Real Estate
Anthem Development confirms new project in Dallas
Anthem Development confirmed its news project in Garland called Lofts iThirty
Garland, Texas - Anthem Development, based in Dallas, has launched the first stage of an ambitious redevelopment project at the Lake Ray Hubbard station of Dallas Area Rapid Transit (DART), Dallas Metro News reported. The move aims to revitalize the urban area while being resilient to economic ups and downs.
The cornerstone of this new development is Lofts iThirty, a sizable 340-unit residential building located close to the transit station.
The property, initially set aside for a Sam's Club store by retail giant Wal-Mart, has instead been acquired by Anthem Development, which already has operations in a nearby location.
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“We were able to close on this project during a period of volatility in the economy and capital markets where other groups are having difficulty getting their projects financed, especially development deals,” said Will McNutt, president of Anthem, in a press release shared with Multifamily Dive.
The project's blueprint has been recognized for its urban planning and architectural excellence, receiving the Urban Design Gold award from the American Planners Association. This esteemed award honors projects that significantly enhance a community's overall character, creating a lasting "sense of place."
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Once completed, the project aims to do more than just revitalize the Lake Ray Hubbard station. It also plans to market and renovate two adjacent properties intended for retail and hospitality uses.
The Lofts iThirty residential complex is planned as a series of five four-story buildings, featuring a wide array of amenities. Future residents can look forward to two swimming pools, a specialized pet-care facility, a recreational park, a gaming nook, a coffee bar for enthusiasts, a high-level remote work lounge with sweeping views, outdoor cooking areas, elevators for easy vertical movement, and two cutting-edge fitness centers with a combined area exceeding 3,500 square feet.
Location-wise, Lofts iThirty boasts a prime spot. It's close to the picturesque Duck Creek Trail and provides quick access to Interstate 30, putting residents just a 15-minute drive away from downtown Dallas. The first phase of the residential complex is set to be completed and unveiled to the public in the last quarter of 2024.
Credit: Dallas Metro News, Multifamily Dive
