Blake Poston, founder of Cover2 Capital, said his company hopes to begin construction on The Savannah, a high-rise at McKinney Avenue and North Central Expressway, in late 2027. Poston said in an email that he expects the project will take 30 months to build and that construction costs are expected to exceed $100 million.
“We are still early in design and predevelopment efforts,” said Poston, a Highland Park High School graduate who played defensive back for SMU. “We are currently working through the city’s development review process as the design continues to evolve.”
The tower is expected to have 100 luxury rental residences at an average of 1,800 square feet. The Savannah will have a mix of one-, two- and three-bedroom units, including three penthouse apartments. Pricing hasn’t been determined, but Poston said he expects the rents to be similar to other luxury properties nearby like The McKenzie, The Lora and The Galatyn.
Cover2 Capital will serve as the project’s developer. The group’s design team currently includes ZDS as the architect of record. Additional partners will be announced at a later date.
The land is owned by Austin-based Halebian Investments, and Poston said his company is under contract to buy the two parcels.
“Our goal is to deliver a timeless residential building that complements the character of the Knox Street neighborhood. Rather than maximizing density, we are intentionally designing a boutique community with larger residences, elevated amenities, concierge services, and a rooftop amenity experience that will be one of a kind for this location,” Poston said.
The project is the latest from Cover2 Capital in North Texas. The firm is behind Wheelhouse, a $59 million mixed-use project in North Richland Hills, and plans to build Greerhouse, a garden-style apartment development in Anna.
U.S. apartment construction starts dropped to about 55,000 units in the first quarter of 2026, a 73% decrease from the peak reached in early 2022, according to data from real estate firm CoStar.
The number of units under construction nationwide was roughly 579,000 in the first quarter of 2026, down more than 50% from its peak in early 2023. Dallas-Fort Worth has the nation’s second-largest apartment construction pipeline, trailing only New York City.