DALLAS – (Realty News Report) – Pollack Shores Real Estate Group, a multifamily developer and investment firm, has purchased the parcel at 4302 Ross Avenue in Old East Dallas and will develop a new multifamily community on the site.
This acquisition continues the company’s Texas expansion, which began several years ago with purchases of existing properties in Dallas and Austin. While Pollack Shores has not announced any plans for Houston, the market there remains active, with nearly 20,000 units reportedly under construction.
Construction will begin later this month on a site that was formerly an auto dealership and sits less than a mile from downtown Dallas. The parcel is the largest remaining development site along one of the city’s fastest-growing corridors.
The firm cited Old East Dallas’s recent renaissance and the redevelopment along Ross Avenue as key factors in its decision. That transformation has drawn popular local businesses, including coffee shops and restaurants, and has become attractive to young professionals seeking walkable, amenity-rich neighborhoods.
“Our company focuses on creating communities that connect residents with vibrant neighborhoods that have strong existing amenities like Ross Avenue,” said Steven Shores, President and CEO of Pollack Shores. “We believe this connection creates authentic experiences which offer a higher quality of life for our future residents.”
The planned project will be a four-story building with 240 units, offering studio, one- and two-bedroom floor plans ranging from approximately 500 to 1,400 square feet. The community is scheduled to open in early 2021.
July 19, 2019 Realty News Report Copyright 2019
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