Trammell Crow Residential will be breaking ground this month on a 15-story, 159-unit tower in the Uptown district.
Trammell Crow named this project Alexan Katy Trail. The “Alexan” name continues a theme the developer has been using for its residential projects in and around the downtown area. For example, there is The Alexan at 3333 Harry Hines Blvd., a 10-story, 365-unit apartment tower that was recently completed just nine blocks to the southwest of this latest project.
Alexan Katy Trail was introduced to the Dallas Plan Commission the first week of January as a replat of three lots in the 2900 block of Carlisle Street. The replat assembled all of one lot and sections of two others to create a 1-acre lot for the project.
Listed on the tax rolls as 2902 Carlisle St., the largest section has been occupied by a modest two-story office building with 10,250 square feet, and that will be getting knocked down over the next several weeks. According to Trammell Crow, construction on the tower itself won’t begin until August.
Steve Bancroft, senior managing director at Trammell Crow Residential, has previously told the media that Alexan Katy Trail will be marketed to a more mature demographic than other Uptown residential properties, and will have larger units—1,072 square feet on average.
The tower will have five levels of concrete parking, with the apartment units taking up the next 10 stories.
GDA Architects LLC has been drawing up the architectural documents. Plans are to complete the tower by November 2018, but the first units are to be available for lease three months earlier.
Alexan Katy Trail completes its name to highlight its proximity to the Katy Trail, which is just one block east. The project site’s boundary streets include Vine Street, Cole Avenue and Allen Street. Trammell Crow has not yet launched a website to market leases, but if The Alexan is any indication, monthly rents will be in the range of $2.63 per square foot, or an average of $2,822 per month.
Trammell Crow snapped up one of the few remaining office properties in a neighborhood that is already heavily developed with high-density, upscale residential properties. Just across Vine from the project site is the Gables Villa Rosa, and on the other side of Carlisle the new tower will be facing Gables Katy Trail.
Trammell Crow closed on the Carlisle office building in March for an undisclosed price. According to Dallas Central Appraisal District, the appraised market value was slightly above $2.3 million. The seller was Carlisle Partners LP.