DALLAS - Construction has started on the 424-unit, luxury apartment community called Elan City Lights at Dallas’ City Lights development, on the eastern edge of downtown.
Apartment developer Greystar recently bought the four-acre vacant tract at Live Oak St. and Good-Latimer Expy. Construction costs on the five-story apartment complex are estimated at $40.1 million, according to state filings. The first units in the development will be ready in late 2014.
Greystar acquired the property out of bankruptcy. The previous owners — starting in 2004 — hoped to construct a $175 million complex that included a grocery-anchored shopping center, high-rise residential buildings and a hotel just two blocks from a commuter rail station. That development never got off the ground.
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