Construction is expected to begin later this year on a five-story, 250-unit apartment community, which will be located one block from the American Airlines Center on Harry Hines Boulevard at Payne Street, which is just east of Victory Park.

The rental project, which is being called "Victory Apartments," will be located on what is known as one of the busiest traffic routes into Uptown and downtown, near a Dallas North Tollway exit.

The project was designed by architect Hensley Lamkin Rachel Inc., and builder Alamo Manhattan LLC was the organization that filed plans with the city of Dallas to construct the apartment community.

Last year, rent rose by about 4 percent for apartments in Uptown and many of the current rental units in the community are full, according to reports.