A Florida-based real estate company known for luxury condominiums has acquired a tract near the bygone Oak Farms Dairy in Oak Cliff.
Related Group purchased 8 acres of land on Interstate 35, adjacent to the Trinity River and Downtown Dallas.
The site has been undeveloped since it was home to Oak Cliff’s minor-league baseball stadium, known as Burnett Field when it closed in 1964.
Dallas-based Cienda Partners previously owned the property and has been working on this deal with Related for a year, according to the Dallas Morning News.
Related plans more than 400 apartment units on the site, and the zoning allows buildings as high as 20 stories.
The company was founded in 1979 by Jorje Pérez, whom the media has often referred to as the “condo king” of South Florida, and it is now under the leadership of a second generation of condo kings. Related opened a Dallas branch in 2017.
Here’s how the company describes itself on its website:
Since 1979, Related Group has enhanced skylines with iconic developments characterized by innovative design, enduring quality and inclusive living. Through groundbreaking partnerships with world-renowned architects, designers and artists, Related has redefined urban environments on a global scale, fostering distinctive, dynamic communities and symbolic landmarks that have become sources of local pride. To date, Related has built and managed more than 100,000 condominium and apartment residences that are meticulously designed with finishes and amenities that transform buildings into vibrant residential environments. Related doesn’t just create neighborhoods…it builds legacies.
Related Group’s recent developments include several high-rise apartment buildings under the brand Icon.
The 28-story Icon Midtown in Atlanta landed Whole Foods as a tenant in 2019.
Cienda Partners recently attained $25 million in financing for its own project on the site of the former Oak Farms Dairy. The deal with Related Group has spurred “a lot of inquiries” about that project, and it “opens up a lot of possibilities,” a partner told the newspaper.
