Switzerland-based Empira Group has continued its expansion in the U.S. with the acquisition of a 1.1-acre development site steps away from the vibrant Dallas Arts District in the central business district. The newly acquired site will become 375 market-rate apartments with 7,300 square feet of restaurant space and 2,500 square feet of outdoor seating overlooking Celebration of Life Park.
“Dallas has been on our radar for several years as the city has rapidly transformed into a national powerhouse, attracting new residents, professional talent, and businesses,” says Lahcen Knapp, Empira´s chairman.
“From highly educated young professionals to empty nesters looking for a vibrant lifestyle, everyone wants to live in Dallas. Billions of dollars in private capital and public funds have been invested in Dallas’ urban core over the last few years to accommodate for the metro's remarkable population growth. Our state-of-the-art development will provide new housing options to individuals and families who want to live within walking distance of the Dallas Arts District, shops, restaurants, parks, and their workplace.”
The 37-story building will blend functional living spaces with luxury indoor and outdoor amenities. Residents will enjoy a state-of-the-art gym, co-working spaces, a pool, and exterior lounge areas with views of the downtown skyline. The building’s pet amenities are also being planned to promote a pet-friendly environment that fosters a sense of community.
Catering to residents who want to live right in Dallas’ urban core, the area is the largest employment center in north Texas, encompassing over 35 million square feet of office space, over 2,500 businesses, and approximately 200 corporate or regional headquarters. Empira’s high-rise will be within walking distance of St. Paul and Pearl/Arts District DART stations and only a few blocks away from the M-Line Trolley, which offers free daily travel to uptown and downtown Dallas.
“Dallas has absolutely everything our future residents need to enjoy a true ‘live, work, and play’ environment,“ says Rafael Aregger, Empira´s head of investments U.S. “This is such a vibrant city, and we are looking forward to continuing to grow our footprint in this community building developments that will make the city proud.”
The Dallas site acquisition follows the transactions of two high-profile development sites in downtown Miami near Brickell Avenue. Empira plans to develop market-rate multifamily projects that cater to Miami’s growing workforce.