First $250 Million Luxury Tower Coming to Dallas Soon

Posted by on Friday, December 19th, 2014 at 10:57am

Construction

Dallas residents are excited about the first $250 million luxury tower coming soon to the city. The Mehrdad Moayedi’s first $250 million luxury high-rise tower has been a work in progress and one of its towers has taken longer to finish than expected but the developer feels it should be worth the wait. The Residences of the Stoneleigh will be at the southwest corner of Maple Avenue and Wolf Street behind the hotel. Here is a look at what you can expect from the $250 million tower coming soon to Dallas.

About the Tower

President of Carrollton-based Centurion American Development Group, Mehrdad Moayedi, told the Dallas Business Journal that while it took a while to complete, he thinks it was done right. Invited guests have had a chance to explore the tower which is a 22-story condominium project. The goal of the project was to make something that would stand out, stay around for a while and to take as much time as was needed to do it right.

The building will contain about 70 residences which are going to be custom built by custom home builders. Some of the companies that will be working on this are Crescent Estates Custom Homes who is affiliated with Centurion and Mickey Sharif’s Dallas-based Sharif Munir Custom Homes. Yates Construction was hired as the general contractor of the overall project.

Inside the Tower

Average homes inside the tower will be around 3,500 square feet. Many homeowners plan to buy double units or do other things to enlarge their square footage. They will cost $350 to $800 per square foot depending on the build-out customization of the home.

The Dallas Design Group has come up with the design of the common rooms and interior within the tower. They designed the following common areas:

  • Workout facility with sauna and steam rooms
  • Conference room
  • Game room
  • Theater room
  • Bar area
  • Lobby
  • Full kitchen
  • Dining room for 100 people
  • 30,000sq.ft. park with infinity pool, cabana area and hot tub

Right now, the tower has about 25-30% occupancy with a great clientele moving in.

The Residences of the Stoneleigh is an exciting addition for Dallas.

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