D-FW deals: First look at 27-story Knox Street tower and big suburban land sale

The group behind the roughly 1 million-square-foot Knox Street mixed-use project offered a sneak peek at the development’s 27-story apartment tower.

BDT & MSD Partners, Trammell Crow Co. together with their partners The Summers Group, Gillon Property Group and The Retail Connection announced that leasing at The Lora, a 186-unit luxury high-rise, is expected to start this summer. Apartments range from one to four bedrooms, spanning from 800 square feet to 3,500 square feet.

The 27-story building is clad in terracotta-toned precast concrete and bronze detailing. Private terraces offer views of downtown Dallas, Highland Park and beyond. The tower will feature a full floor of indoor and outdoor amenities that include wellness, leisure and gathering spaces.  Architecture and design firms Woods Bagot and Dallas-based Chad Dorsey Design also handled the tower’s architecture and interiors. The tower is inspired by the site’s location along the historic Missouri-Kansas-Texas Railroad line.

The property will also include 24-hour-a-day reception and security along with a dedicated concierge. Leasing at The Lora is led by Maria Dryden of Allie Beth Allman & Associates, and FirstService Residential will oversee the property’s management.

Work on the 4-acre mixed-use development began earlier this year. The Lora is part of a three-tower development that will also include 150,000 square feet of office space, 100,000 square feet of retail, a half-acre park with direct connection to the Katy Trail, as well as The Knox Hotel and Residences, a 140-room hotel and 47 luxury condominiums operated by Auberge Collection.

Trammell representatives previously declined to say how much the partnership invested in the project or its estimated worth. But the project was once called Dallas’ most expensive real estate project.

“For The Lora, our vision was to express the character of Knox Street in a contemporary way, with warm and layered sophistication,” Joel Behrens, market leader for TCC Dallas-Fort Worth, said in a statement. “It was important that we remain true to the place, while also delivering exceptional quality, craftsmanship, and lifestyle that today’s discerning residents appreciate most.

A 182-acre plot in Grayson County was sold to a developer, marking what could be another project that grows North Texas closer to the Red River. 

The tract outside of Howe city limits was sold to Cherukuru Investments at Howe LLC, according to Grayson County documents. The firm is managed by Ravi Cherukuru of Westlake.

Potential plans for the property include a mixed-use development with residential and retail components with phased development spanning five to 10 years, Cherukuru said in a news release from Younger Partners who represented the seller.

“With convenient access to major transportation routes and nearby employment centers, we see an opportunity to create a thoughtfully planned mixed-use development with residential and retail components that can support the continued growth and economic expansion taking place near Howe,” Cherukuru said in the news release. 

The land is less than 2 miles from U.S. 75 and is at the northeast corner of FM 902 and Bennett Road. The transaction closed in April, according to county records. Terms of the deal were not disclosed. 

The site was sold by the Hightower family, which had owned the land dating back to the Texas Land Grant era, according to the news release. Ethan Peck — an associate of Younger Partners who represented the sellers with executive managing director John St. Clair — said rapid growth has occurred along the U.S. 75 corridor. 

“I think they were ready to leave on this piece of property in Howe due to the fact of that continuing growth up north,” Peck said. “And so it’s hard to say why the family exactly chose now to sell the property, but I do know that they were excited about the transaction.”