FORT WORTH - Three acres of land near the Pier One Imports Building in Fort Worth is under contract to a Phoenix-based company for development of an apartment community.
Alliance Residential is buying the land at the corner of Summit Ave. and West Fifth St. on the western fringe of downtown.
Alliance intends to build a 345-unit apartment community on the land, including some two-story brownstones.
The building, which will have six stories on the west and seven stories on the east, along with a one-acre outdoor amenity level located on the building's second level.
It is being designed by GFF architects in Fort Worth and will be called Brownstone 5th and Summit.
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