Friday, April 25, 2008

Great Gulf Group of Toronto Plans Hotel and Residence High-Rise on Turtle Creek

A Canadian developer is working on plans for a new high-rise on Turtle Creek.
Toronto-based Great Gulf Group has tied up property at the corner of Fairmount Street and Turtle Creek Boulevard, where it hopes to build a combination residential and hotel building.
The prime corner lot is now occupied by a low-rise office complex.
"We are selling that property to a Canadian group that is going through the zoning process," said Dallas real estate broker Newt Walker. "They plan on doing a small hotel with residences on top."
Great Gulf Group is one of Canada's largest housing firms and is building condominiums in several locations in North America. The company has a $165 million condo project going up in Denver.
A spokeswoman in Great Gulf's Toronto office did not return phone calls seeking details about the Dallas project.
Great Gulf Group also owns Ashton Woods Homes, which builds houses in the Dallas area and other major U.S. markets.
The new tower is the latest such development planned along Turtle Creek near Uptown.
The office complex it will replace was built in 1959 as the regional office of Mutual of New York. By STEVE BROWN / The Dallas Morning News