StreetLights Residential and Mitsui Fudosan America have joined forces to develop a 20-story luxury multifamily high-rise in Dallas, marking the latest major addition to the rapidly evolving Park Lane corridor. Construction is set to begin this month with completion targeted for 2029, according to information shared with Multifamily Dive.
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The project will deliver 365 residential units at the southeast corner of Park Lane and U.S. Route 75. The tower will feature studio, one-, two- and three-bedroom apartments ranging from 505 to 1,707 square feet. While the development team has not yet announced an official name, plans call for structured parking, ground-level retail, and a robust suite of hospitality-style amenities. The project cost has not been disclosed.
Planned amenities include:
Situated within walking distance of The Shops at Park Lane and near NorthPark Center, Whole Foods and IKEA, the tower is designed to cater to residents seeking a highly connected urban lifestyle.
Greg Coutant, senior vice president of development at StreetLights Residential, said the project reflects the firm’s “commitment to delivering elevated, design-forward living in walkable, amenity-rich environments.”
“The building will offer a seamless live–work–play experience while providing immediate access to shopping, dining, and everyday conveniences,” Coutant said. “It will also advance the revitalization of the Park Lane corridor as one of Dallas’ most dynamic mixed-use districts.”
StreetLights Creative Studio will serve as architect of record and interior designer, while Garrison/Jones will lead landscape design.
The building’s H-shaped configuration is intended to maximize natural light and views. Two ceremonial staircases will connect indoor and outdoor amenities, linking the pool deck to an overlooking patio. Upper levels from floors 17 through 20 will feature expanded window coverage, and penthouse units will include taller ceilings for a more premium residential experience.
This marks the second joint venture between StreetLights Residential and Mitsui Fudosan America, the U.S. arm of Japan’s largest real estate company. The partners previously collaborated on The Oliver, a 351-unit, 18-story tower in Dallas’ Cityplace neighborhood. StreetLights has also recently delivered other regional projects including The Galatyn and The Hamilton.
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The Park Lane district has emerged as one of North Dallas’ most active multifamily and mixed-use submarkets. Proximity to major employment centers, DART rail access and established retail destinations has attracted institutional capital seeking long-term rental demand. Real estate analysts note that luxury high-rise construction has accelerated as companies relocate to North Texas and higher-income households look for amenity-rich urban living outside the downtown core.
Developers say the corridor’s blend of transit, shopping and infill redevelopment opportunities makes it ideal for large-scale residential projects that can command premium rents while maintaining strong occupancy.
The development team emphasized that the tower is being conceived more like a boutique hotel than a traditional apartment building. Interiors will feature curated finishes, flexible workspaces and multiple outdoor environments aimed at remote professionals and young families.
Destination-dispatch elevators, private offices within the coworking lounge and alternating-floor pet relief areas are among the design elements intended to differentiate the property in a competitive Dallas market.
Despite national concerns over multifamily supply, Dallas continues to post some of the strongest absorption numbers in the country. Industry data points to steady in-migration, corporate relocations and limited new high-rise inventory outside the urban core as key drivers. StreetLights and Mitsui are betting that well-located, design-focused product will outperform more conventional suburban offerings.
Local brokers expect preleasing to begin well ahead of the 2029 completion date, citing pent-up demand for larger units and hospitality-level amenities near NorthPark and Park Lane.
Originally reported by Julie Strupp, Senior Editor in Construction Dive.
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