DALLAS, TX - StreetLights Residential and Stonelake Capital Partners announced today at the Focus On The Future luncheon sponsored by the West Dallas Chamber of Commerce and West Dallas Foundation their plans for Class-A apartment homes located at 1000 Singleton Blvd near the southwest corner of Singleton Boulevard and Sylvan Avenue. The new residential development will be the first phase of Trinity Village, a 25-acre urban residential district to be developed by Stonelake in West Dallas. Trinity Village is within walking distance to the newly revitalized Trinity Groves which includes restaurants, retail and entertainment venues. The Trinity Village property is currently used for industrial purposes, primarily for trailer and 18-wheeler parking and repair.
“Streetlights is proud to announce our first apartment development in West Dallas and we are excited to invest in this dynamic neighborhood,” said Streetlights CEO Doug Chesnut. “The goal of Trinity Village is to create great streets and sidewalks with lighting and street trees designed so that people feel safe, in addition to a linear urban park where neighbors will want to be outside and interact. As with all projects, we are taking into account the needs and aesthetic of the neighborhood.”
Kenneth Aboussie, Managing Partner of Stonelake added, “We are excited to invest in the West Dallas neighborhood. Trinity Village will be an urban residential district with a mixture of apartment homes and single-family homes where residents will have the ability to walk to retail and entertainment venues and easily access major employment centers in Uptown, Downtown & the Medical Center via the newly constructed Margaret Hunt Hill and Sylvan Avenue Bridges. We are excited to revitalize this decades old industrial property into a vibrant district where people will want to live by creating a sense of place that is respectful to the heritage of West Dallas.”
The first phase of Trinity Village will be comprised of approximately 300 apartment homes and is expected to deliver first units in Summer 2016.
About StreetLights Residential
StreetLights Residential specializes in high-end, new urbanist apartment homes and mixed-use developments. StreetLights Residential was started by several of the senior investment officers from Gables Residential. Today we have over 70 employees in our development and construction companies with over $890 million in our pipeline with offices in Dallas, Austin, Houston and San Diego.
About Stonelake Capital Partners
Stonelake Capital Partners is a private real estate investment management firm with 20 employees and offices in Dallas, Austin and Houston. Stonelake develops and owns investments in multifamily, office, industrial, and retail properties. Stonelake owns over $1 billion of commercial real estate throughout Texas and manages institutional capital through a series of private equity investment partnerships. Stonelake was founded in 2007 by Kenneth Aboussie and John Kiltz.