StreetLights, Mitsui Fudosan to Kick Off Dallas Luxury Project
The project will add 365 units to the Metroplex's supply.
A joint venture between StreetLights Residential and Mitsui Fudosan America will break ground on a 365-unit luxury project in Dallas. Construction is set to kick off this month, with completion expected in 2029.
The 20-story tower will rise at the southeast corner of Park Lane and U.S. Route 75, across the street from the 1.9 million-square-foot NorthPark Center mall and adjacent to The Shops at Park Lane, another 550,000-square-foot retail center. Downtown Dallas is about 7 miles southwest.
Floorplans call for studio and one- to three-bedroom layouts that range between 505 and 1,707 square feet. Community amenities are slated to include a swimming pool, gym, coworking lounge and coffee bar, among other features. The community will also have direct access to the nearby retail property.
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Mitsui Fudosan America is a subsidiary of Japan’s largest real estate company. Its holdings across the U.S. comprise more than 6,000 completed apartments and another 5,000 underway, as well as more than 10 million square feet of commercial space and 740 hotel keys.
This project marks the second collaboration between Mitsui Fudosan and StreetLights. The two first joined forces to construct The Oliver, a 351-unit tower also in Dallas. That property debuted last year roughly 5 miles from the joint venture’s new development.
Dallas’ multifamily completions go up
The Oliver was one of the 169 properties to come online across the Metroplex in 2025, according to Yardi Matrix data. More than 42,200 units debuted, marking a 4.3 percent growth year-over-year and representing 3.5 percent of the total stock, a recent Yardi Matrix report shows.
Despite the high number of multifamily housing completions, demand remained strong and occupancy even increased 30 basis points year-over-year to 93.1 percent in November, remaining however below the national average of 94.6 percent, the report shows. The average advertised asking rent ticked down 2 percent year-over-year in December.
Development continued into 2026, with Stryker Properties and Griffon Capital Management securing a $57 million construction loan for a 313-unit project in Frisco, Texas. Completion is slated for 2028.
