New 300-Unit Life for former Credit Union of Texas

Cypress Real Estate Advisors acquired acreage and will soon begin work on what was, at one time, the site of the Credit Union of Texas. The Austin-based developer acquired 3.8 acres at 4600 Ross Ave., with plans to build a four-story, 300-unit apartment complex on the land. Construction is anticipated to begin in Q1 2018, with completion scheduled for early 2020.

Steve Williamson with Transwestern brokered the land transaction. And, according to Bill Rafkin with Cypress, large infill sites are difficult to find so close to Dallas’ CBD. “Cypress was drawn to this dynamic redevelopment opportunity due to its proximity to employers in the nearby Central Business District and Uptown, as well as its easy access to iconic retailers and restaurants along Henderson, Fitzhugh and Lower Greenville,” Rafkin said.

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