Thursday, August 07, 2014
Trammell Crow pondering major mixed-use project near Love Field
Developers are quietly working on a major project on Mockingbird Lane in Dallas that would bring big changes to the area near UT Southwestern Medical Center and Love Field.
Trammell Crow Co. is in the planning stages for the large mixed-use development that will include hundreds of new apartments and retail space, real estate brokers say.
The project at Mockingbird and Forest Park Road is being considered for land that’s owned by a California firm.
Balcones Realty Partners – a company that includes championship boxer Oscar de la Hoya – bought the land in 2009 with plans to do a major mixed-use development.
Of course that was just as the recession was taking hold and the deal never moved ahead.
The more than 30-acre property is along a creek, which is currently being rechanneled in a city flood control project.
Brokers who work in the area say that Crow’s High Street Residential is planning the project to take advantage of redevelopment of the old commercial district.
Apartment builders have in the last five years completed more than 2,000 new rental units in the area along Maple Avenue and Inwood Road near UT Southwestern.
And the expansion of nearby Love Field is causing a renewed focus on the area.
High Street Residential is Crow’s urban apartment and condominium development company.
Since 2000, High Street has developed more $1 billion in projects, comprising with more than 4,100 housing units.
High Street built the transit-oriented apartment and retail project in downtown Carrollton.
And it’s a partner in the 5th Street Crossing project in downtown Garland and developer of DeSoto Town Center.
A Trammell Crow spokesperson said Thursday that it would be premature for the company to comment.
The Mockingbird land is owned by a company set up by Balcones Realty Partners and De La Hoya’s Golden Boy Partners.
The El Segundo-based company was formed in 2005 to invest in real estate projects that would support community redevelopment.
Golden Boy has done a theater, retail and office project in Daly City, Calif. And the company has invested in office buildings in Oakland and Anaheim.
When the investors bought the Mockingbird Lane property back in 2009, they were planning a plant a $90-million retail, restaurant and residential village to be built in Spanish Mission style with a large central park.
By Steve Brown- Dallas News