Two Dallas Apartment Complexes get Financing Approval

Two developers of a pair of apartment complexes in the Dallas-Fort Worth metroplex recently secured financing for their separate projects.

Endeavor Real Estate locked in financing for their luxury high-rise at 2700 McKinney Avenue named Lucille. Additionally, StreetLights Residential snagged $54 million in equity financing for an apartment tower in Plano, Texas, which will be built in the redevelopment of The Park at Legacy at 6501 Legacy Drive.

Lucille will feature 265 units across 22 stories in Uptown, according to the Dallas Morning News. The development is helmed by Austin-based Endeavor and equity partner Canyon Partners Real Estate. Construction on the site will begin later this summer, according to the outlet, and the high-rise is expected to begin welcoming tenants by the later months of 2028. The property is set to span 320,000 square feet, with 10,000 for ground floor retail, a rooftop pool, an observation deck and four stories of below-grade parking. Endeavor did not disclose the cost projections or estimated value, according to the outlet.

Endeavor principal Will Marsh told the publication that the building is designed to accommodate working professionals in the burgeoning Uptown financial district. Other amenities set for the complex include a fitness center with an infrared sauna and a dog grooming spa.

Dallas-based StreetLights’ facility is a part of the redevelopment of the 107-acre office campus into a mixed-use development chock full of apartments, hotels and restaurants. Minneapolis-based Northmarq helmed the financing, which is structured over five years, according to the Dallas Business Journal. Coincidentally, StreeLights’ building will also span 22 stories, and construction is also projected to begin over the summer. Apartments in the complex will begin at 682 square feet and run as large as 2,843 square feet, said Greg Coutant, StreeLights’ senior vice president of development.

Elsewhere in The Park at Legacy, construction began on a 13-story hotel inspired by Japanese culture, as well as a five-acre park that snagged a $15 million donation from Toyota.

— Hunter Cooke