Search
 

High Street, USAA Digging Into $25M-Plus TOD

GARLAND, TX-In a merchant-build plan, High Street and USAA are going vertical on 5th Street Crossing, an infill plan for 189 apartments, 20,000 sf of retail and parking garage.

By Connie Gore | Updated on June 02, 2008

GARLAND, TX-With site work and infrastructure now done, High Street Residential and USAA Real Estate Co. are starting vertical work for a transit-oriented development to add 189 apartments and 20,000 sf of retail to the historic downtown. The project, estimated at $25 million to $30 million, will start to deliver in spring 2009.

The 5th Street Crossing project will be set on 2.5 blocks along 5th and 6th streets, right on the doorstep of the Dallas Area Rapid Transit’s Garland Station. The five-acre project will have three residential buildings, two of which will street-level storefronts, and a 400-space parking garage. CB Richard Ellis’ Dallas team is preleasing the retail while locally based Lincoln Property Co.’s third-party management group will oversee the finished apartment complex.

“This is a catalyst project that the city hopes will spawn a lot more development in the Downtown, whether it’s us or others,” says Arthur Lomenick, managing director of Dallas-based Trammell Crow. Co. and president of wholly owned subsidiary High Street Residential. “Garland has never been a suburb of Dallas. It’s a city and its own place. It’s got a lot of character and history.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.