StreetLights Residential announced that The Galatyn – its newest luxury high-rise development in Dallas – is now accepting inquiries.

Rising 20 stories and offering 56 stately crafted residences, including two penthouses, The Galatyn is located in the prestigious Upper McKinney District where Harvard Avenue meets Highland Park. Adjacent to its sister property, The McKenzie, The Galatyn provides a boutique residential experience with an emphasis on privacy, service, and timeless design. Ideally positioned just one block from the Katy Trail and within walking distance of premier dining, luxury retail, and the highly anticipated Tres Market specialty grocer, The Galatyn is slated to open in late 2025 and is poised to redefine high-rise living in Dallas.

Designed to evoke the grandeur of a private estate, The Galatyn offers two- and three-bedroom floorplans averaging 2,700 square feet, with penthouse residences spanning over 4,500 square feet. Each floor will house only three residences, ensuring privacy and exclusivity, while the penthouse level features just two expansive homes.

Thoughtful layouts include formal foyers, light-filled living areas, and custom-designed kitchens equipped with Monogram appliances, waterfall islands, wet bars with wine fridges, and dedicated private service kitchens for effortless entertaining. Expansive outdoor terraces, seamlessly integrated into the residences, extend the living space outdoors, offering a tranquil retreat above the city. Primary suites boast spa-inspired bathrooms and spacious custom closets, completing the sense of refined living.

Residents will experience an unparalleled suite of amenities, including a full-service concierge and white-glove valet, a coffee and cocktail bar, and a variety of intimate and communal workspaces. A conservatory-style courtyard with a greenhouse, complete with a fireplace and poolside views, offers a tranquil escape in the heart of the city. The state-of-the-art fitness center features a flex studio and an infrared sauna, while the private resident pool lounge with catering kitchen creates the perfect setting for entertaining. Thoughtfully integrated pet-friendly amenities include a dedicated dog wash and convenient pet relief stations on every residential floor.

StreetLights Creative Studio is the architect and interior designer of record for the project. SLR Construction, LLC, is the general contractor.

The NRP Group opened a 324-unit, mixed-income housing community in Dallas, Texas.

Ascent at Mountain Creek is just 15 minutes outside of downtown Dallas, with 50% of the units reserved for individuals and families earning 80% or less than the Area Median Income (AMI).

Located at the intersection of Highway 408 and I-20, Ascent at Mountain Creek offers scenic views of rolling hills and considerable green space and is less than 10 miles from Mountain Creek Lake. The community is also in close proximity to the 450-acre Mountain Creek Business Park, home to companies such as Nestlé, Ulta Beauty and Chewy. Everyday conveniences such as Target, Home Depot and the Methodist Charlton Medical Center are just a 10-minute drive away, along with recreational venues such as Epic Waters Waterpark and Grand Oaks Golf Club. Residents will also have access to ample retail and dining options, as well as major employment hubs in downtown Dallas.

The newly delivered community at 4868 S. Merrifield Road comprises 14 three-story, wood-frame buildings offering a mix of one-, two- and three-bedroom apartments. To meet resident demand for larger units that accommodate work-from-home preferences, den floor plans for one- and two-bedroom units are also available. In-unit features include quartz countertops, backlit mirrors, stainless steel appliances and walk-in closets. Residents can enjoy a variety of community amenities, including a resort-style pool, dog park, state-of-the-art fitness center with a spin room and clubhouse lounge.

BY HUNTER LANE, VICE PRESIDENT, LANE PROPERTY TAX ADVOCATES

Natural disasters make headlines increasingly often these days — everything from hurricane-force winds dealing widespread power outages to wildfires that decimate all in their path. Effects aren’t limited to those directly impacted by wild weather. Long after communities resume business as usual, commercial property owners grapple with higher costs related to property assessments, insurance and taxes.
Understanding how disasters impact property values — and how to fight back — can play a crucial role in keeping a business viable. Let’s explore what today’s commercial property owners should know to safeguard their investments. The Link Between Natural Disasters and Property Assessments The financial toll of extreme weather extends beyond physical damage. Natural disasters can have significant impacts on commercial property market values across a region. For properties in a storm’s path, resulting damage often renders a building temporarily unusable while necessitating costly repairs. Although this can decrease a property’s market value, it takes time before a tax assessment catches up to a property’s true condition — if it ever does catch up. The mass appraisal systems used by most county appraisal districts (CADs) often result in inaccurate valuations, leaving owners of damaged properties paying more than what is rightfully owed.
Undamaged properties can also experience seismic shifts due to economic and real estate trends. Businesses that close or relocate following a disaster reduce commercial occupancy rates, for instance, lower tenant demand and can drive rental income and market values down. Conversely, undamaged areas may attract businesses and residents, driving demand and property values up. In both instances, storm-related impacts result in assessments out of line with a property’s actual condition, performance and value. Additionally, insurance costs often rise in disaster-prone regions. Higher premiums add financial strain, and if taxing entities don’t account for them in assessments, property owners may overpay.

