Mill Creek Breaks Ground on Modera Turtle Creek

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207 Luxury Apartment Homes to Add to Uprising Dallas Neighborhood

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Modera Turtle Creek will offer the amenities, features and lifestyle current and future Turtle Creek residents are looking for in a luxury apartment living experience.

Mill Creek Residential, a leading multifamily investor and operator specializing in premier apartment communities across the U.S., today announced that through a joint venture with Elite International Investment Fund, a leading real estate investment platform with capital from Asia, it has broken ground on Modera Turtle Creek.

The mixed-use community will add 207 upscale apartment homes to one of the city’s affluent, more prestigious neighborhoods – Turtle Creek – which contains a population largely consisting of professionals working in creative fields. The six-story structure, which will feature three levels of subterranean parking, is being constructed on the southwest corner of Cedar Springs Road and Welborn Street. The vacant lot was purchased from Oak Lawn United Methodist Church.

“Turtle Creek is the place to live in Dallas for today’s rapidly growing segment of creative professionals,” said Rick Perdue, Mill Creek Residential managing director for Dallas. “And Modera Turtle Creek will offer the amenities, features and lifestyle current and future Turtle Creek residents are looking for in a luxury apartment living experience. Residents of Modera Turtle Creek will have everything they need within a short walk or drive of their well-appointed apartment home.”

Situated in close proximity to many of the city’s most desirable locales, Modera Turtle Creek will offer residents a chic urban lifestyle in a convenient and entertainment-rich environment. Nightlife-centric Downtown Dallas is within minutes of the community, as are several of the city’s vibrant neighborhoods. Nearby Preston Center, Rosewood Mansion at Turtle Creek and Warwick Hotel represent some of the city’s iconic attractions.

The Turtle Creek neighborhood, often referred to as “Dallas’ Gold Coast” due to its modern architecture, magnificent views and luxurious high-rises, is flanked by the Highland Park neighborhood to the north, Uptown to the east and south and the Design and Medical Districts to the west. Two of the city’s most prominent thoroughfares, Dallas North Tollway and Oak Lawn Avenue, are only a block away from the community and provide access to employment opportunities across the sprawling metropolis.

Modera Turtle Creek enjoys an incredible walk score of 89, meaning most errands can be accomplished on foot. Those wanting to escape the bustle of the city are a short walk from Turtle Creek, a tributary creek of the Trinity River which features three miles of landscaped trails and a recently-constructed connection ramp to Katy Trail, Dallas’ most revered running trail.

Modera Turtle Creek will include a vast array of upmarket amenities, both amidst the community and inside the apartments themselves. Among the many notable community amenities will be a resort-style pool with tanning edge, an outdoor lounge and cooking area with gas grills, a fitness center, controlled-access parking and entry, private individual storage and Wi-Fi connectivity in common areas.

Inside the community’s studio, 1- and 2-bedroom apartment homes, residents will be greeted with 42-inch cabinets, stainless steel appliances, granite countertops, wood-plank flooring and a custom light package, among additional amenities.

With the addition of Modera Turtle Creek, Mill Creek owns and operates 938 apartment homes, and has begun construction on more than 707 additional apartments, in the Dallas metropolitan area.

About Mill Creek Residential
Mill Creek Residential Trust LLC is a national multifamily company focused on the development, acquisition and operation of apartment communities in targeted markets nationwide. The company proactively pursues development, acquisition and construction opportunities through its seasoned team of real estate professionals in 14 offices across the United States. Mill Creek is building its portfolio in many of the nation’s most desirable apartment markets in Seattle, Portland, the San Francisco Bay area, Southern California, Denver, Dallas, Austin, Houston, South Florida, Tampa, Orlando, Atlanta, Washington, D.C., New Jersey, New York, and Boston. As of September 30, 2015, the company’s portfolio comprises 47 communities representing nearly 14,162 apartment homes that are operating, under construction or in planning. For more information, please visit http://www.MillCreekPlaces.com.

About Elite International Investment Fund
Established in May 2013, Elite International Investment Fund (EIIF) is a privately-owned real estate investment management company with offices in Beijing, Los Angeles, and New York. EIIF seeks to deliver attractive risk adjusted returns to our investors. Our disciplined investment strategy is responsive to different stages of the real estate cycles through discreet selection, stringent underwriting and working with the best local talents and sponsors. Since its inception, EIIF has set the precedence as the first Chinese private equity fund ever to invest in a U.S. development project, as well as the first to bring on board a major Chinese bank as an equity partner. http://www.crecc.org/newsite/en/elite.html

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Peter Jakel
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