RED Development to Break Ground on 800 KSF Mixed-Use Project in Uptown Dallas
- May 15, 2014
Phoenix-based RED Development plans to break ground on Akard Place, an 800,000-square-foot mixed-use project in Uptown Dallas.
RED is working with several prominent companies as key partners in the project. Dallas-based StreetLights Residential will oversee development of the multi-family component, Seattle-based Graphite Design Group serves as design architect, and Houston-based landscape architecture firm The Office of James Burnett (OJB) will help shape up the project. OJB has been involved in multiple projects in Dallas, including Klyde Warren Park, the new $100 million urban recreational enclave that bridges the city’s downtown cultural district with the burgeoning mixed-use neighborhoods to the north.
“The time is clearly right to build on the growing popularity of Uptown Dallas and the exciting live-work-play concept that has taken root in this part of Dallas,” said Mike Ebert, managing partner. “We are seeing strong demand from young professionals and empty-nesters who are attracted to this walkable, high-energy uptown neighborhood, as well as keen interest in the kind of attractive office environment we are planning.”
To be located at Field Street and Cedar Springs Road, Akard Place will consist of a residential tower and an office high-rise sitting atop retail, restaurant and parking areas.
Project specifics include a 16-story office building with panoramic views of the city; a 20-floor residential high-rise featuring 300 apartment homes with balconies and views; nine levels of parking; and 75,000 square feet of retail and restaurants at street level. Additionally, Akard Place will showcase a central plaza featuring open space with large trees in a park-like setting.
Designed to cater to today’s sophisticated corporate tenants, the Class A office structure will offer highly efficient floor plates, flexible spaces and contemporary design elements, all complemented by first-class amenities and a premier location within one of the city’s most desirable submarkets. Burson Holman and Shannon Brown with CBRE Group Inc. will provide leasing services for the office building.
Demand for multifamily product is expected to remain strong in Uptown Dallas, as the area is experiencing tremendous growth. “More and more, people want to live in Uptown Dallas,” said Doug Chesnut, CEO of StreetLights Residential.
“The Akard Place location is a truly excellent site for new residences, and RED is creating an exciting, mixed-use destination for Uptown Dallas. RED’s commitment – and track record – for high-quality execution matches our own approach, and we are very pleased to partner on Akard Place,” he added.
The premier complex is situated southeast of American Airlines Center and within walking distance of The Ritz-Carlton, the Perot Museum of Nature and Science, and Klyde Warren Park.
The project is expected to be complete in 2017.
Rendering of Akard Place in Uptown Dallas courtesy of RED Development via Official Website