Protecting Affordability in a Changing Climate
With scientists’ expectation that the uptick in extreme weather events will continue, it’s crucial for commercial property owners to protect their financial health. Protesting inaccurate commercial property assessments annually is the best way to keep valuations in check. Here’s how it works.
• Filing: Alert your local CAD of your intent to protest your commercial property taxes. Texas’ filing deadline is May 15.
• Informal Hearing: You or the firm representing you meet with a CAD appraiser to negotiate a lower assessed value. You may reach an agreement then and there.
• Formal Hearing: If the informal hearing fails to yield an agreement, your protest moves on to a formal hearing before an appraisal review board (ARB). You or your firm and the CAD’s appraiser will present arguments, and the ARB will render a decision.
• Arbitration or Litigation: If the ARB’s decision fails to yield the desired result, you have 60 days to begin arbitration or litigation. Your exact path will depend on factors such as your property’s assessed value. Arbitration is a more informal approach akin to mediation, while litigation efforts have the potential to move on to trial.

Why Partner with a Property Tax Firm?
Commercial property tax protests are complex, deadline-driven processes, and success hinges on having a comprehensive argument backed by data. Working with an experienced firm can improve your chances of success. Consider these factors when choosing a property tax firm:
• Local Knowledge: A firm with deep knowledge of your region’s tax laws, market conditions and economic trends is better positioned to advocate for a fair assessment. In addition, established relationships with taxing authorities provide a local firm with insights they can use to position your case for success.
• Transparent Fee Structures: Work with a firm that’s open about when and how you’ll be charged. Although many companies work on a contingency basis, meaning you don’t pay unless they lower your assessed value, filing fees and similar charges can result in costly surprises.
• Diverse Experience: Seek out a firm whose prior work spans a wide range of property types, sizes and scenarios. They can address it all because they’ve seen it all.

Even with a professional firm handling your protest, you play a key role in the process. Engage your team early, so they have plenty of time to build your case, and be prompt when providing data, documentation or proof of damage. Respond quickly to calls, emails or requests to ensure you’re on the same page and working toward a common goal.
As extreme weather events become increasingly common, commercial property owners must be proactive in safeguarding their financial health. Understanding disaster-related tax challenges and contesting unfair assessments ensures you pay only what’s fair — helping you weather any financial storm.

Pearlstone Partners has officially broken ground on The Belvedere, a luxury condominium development in west downtown Austin, Texas, while securing a $154.5 million loan from Benefit Street Partners to bring the project to life.

Slated for completion in August 2027, The Belvedere will redefine luxury urban living, offering 158 residences with unparalleled amenities and direct access to the Butler Hike-and-Bike Trail.

Groundbreaking Marks a New Era for Downtown

On March 25, Pearlstone Partners hosted the official groundbreaking at 300 Pressler Street, celebrating the beginning of this project. The final three building development will be 299,373 square feet of thoughtfully designed residential and commercial space, introducing a new standard of upscale living to the city. “We are thrilled to bring The Belvedere to life, a project that blends thoughtful design, luxury and connectivity to Austin’s vibrant urban landscape,” said Bill Knauss, CEO of Pearlstone Partners. “This development reflects our commitment to creating exceptional living spaces that enhance the community while offering an unparalleled lifestyle.” Designed by KTGY with interiors by Kim Lewis Designs, The Belvedere will offer a three-acre urban green space, enhancing downtown’s natural landscape and providing a seamless connection to outdoor recreation. “The Belvedere applies thoughtful design and architecture to create spaces that add value to the surrounding city, offering a unique level of luxury and activation to West Downtown Austin,” said Ray Tse, Principal at KTGY. “We are grateful for our partnership with Pearlstone Partners to bring this development to life in a way that will elevate the community and redefine luxury living.”

