Mill Creek Announces Start of Construction on Modera Howell

Upscale Uptown Community Will Feature 190 Apartment Homes

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Apr 13, 2017, 10:03 ET

DALLAS, April 13, 2017 /PRNewswire/ -- Mill Creek Residential, a leading multifamily investor and operator specializing in premier apartment communities across the U.S., today announced the start of construction on Modera Howell, an upscale apartment community in the dynamic Uptown neighborhood of Dallas.

Mill Creek, in a joint venture with Abington Properties, recently closed on construction financing with Kansas City, Mo.-based UMB Bank. This clears the way for the start of construction at the boutique community, a six-story midrise to feature 190 apartment homes at the intersection of North Hall Street and Howell Street.

"We are ecstatic to expand our presence in the Uptown neighborhood, which is the most sought-after locale in the Dallas area," said Rick Perdue, senior managing director of North Texas for Mill Creek Residential. "Modera Howell will offer a refined living experience in a vibrant, desirable area where first-class dining, shopping and entertainment options are steps away."

The pedestrian-friendly community will offer unimpeded views of uptown and downtown Dallas. The neighborhood boasts a Walk Score of 87 (highly walkable), and the community will sit just steps away from McKinney Avenue, Uptown's most bustling street, which is home to a multitude of restaurants, retail, entertainment options and premier offices. Residents will also enjoy a serene park-like atmosphere with protected-view corridors on three sides.

The one-mile radius surrounding the community site experienced a population growth of 49 percent from 2010 to 2016 and is forecasted to increase another 10 percent by 2021. The community will be a short drive from North Central Expressway and Woodall Rogers Freeway, providing connectivity to major employment centers spanning the Dallas-Fort Worth area.

Modera Howell will consist of studio, 1- , 2- and 3-bedroom apartment homes with an average square footage of 880. Penthouse homes with rooftop terraces will be available on the top floor. Community amenities will include a rooftop amenity deck featuring a resort-inspired swimming pool, high-tech fitness studio, an interior landscaped courtyard with outdoor kitchen and dining area, a sixth-floor sky lounge with sweeping views of Downtown, luxury clubhouse with social lounge, business center and three levels of convenient below-grade parking.

"We designed this community for the discerning renter who wants to be among it all in Uptown while living in an exclusive, boutique environment," Perdue said. "Everything from the rooftop amenity deck with pool, the timeless, traditional architecture, to the walk-up homes on the ground floor were designed with today's renter-by-choice in mind. Modera Howell will truly be a differentiated offering in the marketplace."

Apartment interiors will feature sophisticated upscale finishes, nine- and 10-foot ceilings, spacious walk-in closets, full-size front-loading washers and dryers, plank-style flooring, quartz countertops, stainless steel appliances, and premium 42-inch cabinetry. Select homes will have private patios or balconies, rooftop terraces, soaring double-volume living areas, walk-in showers, double vanities, powder baths and linen closets.

Mill Creek Residential is one of the most active multifamily developers in the Dallas-Fort Worth market with four communities under construction and another in lease-up. Including Modera Howell, Mill Creek has developed or acquired more than 2,150 apartment homes in the Dallas area.

About Mill Creek Residential
Mill Creek Residential Trust LLC is a national multifamily company focused on the development, acquisition and operation of apartment communities in targeted markets nationwide. The company proactively pursues development, acquisition and construction opportunities through its seasoned team of real estate professionals in 14 offices across the United States. Mill Creek is building its portfolio in many of the nation's most desirable apartment markets in Seattle, Portland, the San Francisco Bay area, Southern California, Denver, Dallas, Austin, Houston, South Florida, Tampa, Orlando, Atlanta, Washington, D.C., New Jersey, New York, and Boston. As of December 31, 2016, the company's portfolio comprises of 63 communities representing over 17,500 apartment homes that are operating and/or under construction. For more information, please visit www.MillCreekPlaces.com.