One Uptown – Candy’s Dirt

Luxury Apartment Building One Uptown Celebrates Topping Out

Candy’s Dirt | Joanna England | June 3, 2016

It seems as if the Uptown apartment market is about to get even more lofty perches, as One Uptown celebrated its “topping out” yesterday. The shindig, which attracted a throng of industry insiders, real estate aficionados, and media was the official unveiling of the high-rise’s marketing center with bites from Fogo de Chao and Style & Grace, cocktails, and life music, including remarks from Rick Cavanaugh, CEO of developer Stoneleigh Companies.

“Considering the premier location of our project, we feel it’s appropriate to brand the iconic tower in accordance with our address in the heart of Uptown,” Cavanaugh said. “We have seen what a remarkable and inclusive community Uptown is and we are proud to be a new neighbor. We want our identity to reflect that sentiment and commitment to the City of Dallas.”

Stoneleigh Companies’ 20-story mixed use luxury high rise is slated to open Fall 2016 and is already one of the most architecturally striking buildings in the Uptown neighborhood. The development includes 198 luxury apartments, 18,800 square feet of restaurant space, and a 480-car underground parking garage. One Uptown will represent the best-in-class residential high-rise rental building in Dallas with its modern elegant architecture, its unsurpassed amenity offering and its premier location.

The all glass building was designed conceptually by famous Dallas architect Phil Shepard. One Uptown’s modern architecture leverages its unique site plan by employing a graceful curve throughout its façade and will become the architectural achievement for residential high-rise buildings in Dallas.

Carrollton – The Dallas Morning News

Transit-oriented apartment project to be built in downtown Carrollton

The Dallas Morning News | Steve Brown | June 3, 2016

A developer building one of Uptown’s newest apartment towers is headed to the ‘burbs with a transit-oriented development.

Stoneleigh Cos. is just months away from finishing its 20-story One Uptown apartment high-rise on McKinney Avenue in Uptown.

Now Stoneleigh has tied up a building site next to downtown Carrollton’s DART commuter rail station for another apartment development.

“It’s going to be 230 apartments right at the corner of Belt Line and Interstate 35,” Stoneleigh CEO Rick Cavenaugh said. “It’s a no-brainer – you step out the front door and you walk right next door to the DART station.”

The 4-acre site is vacant and controlled by Realty Capital of Arlington. Cavenaugh said Stoneleigh has formed a partnership with the owner to build a 4-story rental community on the land.

“We are going to try and start construction by the first of the year,” he said.

Stoneleigh’s project will be the second urban-style apartment community developed adjacent to the downtown Carrollton DART stop.

Developer High Street Residential built the 311-unit Union at Carrollton Square starting in 2012. That project was purchased in 2014 by Fort Worth-based Olympus Property.

The Carrollton apartment project is one of a handful of developments Stoneleigh is working on in North Texas.

The firm is also about to start a rental community in the Frisco Fresh Market development on Main Street in Frisco.

“We are going to break ground in July on the first 380 units,” Cavenaugh said.

Stoneleigh also has a development site on Chisholm Trial Parkway in southwest Fort Worth.

One Uptown – Dallas Business Journal

An inside look at Dallas’ luxury $75M One Uptown tower

Dallas Business Journal | Candace Carlisle | June 3, 2016

Rick Cavenaugh still remembers the day he and his business partner acquired the former Hard Rock site to develop the wavy-designed building, One Uptown.

“We have been looking at this site for a year-and-a-half and the guy from Midland that wanted to build a night club called Paul on a Saturday morning and by noon on Monday, we had it under contract,” Cavenaugh, president of the Illinois-based Stoneleigh Cos. LLC, told the Dallas Business Journal during an exclusive hard-hat tour of the now 20-story tower.

“We knew we wanted the site for this project,” he added. “We got it going and it was a very quick decision.”

It was that parcel of land — which sits at an odd parallelogram angle on the corner of McKinney Avenue and Routh Street — that inspired the wavy exterior design of One Uptown, which has officially reached its uppermost vertical point that was solidified by a topping out ceremony Thursday.

“We didn’t want just a square box on the corner, but one with a graceful flow that goes up the building,” Cavenaugh told the DBJ. “It makes for a strong statement of the building, which the site demanded the structure to be.”

Cavenaugh and his investors closed on the land in April 2013. It took some time to rezone it for a denser use, which allowed for the 20 stories of height for the residential portion of the tower and two restaurants: Style & Grace and Fogo de Chao.

Style & Grace, which is an affiliated concept with Fat Rabbit across the street, will have an outdoor patio facing McKinney Avenue and Routh Street, with a second-floor bar area that includes a glass-bottomed pool that sits above the entrance.

Fogo de Chao will have an entrance between Style & Grace and the lobby of the residential tower.

“You will only have access to the pool through the restaurant, but I expect our residents will come to relax here after work and there will be a residents-only pool deck on the roof,” Cavenaugh said.

Each restaurant, as well as the residential tower, is expected to move into the building this fall. Originally, the development was slated for completion in July, he said, but heavy rain over the past two years during the spring delayed the project four months.

The glass facade tower’s wavy design will be further augmented by programmable LED lighting that is designed on every floor, in slightly different places, of the building, giving the illusion of movement.

Along with 26,160-square-feet of restaurant space on the ground level and second story of the building, One Uptown will include 198 market-rate apartment homes. The luxury apartments are expected to hit the market at $3 per square foot, with penthouse units on the 17th, 18th and 19th floor expected to lease for a premium.

Upon completion, One Uptown will have an amenity tower for residents, which will include a pool deck, fire pit and lounge area, and outdoor grilling station and a club room with a kitchen and wet bar. Residents will have access to a private fitness room, valet parking, and a 24-hour concierge service.

Hunt Construction Group is the project’s general contractor. Dallas-based Humphreys & Partners is the tower architect.

All in, One Uptown is expected to cost more than $75 million to construct. Cavenaugh gave the Dallas Business Journal a tour of the developing tower. Want to see its progress? Check out the attached slideshow.