Wood Partners, the Atlanta-based apartment developer that a decade ago was a partner in the redevelopment of the historic Texas & Pacific rail terminal building on Lancaster Avenue on the southern edge of downtown, has bought land in the Left Bank development on West Seventh Street.
Wood Partners bought 14.27 acres from Centergy West 7th L.P., an entity of Dallas-based Centergy Retail, on Aug. 21, according to deed records.
The land takes up nearly half the site, where plans also call for a hotel, shops and restaurants, and a grocery store.
Todd McCulloch, development director in Wood Partners’ Dallas office, did not respond to a message seeking comment on the plans.
Centergy President West Miller also did not respond to a message.
Centergy bought the property, which is west of the Trinity River in the bustling West Seventh Street corridor, from Chesapeake Land Co. in 2013. It is on the north side of West Seventh Street between the Fort Worth & Western Railroad tracks and the west bank of the Trinity River, up to about Kansas Street.
The development is also expected to have a public square and a promenade on the river levee. As of a year ago, the grocery store was to take about 50,000 square feet of the planned 100,000 square feet of retail space. The first phase of the residences was to include about 600 units to open in fall 2016, Miller said about a year ago.
Wood Partners partnered with Renaissance Development Co. in Fort Worth on the T&P Lofts. It also developed Alta Ridglea Village in 2003 and owns apartment properties in Euless and North Richland Hills and manages several others in the Metroplex and elsewhere in Texas.
It is building the 226-unit Alta Yorktown in west Dallas, at Yorktown Street near Sylvan Avenue, according to reports.
During the past 15 years, Wood Partners has been involved in the acquisition and development of more than 53,000 homes with a combined value topping $8.3 billion.
The company currently owns more than 75 properties with about 21,000 units.