An Atlanta-based apartment developer and investor is ramping up its activity in Dallas with a new project.

Pollack Shores Real Estate Group plans to build a 240-unit rental community on Ross Avenue, just east of downtown. The four-story apartment development is valued at more than $30 million.

The company has filed building permits for the project at Ross and Peak Street, on property that is now used for auto sales.

Pollack Shores managing director Brian Oates confirmed details of the project.

“Yes, it is our first development project” in Dallas, he said in an email. “We own several existing projects.”

Oates said the first apartments in the development will be ready late next year, with a project completion set for early 2021.

Founded in 2006, Pollack Shores has purchased or developed more than 22,000 apartment units and has $1.8 billion in holdings. Its portfolio includes projects in Atlanta; Orlando, Tampa and Jacksonville, Fla.; Raleigh and Charlotte, N.C.; Charleston, S.C.; Austin; Nashville; and Richmond, Va.

Pollack Shores’ Matrix Residential management company operates 31,000 apartments in eight states.

Dallas-Fort Worth is the country’s top apartment-building market, with more than 35,000 units under construction.

Twitter: @SteveBrownDMN