435-Apartment Mixed-Income Development Breaks Ground at 5550 LBJ
The North Dallas project replaces office buildings while retaining a parking garage, with delivery targeted for summer 2028.
High Street Residential and Acram Group have broken ground on a 435-apartment development at 5550 LBJ in North Dallas. The October 12 owner announcement confirms a mixed-income project with 218 affordable homes and 217 market-rate homes.
The development occupies approximately 5.4 acres within an 8.6-acre property. It replaces three office buildings and incorporates an existing parking garage, making reuse and redevelopment part of the construction strategy.
Project at a Glance
- Homes:
- 435
- Affordable homes:
- 218
- Market-rate homes:
- 217
- Delivery target:
- Summer 2028
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A change in use with retained infrastructure
The residential program comprises buildings of five and seven stories. Retaining the garage allows part of the existing property infrastructure to remain in use, while the surrounding buildings and circulation are adapted to a different type of occupancy.
That combination creates interfaces between existing and new work. Structural connections, access, utilities and the everyday movement of residents must support the completed community. The announcement does not provide a detailed sequence for each building or garage interface.
Mixed-income delivery
The affordable and market-rate allocations together account for the full 435-home program. The public-finance structure supports the mixed-income development, but figures associated with long-term tax treatment should not be described as the cost of construction.
The owner announcement identifies Parse Capital as the preferred-equity provider and Bank OZK as the senior lender. These financing roles are separate from the building and design appointments. A detailed delivery team has been identified, while individual trade awards remain a further research task.
The next construction milestones
Summer 2028 is the stated delivery target. A groundbreaking establishes a meaningful start milestone, but does not mean that every building will reach completion at the same time.
The next useful updates will concern foundation and structural progress, work connecting the retained garage to the new development, and the sequence of apartment handovers. Those milestones will show how the mixed-income program moves from a funded project into completed housing.