The apartment units will be constructed in phases, with the first 300 units set to break ground by the start of 2015, if not sooner. Exact details of the entire apartment plan have not been finalized yet.

Even before this project was announced, John Turner of locally-based Rochstreet Partners, told GlobeSt.com that the multifamily market in Dallas is extremely strong, having reached a fully-recovered pace for new starts. He says his company is closely watching the sector, seeing a lot of potential.

“I'm not at a point to say that we are anywhere near being overbuilt but I do think we are entering a stage in new development where I think you need to be a little more cautious about supply because there are a lot of deals in the pipeline and we are at that point in our cycle where you have to keep a very close eye on the supply pipeline and what the demand outlook looks like,” Turner tells GlobeSt.com.

This project fits into Mayor Mike Rawlings' GrowSouth plan, which has been a major push for the last two years. When first announced in 2012, the GrowSouth initiative was a $1 billion plan to both grow and develop the economy of South Dallas. The plan outlines 10 key points on how to do this, which includes strengthen and engage neighborhoods, debunk the myths and rebrand Southern Dallas, create a culture of cleans, implement West Dallas Design Plan, and develop the Lancaster Corridor.

As GlobeSt.com covered last year, Jones Lang LaSalle's Lance Taylor said the Trinity Groves area “will breathe life into West Dallas with a fresh mix of restaurants, retail, artistic and entertainment venues that will help local small businesses. In more than one way, it further Dallas' reputation as an entrepreneurial incubator.”

The Mayor and developers expect the Trinity Groves project to drive additional development in the area.

Trinity Groves is part is West Dallas Investments, which is made up of Phil Romano, Stuart Fitts and Butch McGregor.