SOURCE: Wood Partners

Wood Partners

January 20, 2015 13:11 ET

Wood Partners Breaks Ground on 216-Unit Infill Development Next to Trinity Groves in Dallas

Multifamily Community to Offer Affordable Apartments in Highly Desirable Location

DALLAS, TX--(Marketwired - Jan 20, 2015) - Wood Partners, LLC has broken ground on Alta Yorktown, a six-acre, 226-unit multifamily rental community one mile west of downtown Dallas. Next to the hip new Trinity Groves restaurant, retail and entertainment district, this infill development is expected to be open for lease in the early fourth quarter of 2015. Construction is expected to be completed in the second quarter of 2016.

Wood Residential Services, Wood Partners' property management division, will manage the property at 660 Yorktown Street.

"With its location near the base of the new Margaret Hunt Hill Bridge that links West Dallas with the CBD, Victory and Uptown areas, Alta Yorktown will provide a strategic and highly desirable location at an extremely reasonable cost," said Ryan Miller, associate director of Wood Partners' Dallas office.

Located two miles north of the trendy Bishop Arts District, Alta Yorktown will offer spectacular views of the downtown Dallas skyline. In addition, this new community will be convenient to a number of business, retail and entertainment attractions, including Victory Park, the Dallas Design District and Uptown.

Designed by Good, Fulton and Farrell, Alta Yorktown will be an urban-design community with 187,000 rentable square feet, 85 garages, 333 total parking spaces and a small retail parcel. The seller has retained a one-acre parcel of the larger tract for additional retail development. A pool and enhanced interior courtyard will be central features, and residents will have access to grilling stations and/or firepits for year-round social activities.

Studios and one-, two- and three-bedroom apartments will average approximately 827 square feet, with monthly rents averaging just more than $1,300 -- comparable to the primary rental comps for a newer property. Interior finishes include granite countertops, stainless steel appliances, tile backsplashes, Shaker wood cabinets, upgraded fixtures and faux wood flooring. The apartments will also include wireless technology packages.

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 53,000 homes with a combined value of more than $8.3 billion nationwide. The company currently owns more than 75 properties with a combined total of 21,000+ units. Wood Partners has offices in 18 major markets nationwide including Atlanta, Austin, Baltimore, Delray Beach/South Florida, Boston, Charlotte, Chicago, 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