The Tory Opens in Uptown, Amid Strong Luxury Residential Market

Dallas-based StreetLights Residential Inc is opening The Taylor lofts, after a year of construction. The first 18 of the 308 luxury homes are complete. The 17-story high-rise residential tower is located at 3100 Carlisle in Uptown. The remaining residences are scheduled for completion in November.

In 2011, the Uptown submarket was one of the best-performing submarkets in the nation, with a 12.3 percent rent growth rate. The average rent in Uptown is about $1.87 per square foot for new construction and apartment construction is booming now.

The nearby is Monaco on the Trail by Dallas-based Alamo Manhattan which will also open soon. With so many projects underway in Uptown there should be plenty of high-rise apartments to meet demand. The question now is how much demand exists in the luxury residential market in Uptown.

Source: Dallas Business Journal, Sept 13, 2013.

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