$154.5 Million Loan Secured to Fund Development

Pearlstone Partners has secured a $154.5 million construction loan from Benefit Street Partners, ensuring the successful delivery of The Belvedere. “Partnering with Benefit Street Partners has been an essential part of making The Belvedere a reality,” said Chris Zaiontz, Pearlstone President. “Their support and confidence in our vision have allowed us to move forward with this exciting project, and we couldn’t be more grateful for their collaboration.” As part of the project, Pearlstone is investing $1.5 million into a park on The Belvedere lawn, including upgraded sidewalks, new bikeways and improved public access, promoting outdoor recreation and connectivity within the community. “We are excited to support the development of The Belvedere in Austin, a city renowned for its dynamic growth and vibrant community,” said David Elgart, Managing Director at Benefit Street Partners and lead banker on the project. “This project is the result of a strong collaborative effort, and we appreciate the vision and expertise of Bill Knauss and Chris Zaiontz at Pearlstone Partners, whose dedication has been instrumental in bringing The Belvedere to life.”

Key Details and Luxury Amenities 

The Belvedere’s residences—ranging from one- to three-bedroom condominiums—will offer an exclusive array of amenities, including a lap pool, resort-style pool, on-site restaurant, coworking spaces, 24-hour concierge services, fitness studios, pet lounge and grooming station, theater room, residential lounge, and direct access to the Hike-and-Bike Trail.

Marcus & Millichap facilitated the sale of Ashton, a 152-unit apartment community in Saginaw, Texas.  

Ford Braly, first vice president, along with Al Silva, senior managing director investments, and Dylan York, associate, all based in Marcus & Millichap’s Fort Worth office, exclusively marketed the property on behalf of the seller, a private out-of-state investor, and procured the buyer, an experienced local operator. 

The buyer plans to make select improvements to the property and capitalize on the limited competition in Saginaw’s class B multifamily housing market.

Built in 1984, Ashton is a 15-building community spanning nearly eight acres at 681 N. Saginaw Blvd. It offers one- and two-bedroom apartments with private patios or balconies, walk-in closets and fireplaces. Residents have access to a clubhouse, swimming pool, dog park and barbecue grilling stations. Recent upgrades include renovated unit interiors, an updated leasing office and enhancements to shared amenities. 

It seems like major retailers are closing their doors every day. Earlier this year, Joann announced that it would close all its fabric stores, while both Kohl’s and Macy’s announced their own round of closings.

That doesn’t mean that all retailers are struggling. In fact, the retail sector has shown impressive resilience, even while facing an uncertain economy.

For proof, consider Northmarq‘s first quarter 2025 The Top 100 report. This report lists U.S. retailers that are expanding their locations rapidly. It’s a reminder that while some retailers are shutting down, others continue to grow.

Which retailers are performing well in Northmarq’s latest Top 100 report?

T.J. Maxx, Marshalls and HomeGoods continue to lead off-price retail by targeting middle-market shoppers, Northmarq reports. These three stores will open 70 locations in 2025. The company also has plans to double the number of HomeGoods stores and reach a global total of 7,000 locations across all three brands.

Five Below, popular among Gen Z and Millennial shoppers, plans to open 150 new stores in fiscal year 2025, with 50 of these locations opening in the first quarter, according to Northmarq. The discount retailer hopes to eventually reach 3,500 total locations.

Burlington is now focusing on smaller-format stores, Northmarq reports. The retailer plans on opening 100 new locations in 2025 and has a long-term goal of 500 new locations by the end of 2028.

Ross Dress for Less is continuing its steady growth by planning 80 new stores during this fiscal year, with a long-term vision of reaching 2,900 total locations, Northmarq reports.

Then there’s Ollie’s Bargain Outlet, which plans to open 75 new locations in 2025. Northmarq says that Ollie’s is targeting underserved markets.

Retail giants are also growing, with Northmarq pointing to Walmart, which plans to open 150 new U.S. stores in the next five years and remodel hundreds more.

Grocery chain Aldi plans to open 225 new locations across the United States in 2025 while striving for 800 new total stores by the end of 2028. Northmarq says that these new locations will generally target suburban and rural markets.

Northmarq says that Dollar General plans to add a whopping 595 new locations this fiscal year. This brand, too, is targeted underserved areas, especially in rural locations.