Monday, August 24, 2015

Apartment builder eyes Uptown condo project for new development


A condo development on Dallas’ Katy Trail has attracted attention from a major apartment builder.
Lennar Multifamily Communities is looking at the almost 4-acre Turtle Creek Terrace condos at Carlisle and Hall streets, real estate brokers say.
The property which lines the Katy Trail has been offered for sale for several months to developers who would tear it down for new construction.
Property owners hired Holliday Fenoglio Fowler to market the 2-story buildings for sale.
It’s one of the largest redevelopment properties up for grab in what is one of Dallas’ hottest neighborhoods.
The condos which are just east of Turtle Creek were built in the 1960s and remodeled several times over the years.
It’s just a block from where the Perot family is building its new corporate offices on Turtle Creek.
The 17-story Taylor apartment high-rise is just across the street.
Lennar Multifamily already has several projects in the works in North Texas.
The developer plans to build a high-rise apartment project in Victory Park on the northwest edge of downtown.
And Lennar Multifamily is building a large rental community in the Park Central development in North Dallas and in Oak Lawn off Lemmon Avenue.
Steve Brown/Dallas Morning News