A multifamily project led by The Dinerstein Cos. and Coventry Real Estate Advisors will be moving forward now that the partners have closed on the acquisition. The project has been named Millennium High Street and will be located inside the 610 Loop.

The project will span 6.25 acres at 4410 Westheimer. The property was purchased from the Kagan and Rudy families, but further details of the transaction have not been released.

The project was adopted from Fort Worth-based Trademark, who planned a larger-scale project in 2008 that was shelved when the economic downturn hit.

“We think it’s the best location in the city,” said Brian Dinerstein, a partner with the Houston-based developer.

The project will include 340 apartment units ranging from 767 to 1,347 square feet in size, as well as 10,000 square feet of restaurant space and 15,000 square feet of retail space. Dinerstein Cos. will design, build and manage the complex. The development firm is also currently working on a Millennium-branded apartment project located at 2525 McCue, also in the Galleria area.

“Projects like High Street are part of a growing trend — the expansion of high-density living outside of downtown,” Dinerstein said in a news release. “Adjacent to the iconic retail and restaurant offerings at The Galleria and Highland Village as well as public transit and business districts, The Millennium High Street demonstrates the ability to live, work and play in a sustainable environment.”

Completion of the Millennium High Street project is scheduled for the summer of 2013.