Quarterra Plans Massive Multifamily Complex in Oak Cliff

Quarterra Multifamily is laying claim to some prime real estate about six miles west of downtown Dallas.

The North Carolina-based developer plans a massive apartment complex at the Canyon in Oak Cliff.

Quarterra filed plans with the state to build 372 units at 3500 Colorado Boulevard, which is on the west side of the Oak Cliff neighborhood. The project is estimated to cost $70 million, or about $188,000 per unit, with construction starting in September and lasting about two years, according to the Texas Department of Licensing and Regulation filing.

The filing suggests there may be more to the project, but the company is staying quiet for now. Quarterra declined to comment.

Little else has been revealed about the development, titled Canyon Phase 1. The project site sits just off Interstate 30 next to a Residence Inn by Marriott and across the interstate from the Dallas Animal Services Department. It is three miles from the 25-acre, $300 million Trinity Green development, which includes hundreds of apartments, townhomes and a public park.

The land is within the 200-acre Canyon at Oak Cliff, a development in the works for over a decade, which so far consists of a couple of other apartment complexes, the hotel and two national chain restaurants.

Quarterra Multifamily, formerly known as LMC, rebranded this past year as it breaks off from being a subsidiary of Lennar Company, according to a company media release.

Quarterra boasts over 100 multifamily developments worth almost $9 billion, according to its website. The company owns the high-rise complex the 23 in downtown Dallas and has five other multifamily sites across Texas.

The Oak Cliff neighborhood encapsulates much of the western and southern end of the Dallas metro. A number of developers are targeting the neighborhood for new projects as city and community led initiatives look to attract mixed-income housing options.