The completion of the first apartment tower in what is expected to be a multiphased project known as Dallas Urby brings a sense of New York-style to modern high-rise living on the city's Design District with views of the downtown Dallas skyline, setting the tone for even more Urby projects in the Lone Star State and beyond.
The completion of the first tower, a 27-story, 383-unit residential tower at 1930 Hi Line Drive, just northwest of downtown Dallas, last August has made way for the project's second tower to break ground in January. The second tower is expected to also rise 27 stories with 364 units of apartments, with completion scheduled in 2024. In all, the project by a joint venture between Brookfield Properties and Ironstate Development, is expected to span three buildings and bring more than 900 apartments to Dallas.
"Relative to Dallas itself, the Design District is an interesting area where older industrial spaces are turning over and its connection to the Trinity Trail and the Katy Trail, it made a great place for Urby and the kind of community we wanted to create," Urby founder and CEO David Barry told CoStar News, adding his team is bringing a new kind of hospitality element to apartment living to ensure everyone feels welcome.
Urby, which also operates properties in New York City, Jersey City, Harrison, Stamford and Newark, expects to expand its footprint to other U.S. cities, including Austin, Houston, Miami, Philadelphia and Washington, D.C., in the future. The Philadelphia Urby is expected to open in summer 2024, with Washington, D.C. and Miami expected to follow towards the end of next year. Barry said the group is in active discussions in Austin and Houston to bring Urby to those two Texas cities.
The Dallas Urby project earned a 2023 CoStar Impact Award, as judged by real estate professionals familiar with the market.
About the Project: The initial phase of Dallas Urby, a 27-story, 383-unit apartment tower on a 4-acre site along Hi Line Drive includes one- and two-bedroom apartments with community amenities, including a fitness center with a yoga room and functional training center, pool, a public cafe, library, courtyard and dog park with an adjacent dog wash.
What the Judges Said: "This is a significant new development in the Design District, which will act as an anchor for continued development and redevelopment of other commercial properties in this area," said Steve Triolet, senior vice president of research and market forecasting for Partners.
They Made It Happen: David Barry is the founder and CEO of Urby, an innovator in hospitality-focused residential real estate. Amsterdam-based architect Concrete and Dallas-based architecture firm 5G Studio Collaborative are the project designers.