Dallas Developers Propose $600M Two-Tower Project Near Katy Trail

A group of Dallas real estate figures led by Jonas Woods and Ignite-Rebees founders Tristan Simon, Mark Masinter and Tom Paterson has proposed a $600 million two-tower development at 5114 McKinney Avenue next to the Katy Trail, under the banner 3-0 Real Estate Partners. The plan calls for Ivy Park, a 30-story tower with 63 for-sale condos and a 97-key boutique hotel rising 400 feet, and The English, a 20-story residential building with 90 units for sale or rent. The towers would share an underground parking garage. Condo pricing is estimated at $2 million to $8 million, with an Ivy Park penthouse near $12 million, or $25 million with an added floor. Woods first filed state permits in 2023. The 2-acre site formerly housed the Monticello West assisted living community. Current zoning caps height at 240 feet, so Ivy Park requires approvals. Woods targets construction in late 2027 or early 2028.