Amli Residential plans to develop a 367-unit, 45-story apartment high-rise on Field Street in Dallas, The Dallas Morning News reported.
The company tapped Page Southerland Page Inc. to design the $150 million Amli Fountain Place property, which will sit next to the Fountain Place skyscraper, according to the report. The new tower is slated to be the tallest one built in downtown Dallas in three decades. It will be built on a site previously intended for a second-phase tower at Fountain Place.
Following a roughly two-year construction period, the asset will feature rental units spanning around 1,250 square feet, as well as a pool deck and a parking garage. The report noted that such high-rise apartments typically cost as much as $3 per square foot.
Goddard Investment Group, which bought the property in 2014, is currently building an adjoining parking garage and retail building, the report added.