rezone a site along Ross Avenue was a real coup for Cypress,” said Senior Vice President Steve Williamson of Transwestern, in prepared remarks. Williamson represented both the seller and the buyer in the transaction.
Image courtesy of Transwestern