Developer Buys Site for New Downtown Dallas Skyscraper

Developers have purchased property to build the first true downtown Dallas skyscraper in seven years.Chicago-based Amli Residential bought the vacant block on Field Street just north of Ross Avenue.The developer plans to build a more than 40-story apartment tower on the parking lot next door to the landmark Fountain Place office tower.Deed records say that Amli's planned high-rise will have 367 rental units.The nationwide apartment builder bought the building site from Fountain Place owner Goddard Investments. Goddard is currently building a parking garage and retail building on the east side of Fountain Place.Dallas architect Page Southerland Page Inc. has designed the planned residential skyscraper for Amli. Early concepts show a slender, prismatic tower will compliment Fountain Place.Amli's Field Street tower would be the tallest downtown building started since construction began in 2010 on the 42-story Museum Tower condominium building in the Arts District.The apartment project would be one of about a dozen high-rise residential buildings under construction in the Dallas area. It would be located a block south of Woodall Rodgers Freeway.Amli Residential is one of the country's largest and most experienced apartment builders, investors and operators.The company owns the the 24-story 1400 Hi-Line apartment tower in Dallas' Design District, along with about a dozen more apartment communities in North Texas.  Continue reading...