Beyond the Arts District and downtown Dallas, Ross Avenue has attracted significant interest from multifamily developers in an area between U.S. 75 and Greenville Avenue.
Cypress Real Estate Advisors plans to develop nearly 300 apartment units at the site of the former headquarters of the Dallas Teachers Credit Union, 4600 Ross Ave. The property’s close proximity to downtown and Uptown employers was one of the draws, Cypress said. The development is expected to be ready for occupancy in 2020.
Leon Capital Group, meanwhile, plans to preserve a portion of the Dallas Independent School District’s former headquarters at 3700 Ross Ave. and convert it along with property behind the existing building into a multifamily development called “The Academic.”
“We’re excited to be a part of the collaborative effort to protect and renew the fabric of Ross Avenue.”
The development will include about 365 rental units, a parking garage, and a courtyard with expected completion in January 2020.
“We’re excited to be a part of the collaborative effort to protect and renew the fabric of Ross Avenue,” David Cocanougher, managing director of the multifamily division at Leon, says in a release. “This busy street near downtown’s east side is getting a major makeover with new housing and retail.”
About a block away from the Leon Capital development, Trammell Crow Residential became one of the first multifamily entrants to this section of Ross Avenue.
In September 2016, Trammell Crow closed on property it assembled from multiple owners located several blocks east of downtown between Caddo Street and Haskell Avenue for its 292-unit Alexan Ross luxury complex at 4001 Ross Ave. Units are expected to become available this summer.
Trammell Crow Residential also developed a 321-unit rental community on Bennett Avenue, a block off of Ross, and in 2015 sold a complex it developed at 3501 Ross Ave. to Olympus that is now called Olympus at Ross.
A version of this article was published in the Dallas-Fort Worth Real Estate Review.
With new projects planned in the urban core and multifamily interest extending development of Ross Avenue east of 75 to Greenville, it’s looking as if the best is yet to come. Read the rest of the package here, from our roundup of the architects who put a face on the arts district to the latest projects on the radar.
The thoroughfare transects the northern edge of downtown Dallas, and renovations and new construction are transforming its place as a hub for offices, retail, and residential.
Recent, active or planned construction on Ross Avenue.
Some of the world’s most renowned architects have designed key buildings in the Arts District and Downtown Dallas. Here’s a roundup.
Reinvention doesn’t end at 75: Ross Avenue is attracting significant interest from multifamily developers in an area between U.S. 75 and Greenville Avenue.
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