Wood Partners Breaks Ground on $36M Apartment Project; Walmart Opens Distribution Center in Fort Worth
- Oct 14, 2013
Wood Partners has broken ground on Alta Maple Station, a $36.3 million luxury apartment project in downtown Dallas.
Consisting of a 212,632-square-foot building with a structured parking garage, the multifamily complex will be located on a 3.5-acre tract at 5522 Maple Ave., in close proximity to a Dallas Area Rapid Transit light-rail station.
“We are very excited about this project,” said Ryan Miller, development associate for Wood Partners in Dallas, in a written statement. “Not only is Alta Maple Station a transit-oriented development but the entire area is under transformation led by the $2.5 billion investment in the Dallas Medical District, which will generate more than 5,000 new jobs.”
Designed by Dallas-based Good, Fulton & Farrell Architects, the four-story apartment community will feature 249 units, with granite countertops, dark wood cabinets, stainless steel appliances and upgraded lighting and plumbing fixtures. Common amenities include a resort-style pool, a modern fitness center, a media lounge and a cyber cafe.
Completion is set for 2015. Pre-leasing is expected to start in late 2014. “Alta Maple Station will provide a lower-cost alternative to Dallas Uptown rents while remaining just minutes away from both Uptown and the central business district,” Miller added.
Wood Partners will serve as its own general contractor.
In commercial news, Walmart added two new distribution centers to its portfolio, including one in Fort Worth. As part of a next-generation fulfillment network aimed at providing a seamless shopping experience, the new facilities will allow the company to deliver U.S. customer orders faster and at a lower cost.
Located at 5300 Westport Parkway in north Fort Worth, the 800,000-square-foot fulfillment center is expected to bring 275 full-time jobs to the area, and already began shipping orders last week.
In addition to the Texas facility, the retail giant next year plans to open a new distribution center in Bethlehem, Pa., that at 1.2 million-square-feet will be its largest one so far. Commercial Property Executive reported last week that the large-scale distribution facility will employ more than 350 full-time positions.
The Bethlehem facility will be fully operated by Walmart, whereas the Fort Worth center will be operated by Brentwood, Tenn.-based OHL, a global supply-chain management solutions company.
Combined, the two outfits will house hundreds of thousands of items, ranging from electronics to toys, apparel, fitness equipment, sporting goods and more.
Photo credits: Walmart.com