HSR-led JV Breaks Ground on 435-unit Class A Multifamily Community in North Dallas

A joint venture led by High Street Residential (“HSR”), the residential subsidiary of Trammell Crow Company (“TCC”), has broken ground on a 435-unit Class A multifamily community in Dallas, Texas. Developed in partnership with Acram Group as co-general partners, and with Parse Capital providing preferred equity, the project will transform a former office site into a vibrant mixed-income residential community. Completion of the project is expected by summer 2028.

Situated on approximately 5.4 acres within an 8.6-acre redevelopment site at 5550 Lyndon B. Johnson Freeway (LBJ), the community will feature a five-story and seven-story residential building integrated with an existing structured parking garage. The community’s robust amenity package includes a clubroom, co-working space, sports lounge, resort-style swimming pool, grilling stations, fire pits, fitness center, 7th-floor sky lounge, bike storage, dog wash station, and package room. Apartment interiors will feature stainless-steel appliances, quartz countertops, tile backsplashes, keyless entry, and full-size washers and dryers.

The development represents a significant redevelopment effort in North Dallas, replacing three vacant office buildings while preserving and upgrading an existing parking garage. Rather than demolishing the entire site and rebuilding from the ground up, the development team incorporated the existing garage into the project’s design, creating a more efficient redevelopment solution and delivering new housing opportunities in a highly accessible location. Structured as a Dallas Public Facility Corporation (PFC) development, the community will include 217 market-rate apartments and 218 affordable housing units, expanding housing choice in one of Dallas’ most established employment and residential corridors.

“This project demonstrates the power of public-private collaboration to deliver much-needed housing in a highly desirable area of Dallas,” said Kevin Hickman, a principal with TCC in Dallas. “We are proud to partner with the City of Dallas Public Facility Corporation and our capital partners to create a community that expands access to quality housing while revitalizing an underutilized site.”

The project team includes WDG Architecture as the architect and OHT Partners as the general contractor. Bank OZK is serving as senior lender. Additional consultants include Urban Structure (structural engineer), Schmidt & Stacy (mechanical, electrical, and plumbing engineer), Kimley-Horn (civil engineer), TBG Partners (landscape architect), and Ellie Aiello Interiors (interior designer).