New $150M Tower Project, Victory Park Tower for Sale

A new high-rise residential tower, costing $150 million, is set to grace Dallas’ Victory Park, starting construction in July 2024, according to a WFAA article which says, 

“Another soaring apartment tower is slated to rise above Dallas’ Victory Park neighborhood.

Construction will begin in July 2024 on a 569,133-square-foot high-rise residential project at 2371 Victory Ave., a Dec. 7 filing with the state indicates. The project is expected to be complete by the end of 2026. Construction has been estimated to cost $150 million.”

Lennar Corp. is considering the sale of The 23 luxury apartments on Victory Avenue, according to a Dallas Morning News article. They report, 

“Now another Victory Park residential property — The 23 high-rise apartments at 2370 Victory Avenue — could be in play.

The 23 is owned by Quarterra, a subsidiary of Florida-based homebuilder Lennar Corp.

Lennar is looking to sell more than 11,000 rental units owned by Quarterra across the country, according to a report from Bloomberg News. The huge luxury apartment sale could be valued at as much as $4.5 billion.”

The DFW area leads the nation in apartment sales, with over 30,000 rental units changing hands in the first half of 2023.