Dallas Developer Working on Affordable, Market Rate Apartments

Developer Mikial Onu thinks he’s found something for southside Dallas residents; affordable, market-rate apartments and the retail options to go with it. The Dallas Business Journal reports Onu is building 238 multifamily units as well as a 2.5-acre retail component at I-20 and Bonnie View Trail. Phase one of the $50 million venture will concentrate on the retail portion of Adaline Plaza, a 4,000 square foot cafe and a 5,000 square foot leasable building. Onu hopes that will spark interest in the apartments.

The retail part of Adaline Plaza is anticipated to be completed in August, and multifamily units are expected to be delivered late next year.

To cut costs, Adaline Plaza will offer smaller units than most market-rate apartments without lavish amenities. Rooms will include 440-square-foot studios, one-bedroom units of 700 to 800 square feet and two-bedrooms of 1,000 to 1150 square feet — smaller than typical market-rate units, accomplished with reduced ceiling heights and exterior entry on first-floor units.

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