Hines, a leading real estate development company, has recently announced plans to potentially construct a 500,000-square-foot apartment building at 2371 Victory Avenue in Texas. If the project moves forward as planned, construction is set to begin in July of 2024 and is expected to be completed by the end of 2026 with an estimated cost of $150 million.
According to sources from the Dallas Business Journal, Hines has declined comment on their intentions at this early stage. The proposed site for this new residential tower is currently occupied by a parking lot adjacent to Hines’ One Victory Park office tower – which stands tall at seventeen stories – and just steps away from their recently opened Victor apartment tower featuring thirty-nine stories and three hundred forty-four units.
This new development will replace previous plans for another major project on the same site that was initially proposed back in 2014: a twenty-three story office building offering four hundred seventy thousand square feet of commercial space. With its prime location and impressive portfolio already established within Dallas’ real estate market, it’s no surprise that Hines continues exploring opportunities for growth within this thriving city.
