The 5550 LBJ mixed-income apartments in North Dallas are going up where three vacant office buildings used to sit. High Street Residential, the residential arm of Trammell Crow Company, started construction in October 2026 on a 435-unit community at 5550 LBJ Freeway, with half the units set aside as affordable under a Dallas Public Facility Corporation structure. OHT Partners is the general contractor and WDG Architecture designed it.
It started life as a conversion. When Dallas City Council approved the deal in April 2025, the plan was to turn a vacant 10-story office tower into about 399 apartments. The version under construction scraps the office buildings instead and keeps only the parking garage.
Project Scope
The project covers about 5.4 acres of an 8.6-acre redevelopment site just south of I-635 between Noel Road and Montfort Drive. Two new residential buildings, one five stories and one seven, wrap and connect to the existing structured garage, which gets upgraded rather than demolished. The unit split is 217 market-rate and 218 affordable.
Amenities include a clubroom, co-working space, sports lounge, resort-style pool, fitness center and a seventh-floor sky lounge.
Urban Structure is the structural engineer, Schmidt & Stacy handles MEP, Kimley-Horn is civil engineer and TBG Partners is landscape architect. Ellie Aiello Interiors did the interiors. Acram Group is co-general partner, Parse Capital supplied preferred equity and Bank OZK is senior lender. Completion is expected by summer 2028.
Why It Matters
Dallas has pushed office-to-residential conversions hard, and this project shows where that math breaks. Suburban office floor plates along LBJ are deep, and parking-heavy office campuses rarely translate cleanly into apartments. Here the developer kept the one piece that pencils, the garage, and built new around it.
The PFC structure is doing the heavy lifting. The Dallas PFC acquires, develops and owns the property and leases it to High Street for 75 years, and NBC 5 reported in 2025 that the arrangement lets the developer skip about $2.2 million a year in property taxes. In exchange the city gets 218 income-restricted units in a job-rich corridor. Texas PFC deals have drawn scrutiny over how much affordability that exemption buys. A 50% affordable split is on the generous end.
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Project Team & Details
| Developer | High Street Residential (Trammell Crow Company), with co-GP Acram Group |
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| Owner / Client | Dallas Public Facility Corporation |
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| Architect | WDG Architecture |
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| Consultants | Urban Structure (Structural Engineering)
Schmidt & Stacy (MEP Engineering)
Kimley-Horn (Civil Engineering)
TBG Partners (Landscape Architecture)
Ellie Aiello Interiors (Interior Design) |
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| General Contractor | OHT Partners |
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| Status | Under Construction |
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| Funding Source | Public-Private Partnership (P3) |
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