Houston-based developer Hines has applied for a building permit to build its next tower in Victory Park, northwest of downtown Dallas.
Hines is already constructing Victory Park's tallest building, the 40-story Victor Apartments, located across the street from the American Airlines Center, home of the Dallas Mavericks and Dallas Stars professional sports teams. A 344-unit residential high-rise opened in his 2021 year.
The developer's new building permit is for another apartment tower to be built at 2371 Victory Avenue next to the One Victory Park office tower. Permits detail that the tower will include 480 residential units and 835 parking spaces.
The total value of the building permits is more than $150 million.
Last fall, Houston-based architects Muñoz + Alvin (the same firm that designed Mr. Hines' Victor Building) released renderings of a high-rise building to be built on the site called “Ayre.” Hines said project details are too early.
The developer is also building a 345-unit, 22-story apartment tower as part of the Maple Terrace development in Uptown Dallas.
Hines' Victory Avenue site is one of the last vacant building sites within the 75-acre Victory Park.
Six high-rise apartment projects have been built in the development over the past decade.
The newest tower is the Victory Commons One Building, developed by Perrows Hillwood. The 15-story, 365,000 square foot office project has just signed a major lease with London-based global investment research firm Third Bridge Group.
When it began 25 years ago, Victory Park was one of the nation's largest urban renewal projects, replacing an old power plant, grain elevator, and rail yard.
The project is currently valued at approximately $3 billion.
