Wood Partners Starts Construction on Alta West Davis

Wood Partners Starts Construction on Alta West Davis

DALLAS, TX - Wood Partners announced it has closed on the acquisition of a five-acre property in Southwest Dallas and will begin construction on Alta West Davis, a low-rise apartment community in the historical neighborhood of North Oak Cliff, in early January.

The 207-unit development at 1836 West Davis will include a pair of three-story buildings featuring studio, one- and two-bedroom apartment homes, ranging in size from 650 to 1,200 square feet.

Alta West Davis is located in North Oak Cliff, an older and established neighborhood where homes date from the early 20th century.

"Part of our site is in a historically designated district in the city and the architecture has to be sympathetic to the historical structures in the neighborhood. The neighborhood is predominantly craftsman or prairie style architecture and Alta West Davis is reflective of the historic nature of the neighborhood," said Todd McCulloch, a director at Wood Partners.

"A lot of history has been germinated in that part of town and it is experiencing a resurgence, with locally owned and operated retail shops and chef-driven restaurants replacing old auto shops and long vacant buildings. In addition to all the great things going on within walking distance in the neighborhood, we are centrally located five minutes from the center of Dallas, five minutes from Uptown and five minutes from the central business district."

Reflective of Woods Partners' commitment to building green, the company is pursuing LEED silver status for Alta West Davis. LEED (Leadership in Energy and Environmental Design) was developed by the U.S. Green Building Council in 2000 to provide a framework for certifying green building practices promoting sustainable building and development practices.

Obtaining LEED certification is a rigorous process that involves a commitment to sustainable building from design through construction and includes as-built performance tests. During the construction process each LEED strategy and measure is verified by a qualified third-party green rater.

"The fact that a top tier institutional developer like Wood Partners is willing to build the first 'market rate' multifamily development in Oak Cliff in several decades says a lot about the recent transformation of the community. We are excited about the project and believe it certainly validates the submarket," said Barry Hancock of Cienda Partners, the project's seller.

Alta West Davis will feature a state-of-the-art fitness center, resort pool and bike shop with storage. Selected units will include faux wood flooring and iPod docking stations with in-wall speakers.

Construction is expected to be complete by the first quarter of 2013. Wood Construction is the general contractor and Good, Fulton & Farrell are the architects.

"Alta West Davis will appeal to the rent-by-choice market. It's an urban infill lifestyle, but more authentic than the mass-produced product people will find in other areas. It's also reasonably priced at a discount of $500 to $1,000 a month below other infill neighborhoods," said McCulloch.

About Wood Partners Wood Partners is a national real estate company that acquires, develops, constructs and property manages high density and mixed-use communities. Through quality construction, responsible land development and intelligent design, our communities reflect the aesthetic and social fabric of the community and provide a luxurious living experience at a fair price. The company has been involved in the development of more than 36,000 homes with a combined value of more than $4.5 billion nationwide.

Source: Wood Partners / #Multifamily #Apartments

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