Mill Creek Residential, a leading multifamily investor and operator specializing in premier apartment communities across the U.S., today announced the start of construction on Modera Howell, an upscale apartment community in the dynamic Uptown neighborhood of Dallas.
Mill Creek, in a joint venture with Abington Properties, recently closed on construction financing with Kansas City, Mo.-based UMB Bank. This clears the way for the start of construction at the boutique community, a six-story midrise to feature 190 apartment homes at the intersection of North Hall Street and Howell Street.
"We are ecstatic to expand our presence in the Uptown neighborhood, which is the most sought-after locale in the Dallas area," said Rick Perdue, senior managing director of North Texas for Mill Creek Residential. "Modera Howell will offer a refined living experience in a vibrant, desirable area where first-class dining, shopping and entertainment options are steps away."
The pedestrian-friendly community will offer unimpeded views of uptown and downtown Dallas. The neighborhood boasts a Walk Score of 87 (highly walkable), and the community will sit just steps away from McKinney Avenue, Uptown's most bustling street, which is home to a multitude of restaurants, retail, entertainment options and premier offices. Residents will also enjoy a serene park-like atmosphere with protected-view corridors on three sides.
The one-mile radius surrounding the community site experienced a population growth of 49 percent from 2010 to 2016 and is forecasted to increase another 10 percent by 2021. The community will be a short drive from North Central Expressway and Woodall Rogers Freeway, providing connectivity to major employment centers spanning the Dallas-Fort Worth area.
Modera Howell will consist of studio, 1- , 2- and 3-bedroom apartment homes with an average square footage of 880. Penthouse homes with rooftop terraces will be available on the top floor. Community amenities will include a rooftop amenity deck featuring a resort-inspired swimming pool, high-tech fitness studio, an interior landscaped courtyard with outdoor kitchen and dining area, a sixth-floor sky lounge with sweeping views of Downtown, luxury clubhouse with social lounge, business center and three levels of convenient below-grade parking.
"We designed this community for the discerning renter who wants to be among it all in Uptown while living in an exclusive, boutique environment," Perdue said. "Everything from the rooftop amenity deck with pool, the timeless, traditional architecture, to the walk-up homes on the ground floor were designed with today's renter-by-choice in mind. Modera Howell will truly be a differentiated offering in the marketplace."