Over 50,000 North Texas apartments are under construction and hundreds of new rental communities are under construction in the Dallas area. But a new project by fledgling builder Mintwood Real Estate may be one of Dallas-Fort Worth’s most distinctive developments.
Mintwood was founded just three years ago by executives from the area’s largest apartment company and is nearing the completion of its first above-ground apartments in North Oak Cliff.
While many builders head to the “suburb” to find land for development, Mintwood sticks close to downtown with its projects.
“We love the existing infrastructure and amenities in the city,” says Katie Slade, who is growing the apartment development company with partner Nick Benhouse. I think it’s the type of area that you want.
“It was even emphasized during COVID.”
Mintwood is completing construction on the 55-unit 212 Melba Apartments located between the Bishop Arts District and Oak Cliff’s new Deck Park.
Designed by Dallas architect Omniplan, the four-story boutique rental project replaced an old multi-family building.
“It was for sale in MLS, but the vision was to rebuild an old apartment building, so no one wanted it,” Slade said. After digging into what zoning can do, we found a way to make the project work.”
The architects took inspiration from the area’s older homes, where the newer apartments are lined with pointed roofs.
“The gable component speaks to what’s in your neighborhood,” says Slade. “This is a more modern approach.”
The smallest unit in the 212 Melba building is just over 500 square feet and rents less than $1,300 per month.
Mintwood partnered with Dallas investor OCI Group to build the Oak Cliff apartments.
To keep operating costs down, and given the scale of the project, Mintwood eliminated many of the large public areas found in many new apartment communities. “We have a very small amenity area, a small lounge,” says Slade. “We have some of his 10 x 10 rooms where Peloton bikes and treadmills fit.”
Hired by Mintwood Housing management company guild Run all local projects. “It was one way for us to work with them when we didn’t need on-site management,” she said.
Mintwood has applied for a building permit for the upcoming Oak Cliff development. A 219-unit rental community called Oakhouse is planned on Lancaster Avenue East He Colorado Blvd.I purchased the land for the condominium Investors Cienda Partners, Owns an old Oak Farm dairy farm across the Trinity River from downtown and other nearby properties.
Approximately half of Oakhouse’s rental units are reserved for residents earning less than 80% of the area’s median median income. “Everyone has pushed rents so high that there’s a labor force to accommodate a scarce market that is underserved,” Slade said.
The City of Dallas provided Public Facility Corp. funding to help finance the Oakhouse project.
WDG Architecture designed a six-story building that includes a swimming pool, lounge area, fitness center and Skyline Lounge. The building will open in 2024.
In addition to its new development, Mintwood was hired by Dallas real estate firm Woods Capital to create a rental unit Two office skyscrapers in downtown Dallas: Santander Tower and Bryan Tower.
In East Dallas, a historic bakery building on Carroll Avenue is being converted into loft-style apartments.
“We like complex projects because that’s where we can add the most value,” says Slade. “We take the time to study it and find the right thing.
“We are a small but mighty team of people and we are having a lot of fun.”
Mintwood is also considering projects in other Texas cities and out of state. “There are things in other markets that we can’t announce yet,” says Slade.