Why One Uptown Is The Crown Jewel Of Stoneleigh Cos
Stoneleigh Cos president Rick Cavenaugh announced today that One Uptown (which topped out in June) will open in January 2017. We sat down with Rick before the Class-A 20-story tower opens (and before Rick speaks at our 2016 Development & Construction Forum event) to hear what makes the project unlike anything Uptown's seen in quite a while.
The 100-year flood Dallas got in 2014 delayed One Uptown's construction significantly. While Rick calls the weather "irritating," the delay also allowed Stoneleigh to take another look at the rapidly changing market and adapt the project accordingly. He saw what was happening with rents in other trophy projects and knew Stoneleigh needed to offer more for residents to remain at the top of the market, Rick says. After that, Stoneleigh upped One Uptown's amenities and unit finishes.
On the cross streets of McKinney Avenue and Routh Street, One Uptown's lot resembles a parallelogram more than a square. Stoneleigh used that shape as inspiration for the 198-unit tower.
Here are Jack Sovern, Philip Kingston, Paul Cheng, Rick, Peter Lloyd and Phillip Shepherd at One Uptown's groundbreaking.
Unlike a typical Uptown apartment that runs 10 to 25 stories with brick exterior, punched windows and concrete balconies in a linear building, Rick tells us One Uptown utilizes a constantly flowing façade so no part of the building is a straight line. Every way you look, the building has a distinctly different impression. Rick says the building, designed by Dallas-based Humphreys Partners, has a lot of motion.
One Uptown has two drool-worthy pools. A residents-only pool on the roof has more of a relaxation vibe with cabanas, a fire pit, grills, lounge chairs and the killer view you'd expect from any 240-foot-high rooftop in Dallas. One Uptown also has the first glass-bottomed pool in the Big D, which can be seen from a ground-level entry. The latter is accessible to the public through Osterio de Circo restaurant and has a pool bar and DJ booth (perfect for some quintessentially Uptown entertainment).
Stoneleigh isn't stopping after One Uptown. It recently closed on a construction loan for Waterford at Frisco, a multifamily property that will house 380 apartments next to Toyota Stadium in Frisco. At full build-out, the project will have 600 units. Stoneleigh is also under contract with a multifamily project at I-35 and Belt Line Road in Carrollton called the Switch Yard.
Hear more from Rick, Andrew Ord, Kevin Crum and many others at our 2016 Development & Construction Forum event on Oct. 20. Get your tickets here.