Ilume has acquired the large vacant lot across Cedar Springs to the north and west, which once was home to the Douglas Park and 4242 Cedar Springs apartment complexes. According to the press release that I’ve posted after the jump, ilume developer the Crosland Group plans a 240-unit expansion on the 3.88 acres. We’ll have more in Friday’s Voice.
ilume™ ACQUIRES LAND FOR EXPANSION AHEAD OF SCHEDULE
Developer The Crosland Group Readies to Build Phase Two of Innovative GLBT Resort-Lifestyle Community
DALLAS, TX, April 13, 2010 – In the wake of the successful launch of its first Ilume™, a Proud Community™ concept development, The Crosland Group announced today the completed acquisition of an adjacent 3.88 acres plot of land, which is planned for a 240 unit expansion of ilume. The acquired land had previously been home to two defunct apartment complexes that were recently demolished.
“Having designed and developed a boutique, creatively amenitized, environmentally and community conscious facility, our members have responded with a lease-up rate far exceeding the current market average” said Luke Crosland, chairman and CEO of The Crosland Group. “ilume has re-energized and ‘iluminized’ the Cedar Springs Entertainment District and we are proud to part of the Dallas GLBT community.”
In addition to its 316 apartments and 7,000 square feet of luxury amenities, ilume is home to retailers and businesses; including the North Texas GLBT Chamber, Beyond the Box, Red Mango and the awardwinning DISH restaurant. A number of new tenants are set to be announced with nearly all of the 23,000 square feet of commercial space leased or committed.
“We have the best mix of retail tenants at the property that cater to the needs of the community and we are committed to providing the most unique and high quality experience in Oak Lawn,” said Ryan Baldwin, president of the ilume management company. “Plans are underway for the launch of our first full Summer at ilume which includes a full-service eatery pool-side for the resident that chooses not to bring their own food and beverage with them.”
About The Crosland Group
Based in Dallas, TX and founded in 1975, The Crosland Group is an investment builder of income producing properties through related entities active on a regional basis. Projects have been produced throughout the United States, including Tennessee, South Carolina, Maryland, North Carolina, Florida, Texas, Arizona, Colorado and California. These projects have included free standing retail facilities, warehouses, regional shopping centers, industrial parks, office buildings, luxury apartments, condominium towers and residential sub-divisions.
ilume™, the first Green Built North Texas building in Dallas, is a five-story, self-contained development housing 316 luxury apartments and 23,000 square feet of retail space that includes cafes with bar and outdoor patio seating, restaurants, essential shops as well as service retail and lifestyle shopping. The complex offers front door parking, two-way drive-thru and direct accessibility to the garage as well as valet services. Residents are offered over 7,000 square feet of boutique hotel quality amenity space; including chandeliered lobby with concierge, game lounge with Poker / Wii Room, a signature Champagne Lounge, Great Room, business center with WiFi, fitness center, yoga/spin room, pet grooming facility and tanning room. For more information, please visit, www.ilumedallas.com.