A local developer known for retail and mixed-use projects is thinking luxury multifamily for its latest Dallas deal, targeting an area that’s seen surging growth.
Trademark Property Company is seeking local approval to build a seven-story, 414-unit complex spanning 437,000 square feet at 3900 Lemmon Avenue, the Dallas Morning News reported. Grocery chain H-E-B purchased the Oak Lawn block in 2017.
The Oak Lawn Committee gave “overwhelming support” to the Trademark venture, which includes a retail component and would require a zoning change from the City of Dallas, the outlet reported.
“We worked really hard and collaboratively with the neighborhood to get to this point,” Trademark CEO Terry Montesi told the outlet.
The property, which previously held several residential and commercial buildings, was thought to be a future H-E-B location, as a law firm representing the San Antonio-based grocer began assembling the block in 2014.
GFF has been tapped as the architect. Renderings show three landscaped interior courtyards, balconies for select units and a ground-floor restaurant. Underground parking is also planned.
Fort Worth-based Trademark has mainly focused on retail developments and restaurants since its formation in 1992, with a portfolio spanning eight states, according to its website.
The company has been revamping the landmark Galleria Dallas since 2018, along with Arlington’s Lincoln Square Mall, which it acquired last fall. Montesi has proposed replacing a portion of the two malls with multifamily and office towers, a hotel and public amenities, saying there’s “too much retail in this country.”
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Trademark has gradually shifted to the multifamily realm through its mixed-use projects. Now the company is poised to fully immerse itself in the residential world.
“We have been considering rounding out our mixed-use development capabilities with multifamily for a while,” Montesi told the outlet in 2021. “We believe the most sustainable and attractive places to live, work, stay and spend leisure time will be walkable, amenitized places with multiple uses and a higher level of service.”
—Quinn Donoghue