Southern Land Company’s Profitable Exploration into Submarkets
- Jul 09, 2015
Dallas—Southern Land Company is developing a 270-unit, 18-story luxury high-rise multifamily building on Oliver Street in the Knox neighborhood of Dallas.
“We study markets, and we really dig into submarkets and we really liked this submarket for a high-rise project,” Michael McNally, Southern Land Co.’s senior vice president of mixed-use development, told MHN. “We liked the proximity to the bars, restaurants, retail and Highland Park and thought the location was great and it was a project we wanted to pursue.”
Units range from 500 square feet to 3,000+ square feet, and offer one-, two- and three-bedroom apartments. In-unit amenities include high-end stainless steel appliances, washer/dryer, quartz countertops and 10-foot ceilings.
Architect Gromatzky Dupree & Associates (GDA) designed the community, which will feature unobstructed views of downtown Dallas. The property will consist of multiple outdoor amenity spaces including a 10,000-square-foot private park that connects to McKinney Avenue. This Charleston-style courtyard will feature a dog park and outdoor seating area with grills and fireplace.
Other amenities include a resort-style pool and private cabanas, a fitness center and residents’ lounge. Additionally, residents will have access to four levels of above ground parking and private garage options.
Southern Land is no stranger to the area, as this will be the company’s fifth project in the Dallas/Forth Worth area, joining Junction 15 (historic downtown Plano), The Lofts at Watters Creek (Allen), Arthouse (Keller) and Tucker Hill (McKinney).
“We have a nice presence and history here,” McNally said. “We look for submarkets that are strong and slightly underserved where we can come in and create a unique asset, that’s heavily amenitized and walkable. This project checked off a number of boxes for us.”
The community is close by the Katy Trail and is within a five-minute walk to more than 21 restaurants, 32 retails shops and a new Trader Joe’s grocery store.
Construction is set to begin in the first quarter of 2016.