{{titleBar.title}}

DALLAS - Associated Estates Realty Corp. (AERC) has finished construction of a new luxury $56.7 million residential tower in Turtle Creek.

The nine-story, Mediterranean-style apartment tower is one of the only for-rent properties in the Turtle Creek area, which houses a large number of condo properties.

The 249-apartment property — called the Cantabria at Turtle Creek — at 2728 Hood St. is 50 percent leased to residents who typically range in age from 30 years old to 60 years old.

The going rent is $2.20 per sf, or ranges from roughly $1,300 to upwards of $3,000 per month. The average cost of a newly completed apartment in Dallas' urban core is roughly $1,800 to $2,000 per month, according to MPF Research.

About 15 percent of the 249 apartment homes in the tower are large, one-bedroom apartments totaling upward of 1,000 sf. The one-bedroom apartments range from $2,100 to $2,600 per month.