Site preparation has begun on Vitruvian Park, a billion-dollar multifamily, retail and commercial development commencing construction in Addison, Texas, a growing community adjoining the north side of Dallas. The 99-acre sustainable green initiative is a public/private partnership under development by UDR, Inc. It is located approximately one mile north of I-635/LBJ Freeway between Midway Road and Marsh Lane in Addison's southwest quadrant.
Andres Construction has been selected as the general contractor for the Vitruvian Park project. The first phase is currently designed to feature 667 multifamily housing units and a 12-acre public park. All phases of Vitruvian Park are expected to be completed in 2017.
Vitruvian Park introduces a new green-initiative program created by the town of Addison that is the city's own hybrid of Energy Star and Leadership in Energy and Environmental Design (LEED) standards. These standards will be included in all of the 5,500 dwelling units and 300,000 square feet of office and retail space throughout Vitruvian Park. UDR, Inc. will also recycle much of the waste from the demolition, as well as utilize recycled materials in Vitruvian Park's construction. The company expects to pursue LEED certification for the project.
Named after Vitruvius, the renowned Roman architect, Vitruvian Park is designed to embrace his concept of designing to human scale. Vitruvian Park's residential and commercial district will feature both public and private amenities including lush landscaping, a spring-fed creek, other expansive water features with bridges to encourage pedestrian traffic, an amphitheater, and a broad array of shopping and services within easy walking distance.
UDR, Inc., an S&P 400 company, is a leading multifamily real estate investment trust (REIT) that manages, buys, sells, develops and redevelops attractive real estate properties in targeted U.S. markets.