DALLAS, TX - Encore Multi-Family has commenced construction of Encore 6162, a four-story, 288-unit, 3.8-acre apartment development in Dallas' burgeoning Medical District.Groundbreaking occurred in December 2012, and first units are scheduled for delivery in February 2014, with final project completion slated for June 2014.
Encore Multi-Family is a subsidiary of Encore Enterprises, Inc., a full-service commercial real estate acquisition, development and management company focused on the hospitality, retail, office, and multifamily sectors.
Encore 6162 will be a departure from typical Dallas apartment product due to modern architectural elements found in higher-end condominium developments. These will include a porte cache and a unique blend of exterior materials which will include metal, wood, stone and brick components. In addition to high-end interior finishes; the development will feature a multi-level, resort-style swimming pool, an extraordinary fitness facility, and impressive community gathering areas. Encore 6162 will be competitively priced for the area with rents projected to range between $900 and $1,500 per month.
Brad Miller , President of Encore Multi-Family, praised the City of Dallas for their cooperation in the rezoning initiative and further stated, "It is a once-in-a-lifetime occurrence to develop apartments within two miles of $2.5 billion in current medical construction projects; the expansion of Parkland Hospital and UT Southwestern is expected to generate 15,000 new jobs over the next two years. That fact combined with the $500 million Love Field expansion has changed the dynamics of the former industrial neighborhood."
Encore 6162 is the ninth construction start for Encore Multi-Family during the past three years.
Construction financing is being provided by Whitney Bank, New Orleans.
Encore Multi-Family, LLC is a subsidiary of Encore Enterprises, Inc., and was founded in 2008 as a fully integrated multifamily developer, owner and operator. The company is involved in all aspects of multifamily development projects and acquisitions including ground-up developments, joint ventures and mixed-use turnkey developments.