Friday, August 09, 2013

Construction Starts on High-profile Corner at Walnut Hill and North Central in Dallas

It’s the most prominent vacant lot in all of Dallas.
The empty corner at Walnut Hill Lane and busy North Central Expressway is visible to tens of thousands of commuters every day.
But the high-profile land has sat fallow for the five years since developers knocked down more than 40 acres of aging apartments.
Grand construction plans for the site were tabled during the recession. Then new owners stepped up and invested millions in the property.
Now construction will finally begin — as soon as next week — on a retail, office and apartment complex that will fill part of the vacant corner.
A Trader Joe’s grocery store will anchor the development, which will be called Preston Hollow Village.
“The dirt is going to be flying, and we hope to be open this time next year,” Leon Backes, CEO of development partner Provident Realty Advisors Inc. said. “We are moving fast to get Trader Joe’s going.”
Property owner Kroenke Holdings of Missouri and Provident announced last year that Trader Joe’s was coming to the project.
They’ve been working out details of the development since — most recently getting approvals from the city of Dallas to start the first phase of construction.
“We worked with the existing zoning for the property but had to come up with some new ideas” after Trader Joe’s was signed up, Backes said.
Read more at: Dallas News
Author: Steve Brown