Tuesday, July 29, 2008

New apartment, retail complex going up on Greenville

Wrecking crews are clearing away the last of the old Shamburger Building Center on Greenville Avenue to make way for an apartment and retail complex.

Prescott Realty Group bought the lumberyard at Greenville and Yale Boulevard in 2005.

Since then, the developer has been working on plans for redeveloping several sites in that area.

Prescott Realty hopes to complete the demolition and site work "in 30 days or so and close on all financing at same time" for the development, said chief executive Jud Pankey.

The project on the Shamburger site will contain as many as 450 apartments plus about 20,000 square feet of retail and restaurant space, according to filings with the city of Dallas.

And Prescott Realty has more property to redevelop for mixed use farther west on Yale and adjacent to its Radisson Hotel and office tower on North Central Expressway.

The developer's other Dallas projects include the Lake Highlands Town Center development on Skillman Street and the condominium tower being built adjacent to the historic Stoneleigh Hotel.