A Dallas developer teaming up with an investment fund is floating plans for a 30-story mixed-use tower on McKinney Avenue in Uptown, a move that could stack apartments, offices and street-level retail onto one of the city’s busiest stretches. The early concept also leans into mixed-income housing, a notable twist in a neighborhood better known for luxury condos and trophy office space.
According to the Dallas Business Journal, the development team has released a Gensler rendering along with a conceptual plan that pegs the project at roughly 30 stories. The report notes that the partnership between the Dallas developer and the investment fund envisions a single tower that mixes uses and income levels under one roof.
Where It Would Fit In Uptown
The proposed building would rise along McKinney Avenue in Uptown, a corridor that has already drawn a steady run of sizable projects in recent years. Trammell Crow Co. has its Knox & McKinney office project under way nearby, and other trophy towers such as Parkside are helping reshape demand for office, retail and residential space in the area. Those bigger plays are also rewriting the neighborhood’s leasing dynamics, with changing Uptown’s profile emerging as a key storyline.
What Mixed-Income Would Mean
Early materials from the developers indicate the new tower would combine income-restricted and market-rate homes, although reporting so far has not detailed how many units that would involve or which income bands would qualify for restrictions. Other recent Uptown proposals have also tried to weave in some below-market apartments during the approval process. An Endeavor Real Estate Group plan for McKinney and Boll, for example, publicly set aside a portion of its apartments for households earning below the area median income, according to Endeavor Real Estate Group. Supporters of mixed-income projects argue that such arrangements help workers who staff nearby businesses stay close to their jobs, while critics often focus on how small the affordable slice usually is compared with the overall unit count…