Monday, June 23, 2014

Developers eyeing Uptown Dallas landmark

Built in the 1920s, Dallas' Maple
 Terrace has long been a local
(DMN files)

A cherished Dallas landmark is attracting attention from developers who covet the building’s Uptown site.

The 90-year-old Maple Terrace apartment building was one of Dallas’ first luxury residential buildings. The highrise was designed by noted British architect Alfred Bossom, who was also the architect for downtown Dallas’ Magnolia Building.

Since 2010 the 80-unit rental building has been owned by investor Exxir Corp.

But real estate brokers say builders are looking at the choice property at Maple and Wolf Street with an eye toward building hundreds of new apartment units.

Exxir representatives confirm they’ve been contacted by interested buyers but say that the Maple Terrace hasn’t sold.

Brokers say one of the firms that’s been looking at the property is Gables Residential, one of Uptown’s largest apartment builders and owners. Gables is developing the Whole Foods Market and apartment building on McKinney Avenue.

A previous plan to remodel the landmark building into condos and build an additional 170 units in a new 16-story tower was killed during the recession.

Since then, Exxir has made repairs to the 7-story building and continued to operate it as apartments.

Despite the building’s storied past – over the years it played home to a string of celebrities including Judy Garland and Greer Garson – the property has no historic designations.

Look for a lot of push back from preservationists if buyers propose to knock down the Maple Terrace.

Steve Brown- Dallas News