The Dallas Arts District, Downtown and Uptown are merging into a vibrant, highly desirable, 24-hour urban area and Atelier sits at the heart of this very important intersection
DALLAS (PRWEB) July 02, 2018
ZOM Living, in partnership with affiliates of Daiwa House Texas Inc. and Itochu Corporation, recently broke ground on a new luxury high-rise in the flourishing Dallas Arts District. ATELIER, a mixed-use community comprised of 364 luxury residential tower units with unmatched panoramic views of both Uptown and Downtown, will be the tallest rental tower in the Dallas area at 41 stories. Residents will enjoy over 26,000 square feet of amenity space and 15,000 square feet of onsite retail. ATELIER will also be home to FLORA LOFTS, 52 affordable artist lofts developed by local architect Graham Greene to provide needed housing for the local arts community. In addition, there will be 157 hourly-fee public parking spaces in the underground structure and 553 resident spaces in a 10-story parking garage.
Situated in the Arts District directly ZOM between Uptown and Downtown, and only steps from Klyde Warren Park, ATELIER is perfectly located at the intersection of arts, culture, employment, shopping, dining, and transit. This architecturally stunning building will take advantage of the best urban lifestyle Dallas has to offer.
“We are proud to be part of the transformation of this evolving neighborhood,” said Greg West, ZOM Chief Executive Officer. “The Arts District, Downtown and Uptown are merging into a vibrant, highly desirable, 24-hour urban area and Atelier sits at the heart of this very important intersection.”
“Daiwa House is excited to be part of this unique opportunity which will provide luxury and affordable housing to the Arts District,” stated Takeshi Wakita, President of Daiwa House Texas Inc.
Graham Greene added, “We celebrate the beginning of Atelier Luxury Residential development in the Dallas Arts District and have great confidence in its success. The wonderful, adjacent companion element in the development -- Flora Lofts, mixed income housing for working artists – is continuing in anticipation of closing on financing and advancing the project over the coming months. Flora Lofts vision remains strong and its supporters remain committed to realizing a project that helps fulfill our commitment to a vibrant inclusive arts community in Dallas. We encourage our supporters to stay strong with their desire to see the fulfillment of this Arts District affordable artists housing dream. We remain committed to its fulfillment.”
One, two and three bedroom units will range from 702 to 2,266 square feet and the 11th floor amenity deck will feature a lushly landscaped deck surrounding a resort-style pool, multiple spacious open lounge areas with wi-fi, membership-quality fitness center, yoga/spin room, e-lounge, conference room, co-working spaces, fire pits, dog salon, private wine lockers, BBQ grills, and an entertainment kitchen with indoor and outdoor dining areas. The amenity level is intended to foster interaction among residents and provide an urban oasis, a variety of social settings and activities without having to leave the community.
Construction financing was provided by Fifth Third Bank and SunTrust Bank. Architectural design provided by Stantec and the general contractor is Balfour Beatty. ZRS Management, LLC is providing leasing and property management services.
ZOM Living is one of the most highly regarded luxury multifamily developers in the United States, and has joint ventured or directly developed nearly 20,000 apartment units nationwide, with an aggregate value of over $4 Billion. Throughout its 40-year history, ZOM has garnered more than 160 industry awards for project design and development expertise, including the prestigious National Multifamily Development Firm of the Year award and garnering two national Pillar Awards from the National Association of Home Builders, for Best Low-Rise Project (Baldwin Harbor/Orlando) and Best High-Rise (Monarc at Met3/Miami). ZOM Living is headquartered in Orlando and has regional development offices in South Florida, Dallas, Washington D.C., Chicago and Raleigh. ZOM has 5,000 units currently under construction or in design/predevelopment throughout the U.S., with a total capitalization of $1.6 Billion. For more information on ZOM’s multifamily portfolio, visit zomliving.com.
About Daiwa House Texas, Inc.
From its humble beginnings in the early 1950s creating small, affordable prefabricated housing to its status now as the largest single-family homebuilder in Japan, the Daiwa House Group continues to make strides in the United States by fulfilling its corporate mission of effective leadership, innovation and environmentalism through its wholly owned subsidiary: Daiwa House Texas. Founded in 2011, the firm has already established a reputation for quality and excellence by developing premiere multifamily properties in most major metro areas across the country and, after the acquisition of Stanley Martin in 2016, construction of scores of robust single-family homes throughout the East Coast. In the coming decades, Daiwa House Group and Daiwa House Texas look forward to continuing their goal of partnering with developers to provide Americans with superior places to live.
About Itochu Corporation
The history of ITOCHU Corporation dates back to 1858 when the Company's founder Chubei Itoh commenced linen trading operations. Since then, ITOCHU has evolved and grown over 150 years. With approximately 120 bases in 63 countries, ITOCHU, one of the leading sogo shosha, is engaging in domestic trading, import/export, and overseas trading of various products such as textile, machinery, metals, minerals, energy, chemicals, food, general products, realty, information and communications technology, and finance, as well as business investment in Japan and overseas. Using the combined capabilities of the ITOCHU Group value chain, ITOCHU promotes maximization of clients' corporate and business value. ITOCHU intends to reinforce its operations in the United States in order to establish an efficient value chain for its real-estate business, leveraging its considerable development expertise, experience and network in Japan, including a composition of trusts such as REITs and also participating in such a splendid project.
About Fifth Third Bank
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. As of March 31, 2018, the Company had $142 billion in assets and operated 1,153 full-service Banking Centers and customer access to more than 54,000 fee-free ATMs across the United States. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending and Wealth & Asset Management. Fifth Third Bank was established in 1858. For more information, go to 53.com.
About SunTrust Banks, Inc.
SunTrust Banks, Inc. (suntrust.com) is a purpose-driven company dedicated to Lighting the Way to Financial Well-Being for the people, businesses, and communities it serves. Headquartered in Atlanta, the Company has two business segments: Consumer and Wholesale. Its flagship subsidiary, SunTrust Bank, operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states, along with 24-hour digital access. Certain business lines serve consumer, commercial, corporate, and institutional clients nationally. As of December 31, 2017, SunTrust had total assets of $206 billion and total deposits of $161 billion. The Company provides deposit, credit, trust, investment, mortgage, asset management, securities brokerage, and capital market services. SunTrust leads onUp, a national movement inspiring Americans to build financial confidence. Join the movement at onUp.com.
Communities are fundamental. Whether around the corner or across the globe, they provide a foundation, a sense of place and of belonging. That's why at Stantec, we always design with community in mind. We care about the communities we serve—because they're our communities too. We're designers, engineers, scientists, and project managers, innovating together at the intersection of community, creativity, and client relationships. Balancing these priorities results in projects that advance the quality of life in communities across the globe. Visit us at stantec.com or find us on social media.