Empira AG, founded in 2014, announced plans to purchase the 1.1-acre site and build a high-rise building in 2023.
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Swiss investment management firm Empira Group could begin construction on a 35-story apartment tower in downtown Dallas by the end of the year.
The tower, located at 711 N. Pearl St., across from the Plaza of the Americas, will be 35 stories high and house 370 apartments, ranging from studios up to three-bedroom units. It's a schedule.
Empira AG, founded in 2014, announced plans to purchase the 1.1-acre site and build a high-rise building in 2023.
This week, the company revealed more about the timeline, project details, and latest renderings. An Empira spokesperson said the company aims to break ground in the fourth quarter, illustrating how certain real estate developments continue to move forward. Construction is expected to be completed in 2026.
The tower will feature 8,660 square feet of retail space on the ground floor, while the ninth floor will feature an amenity level with a resident lounge, pool and co-working space. It will also include eight penthouse units with panoramic views of Dallas and a seven-story parking garage with 515 spaces.
“Dallas has captured our attention in recent years as it attracts new residents, professionals and businesses and is rapidly transforming into the nation's largest metropolis,” Larsen Knapp, chairman of Empira Group, said in a previous statement. ” he said. “Everyone wants to live in Dallas, from highly educated young professionals to empty nesters looking for a vibrant lifestyle.”
The Pearl Street site is located between Dallas' Central Business District and Arts District. Knapp said Empira's decision incorporates major investments in the city's “urban core.”
