DALLAS, TX - Commodore Partners, a private equity firm owned by the Carl Westcott family, held a groundbreaking ceremony yesterday for The Mark at Midtown Park, a 274 unit luxury apartment community located on the east side of N. Central Expressway, just north of Meadow Road. A Ford dealership on the site was demolished in 2008 and the property was rezoned to allow multifamily in 2013.
The Mark is targeted at the North Dallas submarket, which has seen a renaissance in office and retail but relatively little multifamily activity. Swayze Smartt, President at Commodore Development LLC notes, "If you look at the rental product available in the area, most of it is over 20 years old. The Shops at Park Lane and Preston Hollow Village have shown there is strong demand for upscale shopping, dining, and entertainment in the North Central Expressway corridor. The Mark at Midtown Park is a natural next step."
The project will include one, two, and three bedroom floorplans featuring quartz countertops, stainless steel appliances, 9-foot ceilings, and steam showers. Property amenities include a resort-style pool with outdoor TV lounge, state-of-the-art fitness center, contemporary clubhouse, 24 hour package delivery lockers, dog wash station, and bark park.
The Mark will be managed by Lincoln Property Company, the nation's second largest multifamily manager, with over 50 years of experience in the industry. Mychelle Burns, Lincoln's Regional Marketing Director stated, "We are excited to be able offer a new product in North Dallas that has high end finishes and amenities that aren't available in existing properties in the area. We're confident that The Mark will offer a truly unique living experience for residents."
The Mark will open its doors to residents in early 2017.
Source: Commodore Partners / #Apartments #Multifamily