Partnership to Develop $58M MF Community in Dallas
Origin Investments and StoneHawk Capital Partners have acquired a nearly three-acre site for the development of The Hendricks, a 285-unit, $57.8 million multifamily community located in the Cedars submarket of Downtown Dallas.
The property, which is located in a qualified opportunity zone, will be developed as a five-story wrap and include 64 studio, 177 one-bedroom and 44 two-bedroom apartments. Units will average 720 square feet and will be feature stainless appliances, quartz countertops, walk-in closets with wood shelving and nodes for desks/workstations. Community amenities will include a resort-style pool, two-level clubroom and lounge, rooftop deck, fitness studio, golf simulator, dog park, dog wash, secured access and elevators.
StoneHawk is a DFW-based developer. The Hendricks marks its seventh development in the DFW market since the company was formed in 2013. For Origin Investments, The Hendricks is its seventh project in Texas. The Hendricks is the 10th project in Origin’s Qualified Opportunity Zone Fund I.
Groundbreaking is slated for the third quarter of 2022.
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector.
Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA.
David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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