DALLAS—High Street Residential, the residential subsidiary of Trammell Crow Co. (TCC), in partnership with Principal Real Estate Investors has broken ground on M-Line Tower, a new 20-story, 262-unit, luxury residential tower located at 3200 McKinney Ave.
The tower will also include ground floor retail anchored by a new 5,548-square-foot Café Express and a new McKinney Avenue Transit Authority (MATA) trolley barn and executive office.
"Located in the heart of Uptown, with over 250 feet of frontage on McKinney Avenue, M-Line Tower aligns with our strategy of building on best-in-class sites," Joel Behrens, principal of TCC's Dallas-Fort Worth business unit and MATA board member. "We are thrilled to be under construction on this exciting class A development and look forward to delivering another great project with our partner, Principal Real Estate Investors."
Sitting on 1.28 acres at the corner of McKinney Avenue and Bowen Street, M-Line Tower will feature one and two bedroom luxury rental units. Resident amenities include a resort style pool, two-story fitness center, outdoor living space, clubroom, business center, and a rooftop sky lounge with unobstructed views of downtown, Uptown and Turtle Creek.
The southeast corner of the project's ground floor will provide a new trolley barn and executive offices for the highly respected M-Line trolley, which offers the City's visitors and commuters air conditioned public transportation free of charge from West Village to the Arts District down McKinney Avenue in restored, vintage trolleys. High Street Residential and PrinREI will be providing MATA with an allowance for a seventh trolley car, 1,730 square feet of space, a build-out allowance for its new space, and new trolley tracks and switch along Bowen Street.
"Principal Real Estate Investors is excited about delivering yet another first-class development to the dynamic Uptown submarket. M-Line Tower will offer residents unparalleled access to many amenities." says Alex Mather, investment director of asset management. "This development represents our continued long-term partnership with the Trammell Crow Co. across the US."
"Since 1996, our McKinney Avenue restaurant has been serving guests flavorful meals made from the freshest ingredients," says John Attra, FMP executive vice president and chief operating officer of Café Express. "We plan to reopen to the public at M-Line Tower in 2017. Until then, we have two other Dallas locations at Mockingbird Station and Lovers Lane. We look forward to the new development taking shape and can't wait to serve all our wonderful guests in the future."
Construction financing was provided by U.S. Bank. Andres Construction Services LLC is serving as the project's general contractor.
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