Joint Venture Buys Oak Lawn Site for 362 Units
Trademark Property Company and Morgan Group acquired the former H-E-B land at 3900 Lemmon Avenue to build a seven-story apartment project.
Updated on Nov. 2, 2026 in Commercial
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A joint venture of Trademark Property Company and Morgan Group bought a 3-acre property at 3900 Lemmon Avenue in Dallas from H-E-B for an undisclosed price. The site, which formerly housed an H-E-B store, will host a planned 362-unit, seven-story multifamily development.
Why it matters
The purchase brings a full city-block parcel in the Oak Lawn neighborhood near Uptown into residential development after a planned grocery store never materialized on the site. The project adds apartment supply in a central Dallas neighborhood at a time when the developer has shifted its strategy elsewhere.
The 3-acre site will accommodate 362 units across seven stories, compared with 414 units Trademark previously sought on the H-E-B property in 2023. The purchase price was not disclosed.
The players
Trademark Property Company
Trademark Property Company is a Dallas-area real estate developer that has pursued multifamily and mixed-use projects in the region.
Morgan Group
Morgan Group is a real estate investment and development firm that partnered with Trademark on the joint venture that acquired the site.
H-E-B
H-E-B is a Texas-based grocery chain that owned the Lemmon Avenue property and operated a store there before selling the land.
The details
Trademark and Morgan Group formed the joint venture to acquire the property, and Trademark completed zoning work with the city before construction. Planned amenities include a resort-style swimming pool, landscaped courtyards, coworker spaces and a modernized fitness center.
Timeline
2023: Trademark sought a 414-unit multifamily development on the H-E-B site.
July: Trademark geared up to break ground on its Anthem development.
Wednesday: Construction on the Oak Lawn development is set to begin.
Market Landscape
Trademark scrapped a hotel and multifamily element at its Anthem development and pivoted to a retail-focused plan, while committing to residential units on the Oak Lawn site. The divergence points to developers matching project type to specific parcels rather than applying one template across Dallas.
Residents seeking apartments near Uptown will see 362 new units added once the seven-story building opens, with amenities including a resort-style pool and coworker spaces. The development does not yet have a published lease-up schedule or rent range.
The takeaway
Developers are matching project types to individual parcels, so a site once planned for groceries is now slated for apartments. Renters in central Dallas should watch for new supply in Oak Lawn as construction gets underway.
What happens next
Construction on the Oak Lawn development is set to begin Wednesday.
Further reading
Explore more Dallas Commercial real estate news for context on local development activity.
Source note: This article includes information reported by The Real Deal New York.
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