Dallas Urban Core Drives 2015 Apartment Boom Adding 5300 Units

Dallas has consistently stood out as a beacon of economic growth and urban development, attracting an influx of residents drawn to its robust job market and vibrant lifestyle. This surge in population naturally fuels an intense demand for housing, particularly within the bustling rental sector. In 2015, the multifamily housing market in Dallas experienced a significant boom, with developers delivering an impressive 19 new apartment developments. This translated to over 5,300 brand-new rental units hitting the market, a testament to the city’s dynamic growth. While this might seem like a substantial number, it followed an even more prolific year in 2014, when 20 new apartment communities added more than 6,000 units to the city’s housing inventory, according to the latest figures from RentCafe.

The continuous question arises: who is occupying this vast new supply of apartments? The answer lies in the compelling narrative of North Texas. The region’s thriving job market acts as a powerful magnet, drawing professionals and families from across the country. Simultaneously, the single-family housing market in Dallas has been red-hot, characterized by soaring prices and limited inventory, pushing many prospective homeowners towards the rental market. This rapid expansion, while a sign of prosperity, also brings its share of growing pains. The increased demand inevitably leads to upward pressure on rental rates. Data from Apartment List confirmed this trend, revealing that median rents in Dallas were on a steady climb. In 2015, a one-bedroom apartment commanded a median price of $1,260 per month, while a two-bedroom unit averaged $1,600 monthly. These figures represented a striking 4.9 percent year-over-year increase for similar properties, a significant jump that undoubtedly prompted many residents to exclaim:

Amidst this flurry of construction and rising costs, it’s essential to identify the key players that significantly shaped the Dallas rental landscape in 2015. Using comprehensive data from its Yardi Matrix platform, RentCafe compiled a list of the largest apartment developments delivered that year. Topping this prestigious list was Elan City Lights, a colossal project that introduced 424 new units to the market. Strategically positioned on Live Oak, directly opposite the culturally rich Latino Cultural Center and just a short stroll from the Good Latimer DART Rail Station in Deep Ellum, Elan City Lights boasted an enviable location. This prime spot, at the intersection of Cantegral and Live Oak, offers residents unparalleled access to mass transit, the vibrant arts and entertainment scene of Deep Ellum, and all the diverse attractions of downtown Dallas.

The trend towards increased density within downtown Dallas and its adjacent neighborhoods became increasingly evident in 2015, with a substantial portion of the new housing supply comprising rental units. In fact, over half of RentCafe’s top 10 largest apartment developments for that year were situated squarely within the Dallas urban core. This shift reflects a broader urban planning philosophy, prioritizing walkable communities and easy access to employment centers and amenities. A particularly interesting development was the inclusion of an office conversion project among the top 10 largest new apartment developments. This innovative approach to repurposing existing commercial real estate into residential units offers a sustainable solution to urban housing demand while breathing new life into older structures. As Dallas continues its trajectory of growth, understanding these pivotal developments provides invaluable insight into the city’s evolving residential fabric and the options available to its growing population.

Discover the Top 10 Largest Apartment Developments of 2015 in Dallas:

10. One Dallas Center: 276 Rental Units

Completed: April 17, 2015

Address: 350 North St. Paul Street, Dallas, TX 75201
Rental Types: One Dallas Center, a remarkable example of urban revitalization through office conversion, offers a diverse mix of 230 one-bedroom apartments, 30 two-bedroom apartments, and 16 spacious three-bedroom apartments, catering to various living needs.
Property Size: This impressive green building spans 228,280 sq.ft. of residential space, occupying 16 stories built above 14 floors (266,000 sq.ft.) of prime office space.
Description: As a LEED-Certified Platinum green building, formerly known as Patriot Tower, One Dallas Center sets a high standard for sustainable urban living. Residents benefit from 1,656 parking spaces, with covered parking available for an additional $85/month. The building boasts a resort-style pool complete with cabanas, an exclusive resident bar and lounge, and a breathtaking 30th-floor sky lounge offering panoramic city views. Fitness enthusiasts will appreciate the expansive 5,000 sq.ft. fitness center. Additional amenities include an outdoor grilling area, an on-site bark park for pets, a massage room, and a conference center. Interiors feature elegant wood flooring throughout living rooms and kitchens, practical pocket doors, stylish accent walls, and cutting-edge Sonos surround sound systems, providing a truly luxurious downtown living experience.

