Dallas to get a 19-story, 351-unit multifamily high-rise

In Dallas, work has begun on a new multifamily high-rise called The Oliver. The 19-story, 351-unit apartment building will be located within The Central, a 27-acre mixed-use development near the Knox/Henderson neighborhood north of downtown Dallas.

StreetLights Residential, a developer of luxury multifamily and mixed-use communities, and Mitsui Fudosan America (MSA), the U.S. subsidiary of Japan’s Mitsui Fudosan Co., Ltd., recently broke ground on The Oliver. The building’s floorplans will consist of studio, one-bedroom, and two-bedroom options ranging in size from 585 to 1,830 square feet. Led by De La Vega Development, The Central will provide 4 million square feet of office, residential, and retail space, plus a four-acre park.

The Oliver’s residential amenities will include a lounge, a coffee bar, a coworking space with a TV and two private coworking offices, and bike storage with a toolkit station. Pet owners will have access to a dog-wash station with high and low wash basins for dogs of all sizes, as well as a blow-dry station next to a private, covered dog park.

The Central mixed-use development, Dallas — Rendering depicts The Central mixed-use development, a 27-acre property near the Knox/Henderson neighborhood north of downtown Dallas.

The fitness space will have a weights area, a flex fitness space designed for yoga and Pilates, and a fitness patio, in addition to cardio and elliptical equipment. And the outdoor pool lounge will offer a catering kitchen and fireplace.

“Our goal is to design a high-quality, timeless building that enriches the lives of residents and the surrounding neighborhood,” Greg Coutant, StreetLights’ vice president of development, said in a statement.

The Oliver will be less than a block away from the DART Light Rail network, which provides a direct route to DFW Airport.

On the Building Team:
Owner/developer: StreetLights Residential
Design architect and architect of record: StreetLights Creative Studio
General contractor/construction manager: SLR Construction, LLC
Electrical engineer: Power Design, Inc.
Structural engineer: Viewtech, Inc.
Plumbing/HVAC: TDIndustries, Inc.

Despite a disruptive pandemic, investor demand for multifamily real estate was strong in 2020, according to a newly released Yardi Matrix Bulletin. Around 252,000 apartment units were absorbed last year. That’s about 1.7% of total market stock and down 12% from the 286,300 apartments purchased in 2019.