The almost 1-acre site is on Ross Avenue between Lamar and Griffin streets.
The vacant property occupies most of the block next to DART’s West End transit hub on San Jacinto Street.
The tract just sold to an investment group led by Banyan Residential’s founder Ben Brosseau. With offices in California and Texas, Banyan Residential is building rental communities in Dallas, Houston and Scottsdale, Phoenix and Tempe, Ariz.“Ben, who is a Dallas native, is developing two sites along the Trinity River on Beckley Avenue,” said Scott Lake of property broker Davidson & Bogel Real Estate LLC.“We received several offers for the site,” Lake said.
A few blocks away on Beckley near Methodist Dallas Medical Center, the developer is also building another 279-unit rental community. Theapartments are being built in partnership with Indiana-based real estate firm Milhaus. The downtown property that just sold to the Banyan group is in an area of the central business district that’sThe site is just blocks away from the planned $1 billion Field Street District at the southwest corner of Woodall Rodgers Freeway. The 6-acre project is planned to start with an office and residential high-rises.
Dallas businessman and downtown property investor Tim Headington has also assembled several blocks in that area for future development.
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