Business Specialties Development
May 7, 2008
Dallas Morning News reports that multifamily real estate investment trust UDR is kicking off construction of Vitruvian Park, its massive mixed-use apartment compound on 100 acres in Addison, Tex. Vitruvian Park will ultimately feature over 5,000 residences accompanied by office and retail space. UDR finished amassing the group of parcels for the project in mid-2007, and the company will demolish nearly 3,000 old apartments to make room for the behemoth development. Nearly 700 apartments will be built as part of the first phase, which will wrap up in early 2010. UDR plans to complete future phases of the endeavor with in conjunction with one more institutional investors.
Dallas Morning News reports that multifamily real estate investment trust UDR is kicking off construction of Vitruvian Park, its massive mixed-use apartment compound on 100 acres in Addison, Tex. Vitruvian Park will ultimately feature over 5,000 residences accompanied by office and retail space. UDR finished amassing the group of parcels for the project in mid-2007, and the company will demolish nearly 3,000 old apartments to make room for the behemoth development. Nearly 700 apartments will be built as part of the first phase, which will wrap up in early 2010. UDR plans to complete future phases of the endeavor with in conjunction with one more institutional investors.
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