### Developers Switch Out of Audubon Apartment Project
Medistar is out, and **Dhanani Private Equity Group** is in when it comes to developing a multifamily project in Audubon. According to the *Dallas Business Journal*, Dhanani acquired approximately 12 acres along Audubon Parkway, near the Audubon Park neighborhood, from Medistar last August. The firm is now set to begin work on the *Territory at Audubon at Magnolia*.
Dhanani is currently securing the necessary permits and anticipates breaking ground within the next three months. The project is expected to be fully completed within 18 months.
The company has retained architecture firm Cobalt Office to continue the design work.
The development will consist of a 300-unit complex featuring one-, two-, and three-bedroom apartments, averaging 953 square feet, across nine three-story buildings. Additionally, an 8,000-square-foot clubhouse will offer multiple lounges. Rental pricing is expected to be around $2 per square foot.
Planned amenities include:
– A two-level pool with a connecting waterfall
– Outdoor yoga space
– Fitness center
– Dog park
– Barbecue grills
– Bike repair area
– Electric vehicle chargers
– Garage parking
With construction on the horizon, the Territory at Audubon at Magnolia is poised to bring contemporary living to the neighborhood.
