High Street Residential, in partnership with Principal Real Estate Investors, announces that M-Line Tower has officially topped out. The 20 story, 261-unit Class A mixed-use project features 11,636 square feet of ground floor restaurant space featuring Cafe Express and Blue Sushi Sake Grill and sits on the corner of McKinney Avenue and Bowen Street. Pre-leasing of the apartment homes begins in April 2017 with the first units available for occupancy in July. Construction is scheduled to complete in Q4 2017.
“We are thrilled with the progress we have made on M-Line Tower and what the delivery of the project will mean to the neighborhood,” said Joel Behrens, Principal of High Street Residential’s Dallas-Fort Worth Business Unit. “With unparalleled views, access to luxury amenities, and the walkable neighborhood, M-Line Tower is designed to encourage interaction between residents and Uptown.”
Sitting on 1.28 acres, M-Line Tower features 1-and-2-bedroom luxury rental homes, a resort style pool with sundeck and views of the Dallas skyline, multi-level fitness and wellness center, outdoor living space, poolside entertainment lounge, professional business and conference center with personal study rooms, and a resident rooftop sky lounge with unobstructed views of the downtown Dallas skyline, Uptown and Turtle Creek. The development team has designed the project’s southeast ground floor corner for a new trolley barn, museum and executive offices for the M-Line trolley. Additionally, High Street Residential and PrinREI are providing the McKinney Avenue Transit Authority with an allowance for a seventh trolley car, 1,730 square feet for the trolley barn, museum and executive offices, a build-out allowance for its new space, and new trolley tracks including a switch along Bowen Street.
Principal Real Estate Investors manages or sub-advises $72.2 billion in commercial real estate assets. The firm’s real estate capabilities include both public and private equity and debt investment alternatives. Principal Real Estate Investors is the dedicated real estate group of Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group.
About High Street Residential
High Street Residential, a wholly-owned operating subsidiary of Trammell Crow Company, specializes in the development of multifamily housing. We have a deep background in urban, infill mixed-use residential development, as well as the redevelopment or repurposing of existing facilities. Over the past decade, the Company has completed 5,000 units in over $1.2 billion in value with a current pipeline of nearly 3,000 units valued at approximately $1 billion.