Kairoi Residential is building the rental community next door to the Crescent.
Construction has started on Uptown Dallas’ latest high-rise — a 12-story apartment building across the street from the Crescent.
San Antonio developer Kairoi Residential is building the project at 2620 Maple Ave. near Cedar Springs Road.
The more than 335,000-square-foot project will contain almost 150 rental units and is being built on the site of the storied Old Warsaw restaurant.
Kairoi purchased the prime development site on Maple Avenue in 2018 for an estimated $375 per square foot. It’s one of last vacant high-rise development sites available on that stretch of Maple Avenue.
Kairoi operates in eight states with offices in San Antonio, Austin and Denver. It has $1.5 billion worth of projects in the works in Austin, Dallas, San Antonio, Houston, Denver, Miami and Chicago.
In Dallas, the developer recently built a 297-unit apartment project on Harwood Street in downtown’s Farmers Market District.
And in North Oak Cliff, Kairoi is preparing to start construction on another apartment community that will occupy the site of the recently demolished El Fenix restaurant.
Dallas-Fort Worth is the country’s fastest-growing apartment market, with more than 40,000 units under construction.
Kairoi’s Uptown development is one of several new apartment deals in North Texas that have started during the pandemic.
It’s one of almost a dozen high-rise residential buildings that have either just opened are still under construction in North Texas.
Crescent Real Estate is seeking zoning approval this week for an even larger Maple Avenue apartment tower it’s planning to build near the Stoneleigh Hotel.