ADDISON, Texas — This article was originally published by our content partners at the Dallas Business Journal. You can read the original article here.
A powerful multifamily developer plans to demolish an Addison shopping center and incorporate the eight-acre site into an upcoming residential and retail project.
Chicago-based AMLI Residential Properties LP confirmed to the Dallas Business Journal that it aims to start demolishing the Midway Square Shopping Center at 14833 Midway Road as early as the first quarter of 2025. The land will then become part of the AMLI Treehouse development under construction next door.
The company closed on its purchase of the shopping complex on Aug. 29. It did not disclose financial details. The land was most recently appraised for tax purposes at $993,600 by Dallas Central Appraisal District, although such values are typically below market value.
Younger Partners' Ben McCutchin and Sam Kartalis brokered the deal and represented both AMLI and the seller, VVI Inc.
Demolition of the shopping center will allow the national apartment owner and developer to construct 12,500 square feet of retail, 3.7 acres of green space, 16 rental townhomes, 26 for-sale townhomes and 165 luxury apartments for its AMLI Treehouse project. The mixed-use development is scheduled to welcome its first residents in the first half of 2026 and will consist of 570 apartments, 30 rental townhomes and 56 for-sale townhomes once it's completed, which is slated for July 2027. Four heritage live oak trees were saved and relocated on the property.
The Midway Square Shopping Center was developed in the 1980s and over the decades housed restaurants and bars such as Jaxx Steakhouse and the Midway Point. The retail space became increasingly harder to maintain in 2020, and the owner decided the property would better suit the neighboring AMLI Treehouse development, according to brokers.
"Redevelopment of Midway Square unlocks numerous community benefits and completes the town’s vision for the burgeoning Midway South neighborhood," Robert Lapp, vice president of development at AMLI Residential, said in a statement. "The mixed-use community will offer plentiful green space, desirable destination retail and outstanding housing choices."
Established in 1980, AMLI Residential is owned by PRIME Property Fund, a real estate fund managed by Morgan Stanley. The firm manages and owns 78 apartment complexes across the country, includes multiple sites in Dallas-Fort Worth. Earlier this year, the firm doubled its office footprint at Addison's Liberty Plaza.
