Update:
This story has been updated to reflect a foreclosure auction on July 2.
Houston developer pours more than $15 million into Uptown high-rise makeover
Renovated units and the building’s seventh floor 6,700-square-foot amenity level — and its rooftop pool — are a big part of the work.
A Houston developer will pour more than $15 million into a facelift for a 21-story Uptown Dallas apartment high-rise — but it’s also trying to fend off foreclosure threatened by a lender.
Vero Sade on Wednesday unveiled its work on 3700M, a 381-unit luxury property at 3700 McKinney Ave. The work centers around the complex’s seventh floor — a 6,700-square-foot amenity level that features a rooftop pool with cabanas and summer kitchens, an all-day cafe, a yoga studio, a 24/7 fitness center and an outdoor terrace for fitness programming.
The building’s lobby was turned into a two-story, 6,000-square-foot multipurpose space geared to residents and the general public as part of the work. The venue serves as an event space as well as a coworking space with private offices for rent.
The tower’s apartments are also being revamped and that work continues.
Vero Sade is offering studio, one- and two-bedroom homes spanning 562 to 1,475 square feet. The open-concept living spaces feature oak flooring and floor-to-ceiling windows throughout. In the kitchens, you’ll find built-in pantries, light wood cabinetry, quartz countertops and upgraded stainless steel appliances.
Other features include spa-like baths and walk-in closets. Select units offer balconies or patios. Roughly 10 of the property’s one-bedroom apartments have set aside for short-term renters — those looking for a place to stay for at least one week.
See $15M makeover for Uptown high-rise
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Vero Sade has completed work on 91 units thus far, and the plan is to renovate all apartments. Studios start at $2,200 and two-bedrooms with unobstructed, skyline views of Dallas start at $4,000, a company representative told The Dallas Morning News.
3700M is pet-friendly with a newly unveiled dog run, and the high-rise also features electric-vehicle charging stations. The property was originally built in 2014.
The project redesign was led by Good City Studio, a Philadelphia-based design shop whose work includes a mix of high-profile multifamily properties, private clubs and hotels.
“Vero Sade’s club living concept is designed to reimagine traditional multifamily life through elevated, thoughtful design and purposeful programming — elements intended to encourage interactions, relationship building, and ultimately, community among its resident members,” Dan Bassichis, co-founder of Vero Sade, said in a statement. “A key residential anchor of its walkable, mixed-use Uptown Dallas environs, the new 3700M will be attractive to renters by choice and those who value location, luxury and connection to their neighbors.”
The updates come as Vero Sade looks to avoid a foreclosure auction. The property has been scheduled for a July 2 foreclosure auction, according to a June 10 filing with the Dallas County Clerk’s Office.
Vero Sade purchased the Uptown high-rise in 2022. Shortly after the purchase, limited liability companies connected to the developer took out a $121.5 million loan with Column Financial Inc., according to county documents. The current noteholder is MFI REIT II-A, L.L.C.
“Vero Sade acquired 3700M in spring 2022 and has since invested significant capital in bringing the asset to best of class in the Dallas multifamily market,” Bassichis said in a statement. “We are deeply committed to maintaining our ownership of this property and have been working diligently with our lender over the course of several months to resolve this matter.”
