After architecture firm Munoz + Albin jumped the gun unveiling Hines’ plan for an apartment tower in Victory Park, the Houston heavyweight is ready to make its mark on the neighborhood.
An affiliate of Hines filed plans to build a 497-unit building and an eight-level parking garage, at 2371 Victory Avenue, the Dallas Business Journal reported. The Dallas City Plan Commission is scheduled to approve the 28-story project as part of its consent agenda Thursday.
The development was previously reported as having 23 stories, but the plan commission request is for 28 floors.
The site, along Stemmons Freeway, just south of the American Airlines Center, is a surface parking lot. The planned apartment building would rise 689 feet and span over 128,000 square feet.
Construction is slated to begin in July and be completed by the end of 2026. The project carries an estimated cost of $150 million. That works out to almost $302,000 per unit.
Collaborators include Munoz + Albin, House & Robertson Architects, landscape architect TBG Partners, civil engineer Pacheco Koch and interior designer Ink + Oro, the outlet said.
The development site is a stone’s throw from a few other developments by Hines: the 17-story One Victory Park office tower and 39-story, 344-unit Victor apartment tower.
It’s a couple of blocks from where Goldman Sachs is building a $500 million office campus, and about a mile from where KDC and Pacific Elm Properties are developing the office building that landed Bank of America as an anchor tenant last year.
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While murmurs of the project surfaced prematurely, concrete details were scarce until now. Munoz + Albin briefly showed a rendering of a 23-story apartment project, called Aire, before removing it from its website.
Hines is one of the titans of Houston real estate, and it operates in 30 countries, but it is emerging in Dallas-Fort Worth. In Dallas’ Uptown neighborhood, the firm is building a 22-story, 345-unit apartment tower called Maple Terrace.
Hines is also at the helm of several large projects in the suburbs, including a 420,000-square-foot spec warehouse development in Wilmer and 240,000-square-foot business park in Lewisville.
—Quinn Donoghue
