Home News New York developer plans its first Dallas deal in North Oak Cliff

New York developer plans its first Dallas deal in North Oak Cliff

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A New York real estate company expanding to North Texas has purchased a site near downtown Dallas for an apartment project.

Related Cos. Is developing real estate nationwide and is best known for the construction of Manhattan’s groundbreaking project, the Hudson Yards, which has been billed as New York’s largest private real estate development since the Rockefeller Center was built in the 1930s. Has been done.

Last year, Related purchased the Farmers Branch office tower, but now the developers snapped the construction site of the North Oak Cliff apartment.

The affiliate acquired land next to the former Oak Farms Daily across the Trinity River from downtown.

The vacant properties in East Jefferson Boulevard and Colorado were one of the Dallas locations that Amazon considered when looking for a second headquarters site.

Next to Interstate 35E, the property was once the site of the Burnett Field Baseball Stadium.

Since 2014, Dallas’ Cienda Partners has acquired more than 30 acres of land, including the old Oak Farms Dairy, which has been sold to apartment and office developers.

Philip Wise, co-founder of Cienda Partners, said: “We’ve been working for over a year and they’re still impressed with this site.

“They had never actually been to Dallas and needed an exciting project.”

March, Cienda Partners Earn $ 25 Million in Financing Announced that a first-stage apartment project is underway for all property from the Pegasus Bank of Dallas.

“Development of Sienda’s Oak Farm is one of the hottest places from downtown to North Oak Cliff,” said Barry Hancock, one of Cienda’s founding partners, in a statement.

Relatedly, we aim to start building a site that attracts the attention of the rental community of over 400 units. Construction of the project will begin next year.

This is one of several new apartment developments underway in North Oak Cliff and other projects Cairo ResidentialMinthwood Real Estate and Banyan Residential..

Mr. Wise said interest in the property was accelerating as an affiliate boarded Oak Farm.

“”We respond to a variety of inquiries, “he said. “When a connection comes, it opens up many possibilities.

“There is a 20-story multi-purpose zoning throughout the site, giving you complete flexibility.”

Founded over 45 years ago, Related has over $ 60 billion in assets, including projects under development. The company has offices in New York, Boston, Chicago, Los Angeles, San Francisco, South Florida, Washington DC, Abu Dhabi and London.

“We’ve been looking at the Texas market for some time,” John Paul Perez, president of the affiliate group, said in a statement. “With the acquisition of this amazing site, we are one step closer to offering a trophy project that everything in Dallas can be proud of.

“Oak Farm, with its high visibility, closeness to downtown and access to the Dallas park system, is a great place to showcase Related’s unique development approach.”

Affiliated company of affiliated company last August 14201 I bought International Plaza I, a 13-story office tower in North Dallas Parkway. Built in 1999, the tower is the first of three International Plaza campuses and houses the headquarters of the Tenet Health System.

Cienda Partners purchased the old Oak Farms Dairy in 2014.(Staff photo)

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