9. VV&M Boutique Residential Living: 310 Rental Units

Completed: March 27, 2015

Address: 5225 Verde Valley Lane, Dallas, TX 75254
Rental Types: VV&M offers a diverse apartment selection, including 48 one-bedroom/alcove apartments, 138 traditional one-bedroom units, 118 two-bedroom apartments, and 18 three-bedroom apartments, designed to meet a variety of preferences.
Property Size: This charming development spans 284,998 sq.ft., comprising five distinct 4-story buildings, with the first floor of each dedicated to convenient parking.
Description: With 620 parking spaces available (covered parking at +$35/month, detached garages at +$100/month), residents at VV&M enjoy ample parking solutions. The community is designed for sophisticated leisure, featuring an expansive pool deck with private cabanas, a cozy fireplace, and an outdoor grilling kitchen. The resort-style pool includes in-water private cabanas and a wet tanning lounge, creating a luxurious oasis. For professionals, a business lounge equipped with iMac computers provides a modern workspace. This pet-friendly community also boasts a private dog park. A media lounge offers entertainment, while the prime walkable location ensures easy access to nearby dining, nightlife, entertainment, and shopping. Each unit is thoughtfully equipped with a high-efficiency washer and dryer. Residents can choose from two designer interior schemes, featuring either elegant granite or sophisticated quartz countertops paired with stylish tile backsplashes, offering a customizable and upscale living experience.

8. Aura Prestonwood: 322 Rental Units

Completed: October 5, 2015

Address: 5519 Arapaho Road, Dallas, TX 75248
Rental Types: Aura Prestonwood offers a blend of 252 well-appointed one-bedroom apartments and 70 comfortable two-bedroom apartments, catering to singles and small families alike.
Property Size: This thoughtfully designed community encompasses 267,155 sq.ft. of residential space.
Description: Residents benefit from 515 parking spaces. Interiors boast wood-style plank flooring in living areas, custom carpeting in bedrooms for added comfort, and ceramic tile in all bathrooms for a touch of elegance. Kitchens are equipped with energy-efficient Whirlpool stainless steel appliances, combining functionality with modern aesthetics. The community encourages an active lifestyle with a comprehensive fitness center featuring a cardio arena and free weights. Outdoor amenities include a beautifully landscaped courtyard with private nooks, a fire pit perfect for social gatherings, and a grilling area. A refreshing swimming pool provides a perfect escape. Aura Prestonwood is a pet-friendly community, offering a dedicated dog park and a convenient dog-washing station, ensuring all residents and their furry companions feel at home.

7. SkyHouse Dallas: 336 Rental Units

Address: 2320 North Houston Street, Dallas, TX 75219
Rental Types: SkyHouse Dallas offers a diverse range of urban living options, including 80 studios, 166 one-bedroom apartments, 72 two-bedroom apartments, and 18 three-bedroom apartments, all designed for modern city dwellers.
Property Size: This iconic development encompasses 263,333 sq.ft. within its 21- and 23-story buildings, which also feature over 4,970 square feet of convenient ground-floor retail space.
Description: With 450 parking spaces, SkyHouse Dallas provides ample parking in its amazing Uptown Dallas location. Residents are treated to a spectacular rooftop pool that offers sweeping downtown views, creating an unparalleled urban oasis. The fitness amenities are robust, including separate yoga and spin rooms. Concierge services are readily available to cater to residents’ needs. Interiors are thoughtfully designed with hardwood flooring in the kitchen, living, and dining rooms, complemented by floor-to-ceiling windows that are equipped with upgraded solar shades. Kitchens boast elegant granite countertops with subway tile backsplashes and sophisticated Espresso-finished cabinets, embodying a blend of luxury and contemporary style perfect for the vibrant Uptown lifestyle.

6. Locale: 348 Rental Units

Completed: July 15, 2015

Address: 3301 Hudnall Street, Dallas, TX 75235
Rental Types: Locale offers a comfortable mix of 15 studios, 240 one-bedroom apartments, and 93 two-bedroom apartments, providing flexible living solutions in a desirable Dallas location.
Property Size: Spanning 298,843 sq.ft., Locale is composed of nine inviting 3-story buildings, with convenient parking facilities integrated into the first floor of each.
Description: With 697 parking spaces, including covered parking for +$35/month and detached garages for +$125/month, Locale ensures ample parking options. The community offers exceptional amenities designed for both relaxation and productivity: an entertainment lounge featuring a Wi-Fi café, serving bar, and TV gallery; a dedicated business center; and a wellness center equipped with highly-specialized Technogym cardio machines. Outdoor living is enhanced by a resort-style swimming pool with expansive tanning areas, a community pet park, and grilling areas outfitted with premium outdoor cooking equipment. Inside, residents enjoy expansive 10′ ceilings and the added security of pre-wired intrusion alarms, creating a secure and comfortable living environment.

5. Northrock Lake Highlands: 362 Rental Units

Completed: June 30, 2015

Address: 6808 Skillman Street, Dallas, TX 75231
Rental Types: Northrock Lake Highlands presents a comprehensive selection of 216 one-bedroom apartments, 119 two-bedroom apartments, and 27 three-bedroom apartments, including options for affordable housing.
Property Size: This LEED-Certified green building spans 302,148 sq.ft. across nine 3-story buildings, with parking conveniently located on the first floor of each.
Description: As a LEED-Certified green building, Northrock Lake Highlands demonstrates a commitment to sustainability. Notably, 557 sq.ft. units are reserved for low-income housing, with 38 affordable units, ensuring diverse housing options. The community provides 760 parking spaces. Residents can enjoy outdoor grilling stations, a fully equipped fitness center, and a refreshing swimming pool. A dedicated dog park caters to pet owners, while a 24-hour business center and a clubhouse enhance community living. Interiors feature Whirlpool Energy Star stainless steel appliances, elegant wood-style plank floors, granite countertops, and stylish glass tile backsplashes, offering a modern and comfortable home environment.

