New project in the works for Dallas' Uptown will have office and apartment towers

Developers who own a key property in Dallas' Uptown district plan to build a high-rise office and residential project.

RED Development of Phoenix has teamed up with Dallas' StreetLights to build the $200 million Akard Place mixed-use project at Field Street and Cedar Springs Road.

The 16-story office tower and 20-story residential building will occupy all of the vacant block, which is just north of Woodall Rodgers Freeway and the Perot Museum. It's one of the last large building sites in the neighborhood.

Groundfloor retail and a large public plaza will connect the two buildings.

"There is a great demand now for restaurants and retail in Uptown," RED Development managing partner Mike Ebert said. "There is big demand for offices.

"We think the timing for this project is outstanding."

RED has been working on the Akard Place development for several years. In 2012 it bought the land from the Dallas Police & Fire Pension System. Ebert said the Dallas pension fund is a partner in his firm's holding company.

RED hired Seattle-based Graphite Design Group as architect of Akard Place. And landscape architect OJB - which designed downtown Dallas' Klyde Warren Park - is also working on the project.

Commercial real estate firm CBRE Group has been hired to market the office building to business tenants.

StreetLights Residential - which just built the Taylor apartment tower in Uptown - was selected as the apartment developer.

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New project in the works for Dallas' Uptown will have office and apartment towers