Trammel Crow Company and Northwestern Mutual Announce Mixed-Use Project on McKinney Avenue
DALLAS, TX, December 15, 2014 /PRNewswire/ -- Knox Heights Will Feature Luxury Rentals, Retail and Restaurants Just North of the Popular Knox Street Corridor.
High Street Residential, the residential subsidiary of Trammel Crow Company, in partnership with Northwestern Mutual Real Estate has finalized plans to build Knox Heights, a Class A, six-story mixed-use project featuring 182 luxury residential units and ground floor retail and restaurants along McKinney Avenue just north of Knox Street. Construction is scheduled to commence in 2015.
"We are thrilled with the outcome of a very complex land assemblage and entitlement process," said Joel Behrens, Senior Vice President of Trammell Crow Company's Dallas-Fort Worth Business Unit. "The support received from the City of Dallas and the Oak Lawn Committee was crucial in realizing this opportunity. "Knox Heights will replace five aging buildings with shops, restaurants and apartments that will add to the walkability and vibrancy of the neighborhood."
Sitting on 1.3 acres, Knox Heights will feature 14, 500 square feet of ground floor retail, a 2,400 square foot fitness facility and lounge, a 4,500 square foot amenity deck and pool overlooking McKinney Avenue, and a three-level subterranean parking garage. The development team will design the project with sustainable components and seek national green certification.
"We are very pleased with our partnership with Trammell Crow Company," said Dan Soyka, Director with Northwestern Mutual. "Knox Heights will be a boost to an under-utilized portion of McKinney Avenue just north of the booming intersection at Knox Street."
About Trammell Crow Company
Trammell Crow Company, founded in 1948, is one of the nation's leading developers and investors in commercial real estate. The company has developed or acquired nearly 2,600 buildings valued at nearly $60 billion and over 540 million square feet. As of September 30, 2014, Trammell Crow Company had $5.1 billion of projects in process and 2.9 billion in its pipeline.
Trammell Crow Company's teams are dedicated to building value for its clients with professionals in 16 major cities throughout the United States. The company serves users of and investors in office, industrial, retail, healthcare, multi-acquisition of facilities tailored to meet its clients' needs. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development, or providing incentive-based fee development services.
Trammell Crow Company is an independently operated subsidiary of CBRE Group, Inc. (NYSE: CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services and investment firm (in terms of 2013 revenue). For more information visit www.TrammellCrow.com.
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 of repurposing of existing facilities. Since 2000, the Company has completed 6,125 unites in over $1.5 billion in value with a current pipeline of more than 2,100 units valued at $540 million.