4. Olympus at Ross: 368 Rental Units

Completed: June 9, 2015

Address: 3501 Ross Avenue, Dallas, TX 75204
Rental Types: Olympus at Ross offers a variety of sophisticated living spaces, comprising 35 studios, 222 one-bedroom apartments, and 111 two-bedroom apartments, appealing to a broad range of urban residents.
Property Size: This modern 5-story building encompasses 303,645 sq.ft., providing ample space for its extensive amenities.
Description: As a smoke-free community, Olympus at Ross prioritizes health and comfort. It features a stunning pool plaza with outdoor grilling stations, perfect for entertaining. Environmentally conscious residents will appreciate the electric vehicle charging station. The wellness studio is equipped with cross-fit inspired equipment, along with dedicated yoga and spin rooms for comprehensive fitness. Creative pursuits can be explored in the art room, while the social lounge provides a comfortable space for relaxation and community interaction. With 736 parking spaces, parking is convenient. Each unit boasts impressive 10 Ft. ceilings, elegant quartz counters complemented by contemporary glass tile backsplashes, and keyless entry for enhanced security. The sleek stainless steel appliance package completes a truly modern and luxurious living experience.

3. Alexan Fairmount: 368 Rental Units

Completed: September 22, 2015

Address: 4210 Fairmount Street, Dallas, TX 75219
Rental Types: Alexan Fairmount offers a well-rounded selection of living options, including 29 efficient apartments, 227 comfortable one-bedroom apartments, and 112 spacious two-bedroom apartments, designed for modern urban living.
Property Size: This elegant 5-story building provides 306,700 sq.ft. of refined residential space.
Description: Featuring 700 parking spaces, Alexan Fairmount combines convenience with luxury. Residents can indulge in the serene pool plaza and fireside lounge, perfect for relaxation and socializing. Fitness enthusiasts will appreciate the dedicated yoga and spin room, alongside a comprehensive wellness studio equipped with CrossFit-inspired gear. For eco-conscious residents, an electric vehicle charging station is available. Additional amenities include a tanning studio and a tranquil relaxation garden, offering diverse options for personal care and unwinding. Each unit ensures enhanced security with keyless entry. Interiors are appointed with sophisticated granite counters and stylish glass-tile backsplashes, complemented by elegant cabinetry with glass panels, all contributing to an upscale and comfortable living environment.

2. 3700M: 381 Rental Units

Completed: January 30, 2015

Address: 3700 McKinney Avenue, Dallas, TX 75204
Rental Types: 3700M offers a luxurious array of residential options, including 2 guest suites, 44 one-bedroom/alcove apartments, 251 traditional one-bedroom apartments, and 84 two-bedroom apartments, all designed for discerning residents.
Property Size: This impressive development features 340,864 sq.ft. across three buildings ranging from 4 to 20 stories, incorporating over 37,000 sq.ft. of dynamic ground-floor retail space.
Description: As a Green building aiming for LEED-Proposed Certified Silver status, 3700M exemplifies sustainable luxury. It provides 836 parking spaces and a host of premium amenities. The business center includes two private conference rooms, ideal for remote work or meetings. Residents can relax in the fireside living room and intimate conversation alcoves. A full-service concierge enhances the living experience. Fitness and wellness are prioritized with a dedicated yoga studio and world-renowned TechnoGym® equipment. The skyline cabana lounge offers breathtaking, unobstructed views of the Dallas skyline. Each unit is equipped with a stacked washer/dryer, dual-pane glass for energy efficiency and sound insulation, and elegant hardwood floors, creating a sophisticated and comfortable urban sanctuary.

1. Elan City Lights: 424 Rental Units

Completed: January 9, 2015

Address: 2627 Live Oak Street, Dallas, TX 75204
Rental Types: Elan City Lights offers a diverse selection of living spaces, including 19 studios, 15 one-bedroom alcove apartments, 300 traditional one-bedroom apartments, and 90 two-bedroom apartments, designed to cater to various resident needs.
Property Size: This expansive 5-story building encompasses 320,737 sq.ft., making it the largest development delivered in Dallas in 2015.
Description: With 525 parking spaces, Elan City Lights combines convenience with an array of premium amenities. Every unit is equipped with a full-size washer & dryer, and many offer stunning Dallas city views from private patios or balconies. For professionals, a dedicated business center & conference room provides ideal workspace. Outdoor living is enhanced by grilling stations featuring built-in sinks & fridges, perfect for entertaining. Residents can maintain an active lifestyle at the 24-hour fitness center, or unwind with an aqua massage for relaxation and wellness. Wi-Fi is available in all common areas, ensuring seamless connectivity throughout the community, creating a highly desirable urban living experience in the heart of Dallas.