Kairoi Residential Plans Apartments on Knox Street in Dallas

A San Antonio-based apartment builder bought a development site along Central Expressway in Dallas recently.

Kairoi Residential bought land north of Knox Street for a planned 250-unit apartment complex, the Dallas Morning News reported.

The developer spent two years assembling the property, company president Tyler Sibley told the outlet. The address wasn’t reported.

The site is currently home to low-rise residential buildings that were built in the 1950s. Jake Milner of Davidson & Bogel Real Estate assisted with the purchase.

“We are very specific in terms of where we choose to develop,” Sibley previously told the outlet. “None of these projects for us are rinse and repeat.”

The Knox project is one of multiple developments Karoi has in Dallas. The 12-story high-rise Selene at 2620 Maple Avenue opened last year. It also has the 297-unit, five-story Amelia at Farmers Market in downtown and 350-unit Boheme in Oak Cliff.

A few miles south of the Knox Street project, developer HN Capital recently bought a chunk of land at the western end of Hi Line Drive near the Trinity Strand Trail for a redevelopment project. “I am still thinking through development ideas, but it would be in the spirit of making Hi Line Drive a truly elevated urban street and respond to the park being planned at the entrance of the Strand Trail that sits in front of this property,” HN Capital CEO Vipin Nambiar said.

In addition, developer Westdale is working on redeveloping a block in the historic Deep Ellum neighborhood.

Even farther south, North Carolina developer Quarterra Multifamily filed plans with the state to build 372 units at 3500 Colorado Boulevard, which is on the west side of the Oak Cliff neighborhood. The project is estimated to cost $70 million, or about $188,000 per unit, with construction starting in September and lasting about two years, according to the Texas Department of Licensing and Regulation filing.

— Victoria Pruitt