Legacy Partners - one of the country's top apartment developers - has contracted to purchase a 5-acre site on Las Colinas Boulevard east of State Highway 114.
The vacant tract is on the south shore of Lake Carolyn.
"The site has lot of lake frontage," said Legacy Partners' Spencer Stuart. "It will be 17 or 18 stories with a great view across the lake and views of downtown Dallas."
Stuart said the tower will be surrounded by 4-story apartments in the same development.