Dallas-based Larkspur Capital Partners is planning to build a seven-story, 190-unit apartment community with an estimated price tag of $34 million on the eastern edge of the Deep Ellum district, according to documents submitted to the state.
Construction on the The Willow apartments will start Jan. 11 with a targeted completion date of Jan. 9, 2023, documents submitted to the Texas Department of Licensing and Regulation show.
The 300,000-square-foot project will have 190 Uptown units, amenity space and a parking garage, the TDLR documents say.
The multifamily development at Commerce and Willow streets will have “context-sensitive architecture,” live-work units along Commerce, an amenity deck with views of downtown Dallas, and abundant co-working space, according to a description on Larkspur’s web site.
The project abuts the Dallas Area Rapid Transit Green Line and the Santa Fe Trail.
It’s Larkspur’s second Qualified Opportunity Zone investment, the company’s website says. Opportunity Zones are designed to encourage long-term investment in lower-income or otherwise disadvantaged neighborhoods. The program establishes tax incentives to spur private-sector investment.
The Willow is designed by Dallas architect Omniplan and uses the same brick found on historic buildings in the Deep Ellum neighborhood.
Larkspur Capital Partners is also building a five-story apartment community at 1100 N. Zang Blvd. near Lake Cliff Park. The project, also designed by Omniplan, will have 71 units.
The developer is also renovating the former Faulkner Tower office building on Gaston Avenue in Lakewood.