Tuesday, June 24, 2014

Uptown Dallas property owners pitching modern Flatiron Building for key tract

Owners of the retail and office building at Cedar
Springs Road and Olive Street
 are looking at highrise plans. 
(Steve Brown)

It’s a property with one of the most strategic locations in Uptown.

The more than half acre site is at the crossroads of Cedar Springs Road, Olive Street and McKinnon Street – just a block from the Crescent.

Across the street, construction is about to begin on Crescent Real Estate’s 20-story McKinney & Olive tower.

The triangular tract is now occupied by a strip shopping center and a small office building.

“With land trading at above $300 per square foot in the Uptown area, we’ve decided to explore all vertical options,” said David Pemberton, who represents the partnership that has owned the property for more than 20 years. “We’re in discussions with office tenants, boutique hotels and residential and restaurant uses.

“We feel that a high-end Flatiron-designed building would be a iconic  addition to the Uptown area,” he said.

Pemberton said the 95,000-square-foot tower could cater to small companies that want a more exclusive office address.

An architect’s drawing displayed on the development site shows a modern version of New York’s landmark Flatiron Building, which also is perched on a triangle of land.

Steve Brown- Dallas News