Trammell Crow Starts 435-Unit Office-To-Residential Conversion In Dallas

A Trammell Crow Co. subsidiary has started construction on a Class-A multifamily project that will replace three vacant office buildings along Interstate 635 in Dallas. The 435-unit community sits at 5550 Lyndon B. Johnson Freeway on a site of more than 5 acres.

The project is structured as a Dallas Public Facility Corp. development and will include 217 market-rate apartments and 218 affordable units. Acram Group serves as co-general partner, and Parse Capital is providing preferred equity. Bank OZK is the senior lender.

WDG Architecture is the architect and OHT Partners is the general contractor. Trammell Crow principal Kevin Hickman said the project shows how public-private collaboration can deliver housing in a desirable part of the city. Completion is expected in summer 2028.

The deal is a notable example of a public facility corporation structure being used to combine market-rate and income-restricted units on a former office site.

Practical implication: developers and lenders should note the public-private financing model and the continued pipeline of office-to-residential conversions in Dallas.