2021 could be the year of the crane, at least around Preston Center.
A spokesperson for Lincoln Property Co. recently confirmed that the company’s proposed mixed-use project at 8111 Douglas Ave. is expected to break ground by the end of first quarter 2021. The local developer is teaming up with Saint Michael and All Angels Episcopal Church to build a large mixed-use project on a parking lot belonging to the church.
The project will include a 15-story apartment high-rise with 130 units. LPC says it is intentionally keeping the unit count low and is designing each unit with quality and high-end finishes in mind.
The mixed-use project will also include a nine-floor office building with three floors of above grade parking. The office project appears to be breaking ground as speculative and will offer 225,000 square feet of Class A space. LPC is leasing the office portion themselves. Both portions will be built at the same time.
At the base of both buildings will be restaurant and retail space. Open green space will also provide a new home for the Saint Michael’s Farmers Market. HKS has designed the project.
“The location is unique with plenty of restaurants and retailers within walking distance, ahighly-rated school district, beautiful parks, and recreation options. With only threeground up developments delivered in the last 20 years, all of which are substantiallyoccupied, Preston Center is prime for a true class AA mixed-use development,” a spokesperson for LPC said in an email.
Nearby, two more projects are preparing to break ground in Preston Center. Local firmsRosebriar Corp. and Burk Interests are both planning high-rises along Westchester Drivebetween Luther and Sherry lanes. Rosebriar plans to build a 23-story hotel-condo projectwith ground floor retail while Burk Interests is planning to build an apartment tower thatwill be at least 270 feet tall. While both companies have rezoned their properties, neitherhave decided on a groundbreaking date.
Source: Dallas Business Journal, Written by: Ryan Salchert
https://www.bizjournals.com/dallas/news/2020/12/10/lincoln-property.html