|By Marketwired .||
|June 9, 2014 02:42 PM EDT||
DALLAS, TX -- (Marketwired) -- 06/09/14 -- Wood Partners, L.L.C. announced that it has begun construction on Alta Farmers Market, a 313-unit apartment community on 4.7 acres near the Dallas Farmers Market in downtown Dallas. Wood Partners expects construction to be completed in late 2015 and apartments to be available for lease in the second quarter of 2015.
"We broke ground on Farmers Market just over a month ago and are making great progress," said Wood Partners development associate Ryan Miller. "With the revitalization of the Dallas Farmers Market next door and a resurgence in Deep Ellum, our residents will have great access to restaurants and entertainment in the area all while being in close proximity to the downtown office market."
Plans for Alta Farmers Market, on Cesar Chavez Boulevard near Taylor Street, call for a four-story, 262,000-square-foot building with a structured parking garage. Amenities will include a club room, fitness facility featuring TechnoGym equipment, two large courtyards containing a pool, two water features, grilling area, fire pit, and a covered outdoor social lounge between the courtyards. The building, designed by Good, Fulton & Farrell, will house one, two, and three bedroom units, all with stainless steel appliances, recycled-glass countertops, faux wood flooring, and upgraded fixtures and lighting. The property's highlight will be the top floor deck and lounge with 180 degrees views of the downtown skyline.
Centrally located with easy access to employers, shopping and recreation, Alta Farmers Market is close to the Dallas CBD and Baylor Hospital with Uptown and Klyde Warren Park nearby.
According to the National Association of Home Builders' formula to determine the local impact of multifamily housing in typical metro areas, adding 313 rental apartments will generate $23.7 million in local income, $2.5 million in taxes and other revenue for local governments, and 109 local jobs.
Wood Partners, one of Dallas's busiest developers, is also building on Maple Avenue near the Medical District, West Commerce in Trinity Groves, and at Coit and 190 in Plano. The developer is also involved in the Sylvan Thirty project at Sylvan and I-30.
About Wood Partners
Wood Partners is a national real estate company that acquires, develops, constructs and property manages high density and mixed-use communities. It ranks consistently among the top five multifamily developers in the country. Through quality construction, responsible land development and intelligent design, our communities reflect the aesthetic and social fabric of the community and provide a luxurious living experience at a fair price. The company has been involved in the acquisition and development of more than 49,000 homes with a combined value of more than $7.6 billion nationwide. The company currently owns 77 properties with a combined total of 20,200+ units. Wood Partners has offices in 16 major markets nationwide including Atlanta, Baltimore, Delray Beach/South Florida, Boston, Charlotte, Dallas, Denver, Houston, New York, Southern California, Orlando, Phoenix, Raleigh-Durham, San Francisco, Seattle, and Washington, D.C. To learn more about Wood Partners, please visit our website, www.woodpartners.com.