DALLAS – Wood Partners has broken ground onAlta Farmers Market, a 313-unit apartment community on 4.7 acres near the Dallas Farmers Market in downtown Dallas.
“We broke ground on Farmers Market just over a month ago and are making great progress,” said Wood Partners development associate Ryan Miller. “With the revitalization of the Dallas Farmers Market next door and a resurgence in Deep Ellum, our residents will have great access to restaurants and entertainment in the area all while being in close proximity to the downtown office market.”
Plans for Alta Farmers Market, on Cesar Chavez Boulevard near Taylor Street, call for a four-story, 262,000-square-foot building with a structured parking garage. The building, designed by Good, Fulton & Farrell, will house one, two, and three bedroom units.
Wood Partners expects construction to be completed in late 2015 and apartments to be available for lease in the second quarter of 2015.
Centrally located with easy access to employers, shopping and recreation, Alta Farmers Market is close to the Dallas CBD and Baylor Hospital with Uptown and Klyde Warren Park nearby.
According to the National Association of Home Builders’ formula to determine the local impact of multifamily housing in typical metro areas, adding 313 rental apartments will generate $23.7 million in local income, $2.5 million in taxes and other revenue for local governments, and 109 local jobs.
Wood Partners, one of Dallas’s busiest developers, is also building on Maple Avenue near the Medical District, West Commerce in Trinity Groves, and at Coit and 190 in Plano. The developer is also involved in the Sylvan Thirty project at Sylvan and I-30.