{{titleBar.title}}

{{titleBar.tagline}}

 

 

$45M Sapphire apartment set near UTA$45M Sapphire apartment set near UTAhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=45552014-03-27T07:22:00Z2014-03-27T07:00:00Z

ARLINGTON - Dallas-based Maxum + Mint will replace three aging apartments with its Sapphire Inspired Living project, a $45 million high-density apartment complex, which is expected to house up to 760 University of Texas at Arlington students. Construction on the project is set to begin in April.

Once it is built, Sapphire will increase the taxable value of the 4.5-acre site by ten times, Arlington Economic Development Manager Bruce Payne said. Besides reimbursing some of the demolition costs with $1 million, the city agreed to waive up to $450,000 in development-related fees.

The 254-unit complex will be bounded by Mitchell St. and Hosack St. on the north and south, respectively, and by Center St. and Mesquite St. on the east and west, respectively.

Three apartment complexes and a vacant clinic have already been demolished for the new project, set to open in August 2015, said developer Jay Matthiesen.

Dallas Morning News
Dallas-Fort Worth-Arlington
Multifamily
http://www.dallasnews.com/business/business-headlines/20140326-arlington-approves-incentives-for-45-million-apartment-complex-near-uta.eceRead more at {Source}

 Search NewsTalk Texas