Monday, August 10, 2015

Construction kicks off on second phase of North Dallas mixed-use project

The second phase of the 42-acre Preston Hollow
Village project will include over
500 apartments and retail space.

Developers have broken ground on the second phase of a half-billion-dollar North Dallas project.
Provident Realty and Kroenke Holdings have started three more buildings in their Preston Hollow Village at the northwest corner of North Central Expressway and Walnut Hill Lane.
The second phase of the 42-acre project will include more than 500 apartments and retail space.
Construction on the apartments was delayed when the developers went back to the drawing board to redesign the project.
“We changed some things to make the buildings more efficient,” said Provident Realty CEO Leon Backes. “It will take about 22 months to build.”
Backes said the apartments will have a wide variety of rental units, as large as 1,700 square feet. The smallest apartments will start at more than $1,500 a month.
“We’ve had people calling, wanting to know when they will be available,” Backes said.
Ziegler Cooper Architects designed the buildings in a style that complements the first phase of Preston Hollow Village.
The initial construction - which started opening earlier this year - includes a 46,000-square-foot office building and more than 60,000 square feet of restaurant and retail space, including a Trader Joe’s grocery store.
“Getting Trader Joe’s redefined the project,” Backes said. “They were the perfect grocery store for us.”
He said only three or four retail spaces remain vacant in the shopping center.
Tenants in the retail center include Blue Sushi Sake Grill, Modmarket restaurant, Frost Gelato, VertsKebap and Orange Theory Fitness.
Pakpao Thai will open a restaurant soon.
And Preston Hollow Village has signed a 8,400-square-foot restaurant lease with Matchbox Food Group from Washington, D.C.
“It will be their first location in Texas,” Backes said.
The next phase of the development will include a public plaza with a water feature.
A park of more than 3 acres also will be constructed north of the new apartment buildings.
The developers have hired the Office of James Burnett, the landscape architect firm that did downtown Dallas’ Klyde Warren Park, for the park.
Future phases of Preston Hollow Village are planned with more apartments, townhouses retail and office space.
Steve Brown/Dallas Morning News