A Texas-based real estate firm — with offices in Dallas, Austin, and Houston — is set to break ground on a 17-story residential tower in Deep Ellum come 2023.
Stonelake Capital Partners is spearheading the development of the multifamily, 17-story high-rise on a site currently occupied by a single-story office and industrial building.
The $123 million-plus structure will be nestled between Malcolm X Boulevard and Hall Street at 2916 Taylor Street, in Dallas’ Deep Ellum district, according to planning documents filed with the state.
Called “The Ford,” the project will feature 13 floors dedicated to multifamily apartment space built on top of a four-story parking garage.
The tower’s fifth floor will be reserved for various amenities and a pool area. The ground floor will also house a residential leasing office and co-working spaces.
Construction is expected to begin in May of 2023 and take approximately two years to complete, per documents filed with the Texas Department of Licensing and Regulation.
Houston-based Ziegler Cooper Architects (ZCA Residential) was contracted to design the building.
With more than $3.5 billion in real estate across the Sun Belt, the Texas-based real estate firm also has roughly 2 million square feet of industrial projects planned for North Texas in the coming years.
One of these projects is a 25-acre Trinity Green apartment and single-family home community off Singleton Boulevard in West Dallas.
Meanwhile, Stonelake recently partnered with local businessman Mike Karns to develop plans for a two-block property at Woodall Rodgers Freeway and Field Street, encompassing the popular El Fenix restaurant.
Karns is the CEO of Firebird Restaurant Group, which owns El Fenix.
The two are also working together to redevelop the Meso Maya restaurants into mixed-use residential office towers.
In downtown Austin, Stonelake is working on building a 47-story office, apartment, and retail tower.