Andrew T. Carnahan, president of locally based Foresite Development Co., says the 30-unit Alix at 4107 Bowser Ave. and 30-unit Nikko at 4411 Bowser Ave. will deplete his land bank in Oak Lawn, where's he's built nearly $60 million of residential product. He has one development under way in the neighborhood, the 45-unit Haven at 4040 Hall St., which will be delivering in early summer.

"Land prices in Oak Lawn have skyrocketed. We've done pretty good redeveloping Oak Lawn. East Dallas hasn't quite gone through the same re-gentrification," Carnahan tells GlobeSt.com. "The prices are a little more reasonable." He has a 40,000-sf vacant tract under contract along Live Oak Street near Bryan Place, where he's planning to build a five-story building with 64 units, keeping to his trademark design with the ground floor reserved for parking. If the plan stays on track, the Live Oak project will come on line in winter 2008.

For four years, Carnahan's business focus has been creating boutique flats, primarily targeting young professionals in design and pricing. The Alix and Nikko were designed by the Dallas-based firms of Mayse & Associates Inc. and WDG Architecture Inc. KWA Construction LP, also from Dallas, is the general contractor for both developments. The projects, each estimated at $6 million, will deliver in first quarter 2008 on 24,000-sf tracts that once held the 1960s-era second and third phases of the Manhattan Apartments.