Sycamore Development Partners and Stratega Capital are advancing plans for a new mixed-income multifamily tower in Uptown Dallas, proposing a 398-unit community on a surface parking lot at the intersection of McKinney Avenue and Hall Street. The development team aims to complete the municipal approval process by the end of the year, positioning the project to move from planning into the next phase of execution once city review is finalized.
The plan calls for a 30-story high-rise that would introduce both housing and street-level commercial space to a prominent corridor in Uptown Dallas. According to reporting cited from The Dallas Business Journal, the project is envisioned as a mixed-use development, with new retail and restaurant offerings on the ground floor designed to activate the streetscape while residential uses occupy the upper floors. In total, 28 stories of the building are slated for mixed-income housing.
The residential program is structured to provide a blend of market-rate and income-restricted units. Of the 398 planned apartments, 273 are expected to be market-rate and 125 are designated as affordable units. The unit mix will span studios as well as one-, two-, and three-bedroom layouts, reflecting a range of household sizes. The affordable homes are intended for residents earning 80% of the area median income, integrating income-restricted housing into an established urban neighborhood.
The proposed investment to deliver the project is estimated between $250 million and $300 million, reflecting the cost of developing a high-rise, mixed-use tower with both residential and ground-floor commercial components. While specific financing details were not disclosed, the cost range underscores the scale of the planned project and its potential to represent a meaningful addition to the Uptown Dallas multifamily pipeline.
Project completion is currently anticipated in 2029, indicating a multi-year timeline that includes entitlement, construction, and lease-up. The schedule aligns with the complexity of high-rise delivery in a core urban submarket and the integration of both market-rate and income-restricted units within a single development. Once delivered, the property is expected to contribute additional housing options and new neighborhood-serving retail and dining space in Uptown Dallas.
Gensler has been named as the architect for the tower, bringing a global design firm to the project team. The selection of a well-known architecture practice signals an emphasis on design quality and functionality for both the residential component and the ground-floor commercial space. Further details regarding ownership structure, financing sources, and future retail tenants were not provided in the initial project overview.
