Anthem Development, a Beck Ventures Company, broke ground on the first phase of redevelopment for the new Transit-Oriented District surrounding Dallas Area Rapid Transit’s (DART) Lake Ray Hubbard Station in Garland. This first phase includes the development of Lofts iThirty, a 340-unit, $64 million Class-A multifamily project located at 6302 Greenbelt Parkway. The initial opening of Lofts iThirty is scheduled for Q4 of 2024.
Anthem’s rezoning effort, in conjunction with DART, Wal-Mart, Kimley Horn, and the City of Garland, took over 18-months and the first phase of this mixed-use project was permitted last month. The rezoning project was awarded by the American Planners Association for its innovative approach. The final study ultimately calls for the redevelopment of the DART station, as well as two adjacent retail & hospitality pad sites that are currently being marketed.
Lofts iThirty will feature five, four-story buildings with amenities including two resort style pools, pet spa, park, game room, coffee bar, remote-work sky-lounge, outdoor kitchens, elevator access, climate-controlled corridors, and two 24-hour fitness centers totaling over 3,500 square feet. The community is conveniently located adjacent to Interstate 30, less than 15 minutes from Downtown Dallas. Additionally, Lofts iThirty was designed to be pedestrian-friendly and sits across from Duck Creek Trail, as well as a variety of shopping, dining, & entertainment options, and will offer short commutes to major employers.
Anthem exclusively engaged Nova Capital to arrange financing for the development of the project with Bank OZK, and ultimately secured co-investment from an institutional joint venture equity partner with over $6 billion in capital under management.
