Preston and Alexis Phase II

Preston and Alexis Phase II is a new multifamily building project located at the intersection of Preston Road and Alexis Drive in South Dallas. The development is registered with the Texas Department of Licensing and Regulatory Affairs (TDLR) under an estimated cost of $34,000,000. The structure spans 476,044 square feet, resulting in a computed cost of $71 per square foot.

The owner of record is Creekwood Preston Alexis, LLC. This entity is also associated with Preston and Alexis Phase I, a separate TDLR-registered project in Dallas valued at $45,000,000 with a review complete status. The Phase II project was registered in February 2023 with a scheduled construction start in January 2024.

Project Scale and Comparison

According to TDLR filings for Dallas County, the median estimated cost for new construction is $950,000. This project's cost is above the county median for its type, placing it in the top quarter of filings. The scheduled build window of 731 days is longer than the county median of 243 days. Conversely, the $71 per square foot figure is below the county median of $125.

The project is privately funded on private land for private use. The registered accessibility specialist is Michael Lynn Kelley. A post by bizjournals.com listed the project with a start date of January 1, 2024, and a completion date, though the specific completion date in that snippet was truncated.

The target completion date on the filing is January 2026. This date has passed. However, no plan review or inspection has been recorded since registration. Therefore, whether the project proceeded as scheduled is not confirmed in the public record.

The surrounding area includes businesses such as Baylor Scott & White Community Care - St. Philip's and The Winners Assembly. Census estimates for ZIP code 75254 indicate a population of about 24,737 and a median household income of $67,903. Housing in this area is predominantly renter-occupied.