Wednesday, February 29, 2012

Long-coveted Turtle Creek block may finally see construction

Steve Brown
An Oak Lawn block that's been empty for a quarter century is being planned for apartments and office construction.
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Developers are eyeing an Oak Lawn block that has long been considered the best construction site onTurtle Creek.
The 6-acre tract at Turtle Creek Boulevard and Cedar Springs Road has been vacant since the 1980s, when builders knocked down an old office building.
Back then the plan was to construct a 30-story office tower complex. But the real estate crash put an end to that scheme.
And for more than a quarter of a century the land — owned by General Electric Pension Trust — just sat.
Now apartment builders and an office developer are looking at new projects for the property, which GE will help fund.
Columbus Realty Partners, one of Dallas’ most experienced apartment builders, has filed plans with the city of Dallas to build a 347-unit rental project on the north half of the property.
Two buildings about eight stories tall would be built on both sides of Dickason Avenue at Sale Street.
Columbus Realty CEO Robert Shaw declined to discuss plans for the project.
But details at City Hall say the building will be designed by JHP Architecture, a firm that’s worked on multiple urban-style apartment projects in Dallas’ Uptown neighborhood and other close-in locations.
Columbus Realty has partnered with GE on some of its projects in Collin County. And Shaw pioneered the Uptown apartment building market starting in the 1990s.
The property owner is also working to develop the south half of the Turtle Creek block for office space.

For complete article please visit:
http://www.dallasnews.com/business/commercial-real-estate/headlines/20111202-long-coveted-turtle-creek-block-may-finally-see-construction.ece