Sycamore Development Partners and Stratega Capital plan to build a 398-unit multifamily community in Uptown Dallas. The developer plans to complete the city approval process by the end of the year.
The proposed 30-story tower will go up on a surface-level parking lot at the intersection of McKinney Avenue and Hall Street. The Dallas Business Journal reports the mixed-use development plans to have new retail and restaurant space on the ground floor with mixed-income housing filling 28 floors.
The residential portion of the project plans to include 273 market-rate units and 125 affordable units across studio, one-, two-, and three-bedroom floor plans. The affordable units will be dedicated to households earning at 80% of the area median income level.Â
The proposed cost to develop the project will total between $250 million and $300 million. The project is expected to be completed in 2029. Gensler is the architect for the project.
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