Developer Airs Plans for Three More Projects

DALLAS-A boutique townhouse developer, who’s been part of the Oak Lawn redevelopment push for 10 years, is awaiting permits for two more projects so ground can break in May. A third development site is under contract in East Dallas.

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.