StreetLights Residential has filed plans with the Texas Department of Licensing and Registration for a residential high-rise spanning more than 234,000 square feet along Monticello Avenue on the east side of Highway 75.
Construction of the 56-unit Galatyn is expected to cost upwards of $73 million, the Dallas Morning News reported.
The Dallas-based multifamily developer already has a few apartment complexes around the metroplex, including the 22-story McKenzie, a luxury apartment building just off McKinney Avenue. After StreetLights built the McKenzie in 2018, several other multifamily towers began popping up around it, including the just-completed, 14-story Modera Katy Trail and the 19-story Nove at Knox. The Galatyn marks the firm’s return to North Dallas as its last few projects have been closer to downtown such as the Christopher in Uptown and the Hamilton in Deep Ellum.
StreetLights has recently been mentioned in connection with De La Vega’s The Central, a highly anticipated project set to be the tallest, densest development in the area north of downtown.
Its subsidiary StreetLights Creative Studio is attached as the design firm. Plans call for a pool, dog park and a 90-spot below-grade parking garage. Construction is set to kick off early next year with an expected delivery date set for 2025.
StreetLights also has two pending projects in Dallas’ Oak Lawn neighborhood and near Cityplace north of downtown.
While new projects and even land acquisitions have slowed amid shaky market conditions, investors and developers remain bullish on North Texas multifamily due to the region’s consistent population growth.
— Maddy Sperling