OHT Partners Begins Construction on Dallas Property
- Jul 26, 2021
Development firm OHT Partners LLC has commenced construction on Lenox Lake Highlands in Dallas. The new apartment community will be part of the Lake Highlands Town Center mixed-use development. Lenox Lake Highlands is to open in mid 2022.
Situated at the northeast corner of Walnut Hill Lane and Skillman Street, Lenox Lake Highlands will be a 403-unit community featuring one- to three-bedroom units. The residences will range in size from 600 to 1,640 square feet. Carports and private yards will be available. A 1,300-square-foot collaborative work studio is among amenities.
“Millennials are migrating from the urban core in search of better schools and more space but are increasingly finding they can’t afford to buy a home in popular areas such as Lake Highlands,” Howell Beaver, OHT managing director, told Multi-Housing News.
Last month, Bell Partners purchased two Austin properties developed by OHT Partners.
The 16.7-acre Lenox Lake Highlands property, which OHT purchased last year, includes five acres zoned for residential and commercial use. OHT intends to develop a second phase there in addition to Lenox Lake Highlands. The location promises short commutes to major job hubs, including Texas Health Presbyterian Hospital Dallas, 1.5 miles away, and Medical City Dallas less than 4 miles distant. Also proximate are the corporate headquarters of Texas Instruments and other Telecom Corridor employers.
According to a statement from OHT, the transit station next door to the development offers train commutes of 30 minutes to downtown. Also close by are neighborhood retailing, dining, parks and trails.