High Street Residential and Tokyu Land Corporation Break Ground on 281-Unit Multifamily Community in Richardson, Texas

High Street Residential (HSR), the residential subsidiary of Trammell Crow Company, and joint venture partner Tokyu Land Corporation have broken ground on a 281-unit multifamily development in Downtown Richardson, Texas, a northern suburb of Dallas. The four-story project, located at 110 E. Polk St., is expected to be delivered by the fourth quarter of 2027.

Project Overview and Site Details

The luxury apartment community will occupy approximately 3 acres in Downtown Richardson, one block south of East Main Street. The development will replace two existing buildings and a surface parking lot. Unit offerings will range from studios to two-bedroom floor plans, spanning 590 to 1,340 square feet.

Planned community amenities include a clubroom, co-working areas, a resort-style pool, grilling stations, fire pits, a fitness center, bike storage, a dog-wash station, and a package room. The property will also offer direct access to the 4.2-mile Central Trail and will be within walking distance of restaurants and retail shops along East Main Street.

WDG Architects designed the project, while Andres Construction will serve as general contractor. Additional project partners include Urban Structure as structural engineer, V3 Consulting Engineers as MEP engineer, Spiars Engineering as civil engineer, TBG Partners as landscape architect, and Ellie Aiello Interiors as interior designer.

Joint Venture Structure and Investor Commentary

The project is structured as a joint venture between HSR and Tokyu Land Corporation. Financial terms of the joint venture were not disclosed.

"We are pleased to partner with High Street Residential on this thoughtfully designed community in Downtown Richardson," said Ben Cherney, Executive Vice President of U.S. Investments at Tokyu Land US Corporation. "Led by Ariel Mark and the West Coast investment team, this investment underscores Tokyu Land's long-term commitment to partnering with best-in-class developers to deliver high-quality residential communities across targeted U.S. growth markets. Richardson's strong economic fundamentals, diversified technology-driven employment base, and continued investment in downtown infrastructure position it as a highly attractive location for this development."

Kevin Hickman, a principal with HSR in Dallas, commented on the project's role in the broader downtown area. "We see this project as a catalyst for the future of Downtown Richardson. It will build on the existing momentum, bringing new energy and investment to the heart of the city," Hickman said. "We're proud to partner with the city and the community in this next chapter of Downtown Richardson's evolution."

Public Financing and Infrastructure Upgrades

The City of Richardson has provided Tax Increment Financing (TIF) support for the project. The TIF funding is designated to deliver key public infrastructure upgrades, including the reconstruction of Polk Street to include new bike lanes, sidewalks, and street parking. The financing will also support the development of a new public green space and provide 75 public parking spaces within a shared garage.

"Downtown Richardson is experiencing a dynamic transformation that is making it an increasingly vibrant place to live, work, and gather," said Richardson City Manager Don Magner. "We are proud to welcome High Street Residential and Tokyu Land Corporation to our community. Their commitment to delivering a high-quality multifamily development aligns perfectly with our vision for downtown and represents exactly the type of investment we are working to attract."

HSR's North Texas Multifamily Pipeline

The Richardson groundbreaking adds to a pipeline of multifamily development activity that High Street Residential is pursuing across North Texas. The firm currently has four other active multifamily projects underway in the region.

Earlier in 2026, HSR broke ground on a 394-unit apartment community integrated into the Dallas Area Rapid Transit's SMU/Mockingbird Station in Dallas, with delivery targeted for the end of 2027. In summer 2025, the company broke ground on a 425-unit project in Frisco, as well as the 434-unit Crestview Apartments and 102-unit Crestview Townhomes in Allen. The firm also recently topped out The Lora, a 27-story, 186-unit luxury high-rise in Uptown Dallas.