SOURCE: Wood Partners

Wood Partners

October 07, 2013 13:29 ET

Wood Partners Building 249-Unit Apartment Project in Emerging Dallas Neighborhood Close to Transit, Downtown

DALLAS, TX--(Marketwired - Oct 7, 2013) -  Wood Partners, one of the nation's most active multifamily developers, has broken ground on a $36.3 million, four story apartment community adjacent to a Dallas Area Rapid Transit light rail station.

Alta Maple Station will feature 249 luxury units with granite countertops, dark wood cabinets, stainless steel appliances and upgraded lighting and plumbing fixtures. Residents will enjoy a resort style pool, a fitness center with the latest Technogym equipment, a media lounge and cyber cafe. The 212,632-square-foot building with a structured parking garage will be on nearly 3.5 acres.

"We are very excited about this project," said Ryan Miller, development associate for Wood Partners in Dallas. "Not only is Alta Maple Station a transit-oriented development, but the entire area is under transformation led by the $2.5 billion investment in the Dallas Medical District which will generate more than 5,000 new jobs."

Located at 5522 Maple Ave, the community is close to major local employers including Parkland Hospital, the University of Texas Southwestern, Southwest Airlines and Dallas' central business district.

Leasing is expected to begin in late 2014 with construction completed in early 2015.

"Alta Maple Station will provide a lower cost alternative to Dallas Uptown rents while remaining just minutes away from both Uptown and the central business district," Miller said.

Wood Partners will operate as its own general contractor, providing supervision and contracting with qualified subcontractors to perform the work. The architect for the project is Good, Fulton & Farrell Architects.

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 was ranked the nation's No. 2 multifamily developer in 2012 based on 5,100 unit starts. 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 47,000 homes with a combined value of more than $7.0 billion nationwide. Wood Partners has offices in 16 major markets nationwide including Atlanta, Baltimore, Delray Beach, Boston, Charlotte, Dallas, Denver, Houston, New York, Newport Beach, Orlando, Phoenix, Raleigh-Durham, San Francisco, Seattle, and Washington, D.C. To learn more about Wood Partners, please visit our website at www.woodpartners.com.