Construction on the 20-story tower is expected to begin late next year.
A Carrollton real estate firm founded by a former SMU football player aims to build a 20-story luxury apartment tower near the border of Dallas’ Knox-Henderson neighborhood and Highland Park.The project is proposed as a pair of five-story, L-shaped buildings with below-ground and above-ground parking that would be located behind the Residence Inn Hotel, next to the mall.
Blake Poston, founder of Cover2 Capital, said his company hopes to begin construction on The Savannah, a high-rise at McKinney Avenue and North Central Expressway, in late 2027. Poston said in an email that he expects the project will take 30 months to build and that construction costs are expected to exceed $100 million.
“We are still early in design and predevelopment efforts,” said Poston, a Highland Park High School graduate who played defensive back for SMU. “We are currently working through the city’s development review process as the design continues to evolve.”
The tower is expected to have 100 luxury rental residences at an average of 1,800 square feet. The Savannah will have a mix of one-, two- and three-bedroom units, including three penthouse apartments. Pricing hasn’t been determined, but Poston said he expects the rents to be similar to other luxury properties nearby like The McKenzie, The Lora and The Galatyn.
Cover2 Capital will serve as the project’s developer. The group’s design team currently includes ZDS as the architect of record. Additional partners will be announced at a later date.
The land is owned by Austin-based Halebian Investments, and Poston said his company is under contract to buy the two parcels. Bennett Sikes and Jake Milner of Davidson Bogel Real Estate are the brokers for the transaction.
