Trammel Crow Residential is preparing yet another Alexan apartment community project, this one in the Oak Lawn Special Purpose District west of Uptown.
On Thursday, the City Plan Commission approved its application for a development plan for a multi-family development that would raise the building height from what exists there today by several stories. The vote took place without a presentation or discussion by the commissioners.
Trammel Crow Residential is the second largest developer of apartment units in the Dallas-Fort Worth area, having constructed nearly 2,000 units in 2016.
The Alexan Apartments brand is what TCR is best known for. The company has built Alexan communities in seven states, including most major Texas markets.
This latest project, listed as 2625 Throckmorton Street, proposes to occupy about three-quarters of a city block bounded by Fairmount, Throckmorton, Reagan and Brown streets, and is six blocks west of Turtle Creek. It’s just three blocks west of a Toll Brothers multi-family project at Congress Avenue and Wellborn Street.
The northeast corner of the block at Brown and Reagan is a vacant lot that is excluded from the project.
The planned development process on this Alexan began last year. On Sept. 13, 2016, City Council passed an ordinance amending Planned Development Subdistrict 78 for multi-family uses. On property that included the aforementioned block and the next two adjacent blocks westward, up to Douglas Avenue.
Proceeding under the limited liability company name of DRI/Maple AF3 Apartments LLC, TCR was granted the zoning in September as a conceptual planned development district. The plan is for a 340-unit complex.
This site is currently occupied by the Village Square Apartments, 4014 Fairmount St., a complex built in 1971 that will, of course, need to be demolished. DRI/Maple AF3 Apt LLC is the owner of record, according to the county appraisal district.
Units at Village Square are generally two-story one-bedrooms that average 750 square feet and rent in the low to mid $800s. The property is undervalued for its location. It is surrounded by high density apartment developments that were more recently built and command higher rents. These include 4410 Fairmount, and the IMT Seville Uptown at 2626 Reagan; both are four-story communities.
The ground floor site plan for Alexan Maple, as it is named on the Proposed Development Plan by JHP Architecture, describes a six-story structure with a parking garage at ground level and two levels of underground parking for a total of 498 spaces. The total building height is 75 feet.
Residential units skirt the ground level parking on Fairmount and Throckmorton. The garage entrance is on Brown Street and the leasing office on Throckmorton. The total ground level square footage is 92,913 square feet.
There is an open space requirement of 12,000 square feet. However, TCR is proposing two above ground courtyards that connect along a wide promenade for a total of 16,185 square feet. In addition, there would be a small ground level dog run.
According to state records, the project is scheduled for completion in the fourth quarter of 2018. TCR did not provide the state a reliable estimated cost, however, similar Alexan projects have been near $40 million.