Wednesday, January 12 2022

Builders are working on plans for another large rental community in a redevelopment neighborhood in northern Dallas.

Beginning in 2004, the developers worked on the reconstruction of nine blocks of property along Meadow Road and Manderville Lane, just east of US Highway 75. The area is north of Texas Health Presbyterian Dallas.

Over 2,500 aging apartments on the blocks were demolished to make way for new construction.

Since then, developers such as Wood Partners, Hanover Cos., Embrey Partners of San Antonio and Hines have built thousands of new apartments and homes on the 83 acres of Midtown Park.

Now another large apartment community is en route in the Manderville Lane area.

Apartment builder Fairview Residential plans to build a 475-unit rental community at 7777 Manderville, just south of Meadow Road, according to planning documents filed with the state.

The four-story apartment project will cost more than $ 70 million.

Architecture Demarest Design of the new rental project.

Construction is expected to begin at the end of this year with an opening in 2023.

Fairfield Residential is a longtime apartment builder with projects ranging from suburban communities to downtown residential buildings.

Fairfield’s planned North Dallas project is just a few blocks from where Dallas-based apartment company Lantower Residential plans to build a 353-unit, five-story rental community on the east side of the US 75.

The Dallas-Fort Worth area is the nation’s leading apartment building market. At the end of the third quarter, 38,589 rental units were under construction in North Texas.

During the third quarter, net apartment rentals to D-FW reached a record high of nearly 20,000 units.

And average rents for new luxury rental apartments have increased by around 18% this year.

D-FW developers completed nearly 7,700 apartments in the last quarter, less than half of net rents.

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