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New Toll Brothers Division to Begin 21-Story High-Rise Near Uptown

271-Unit Tower Near The Mansion at Turtle Creek to Break Ground This Summer
April 5, 2018
Toll Brothers Apartment Living, a subsidiary of Toll Brothers Inc. (NYSE: TOL), plans to begin construction this summer on a new 21-story high-rise tower near Uptown.

The 271-unit complex will consist of 10 percent efficiencies, 60 percent one-bedroom apartments and 30 percent two-bedroom apartments, according to a source involved in the project.

This will be the Toll Brothers Apartment Living’s first high-rise development to get underway in Texas. The tower will replace 49 condominiums at 2700 and 2728 Welborn St., which sits blocks away from The Mansion at Turtle Creek.

McGregor Converse and Steve Church of Dallas-based Venture Commercial Real Estate represented Point Two Turtle Creek Condominium Association in the deal. Toll Brothers Apartment Living was self-represented in the recently closed deal.

Construction on the project is expected to take 18 to 24 months from groundbreaking, with the proposed height of the apartment tower to surpass plans proposed years ago on one of the development tracts.

Dallas-Fort Worth has nearly 40,000 apartment homes in the construction pipeline, which is the largest of any major metro in the United States. Analysts say as long as North Texas continues to add jobs to the region, new apartment developments -- like this one -- will continue to lease up by new residents.

Candace Carlisle, Dallas-Fort Worth Reporter  CoStar Group   
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