Medistar is out. Dhanani Private Equity Group is in as far as building an Audubon multifamily project is concerned. The Dallas Business Journal reports that Dhanani purchased the roughly 12 acres along Audubon Parkway outside the Audubon Park neighborhood from Medistar last August and will start work on the Territory at Audubon at Magnolia.

Dhanani is still working on obtaining all necessary permits and expects to break ground in the next three months. Full completion should take about 18 months.

Dhanani has kept architecture firm Cobalt Office.

The 300-unit complex will have one-, two—and three-bedroom apartments averaging 953 square feet in nine three-story buildings, as well as an 8,000-square-foot clubhouse with several lounges. Pricing will likely be around $2 per square foot. Planned amenities include a two-level pool with a connecting waterfall, outdoor yoga, fitness center, dog park, barbecue grills, bike repair area, electric vehicle chargers and garage parking.