Beacon Hill apartments have recently been purchased. (Photo courtesy of Mitchell Voss.)
There are some changes coming to Lake Highlands. With new development also comes the purchases and sales of properties in the neighborhood. Here are some updates:
Lake Highlands Village, home of Tom Thumb and neighborhood favorite BrickHouse Burgers, has recently sold to JAH Reality LP. The retail center located at 9090 Skillman St. and Audelia Road includes three buildings totaling 100,000 square feet.
The new owners plan to re-merchandise the 50,000-square-foot retail building, which is currently 50% occupied. And the vacant office building will be reworked, according to Dallas News.
The Beacon Hill and Vineyards at the Ranch apartment complexes have also been sold to Dallas-based investors, WindMass Capital Partners.
The apartments near Skillman Street and Interstate 635 include 1,656 apartment units.
“They were built between 1984 and 1987,” Mitchell Voss, WindMass Capital founder and CEO, told Dallas News. “We want to renovate and are already starting to work with the neighbors around us to make the area better.
The apartment properties are about 80% and 90% occupied.
“There is a lot of demand for renovated Class B apartment units,” Voss told Dallas News. “We are not coming in to kick everyone out. We are coming in to create places for people to live that are nice and affordable.”
These real estate updates could be a sign of change in the neighborhood, what do readers think?
