Related Group’s plans for North Oak Cliff are coming into focus.
The Miami-based company has finalized plans to build apartments on the site of the bygone Burnett Field baseball park along the Trinity River in Dallas, the Dallas Morning News reports.
The $120 million apartment community would include four stories and a six-level parking garage, according to plans filed with the state. The number of units and square footage weren’t revealed. The property’s zoning allows for building heights up to 20 stories.
Dubbed Manor Oak Farms because of its location near the bygone Oak Farms Dairy plant, the project would start construction in May and open in 2025.
Related purchased the eight-acre site on East Jefferson Boulevard from Cienda Partners last year. It has skyline views and is just across the Jefferson Boulevard Viaduct from downtown Dallas. Cienda still owns more than 30 acres in the area, which are being marketed to apartment and office developers.
The Oak Farms Dairy/Burnett Field property was one of the Dallas locations Amazon considered when it was looking for a second headquarters site before it settled on Arlington, Virgina.
North Oak Cliff’s 75208 zip code saw the biggest 10-year price jump in Dallas, with the median home value increasing 270 percent, from $121,658 in 2012 to $450,000 last year.
Jorge Pérez’s Related Group formally split from longtime partner Stephen Ross’ New York-based Related Companies late last year.
Related Group has built and managed almost 100,000 residences in the last 40 years. While it’s best known for its lavish Miami condominiums, Pérez’s firm set up its first office in Dallas back in 2017.
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