Uptown Dallas continues its building boom.
The latest developer to target the neighborhood is FRC Realty. The Chicago-based property firm has filed plans with the state for a $95 million apartment building to be constructed just north of Turtle Creek. The 24-story tower would go up at 3515 Brown Street, just north of Turtle Creek Boulevard, according to the Dallas Morning News.
The 364,000-square-foot residential high-rise is planned for a property currently occupied by several low-rise residential buildings. Dallas architect GFF is attached as the designer. Construction is expected to start next summer, according to FRC’s filing with the state. Provided the project stays on schedule, the building would open in 2025.
It’s unclear if the Uptown Dallas project is FRC’s first venture into the Dallas development scene. The company does not have an official website, however a company registered in Chicago under the same name is listed as receiving a Coronavirus-related PPP loan of $942,535 in March 2021.
Just across from the Brown Street project, Houston-based Hanover Co. has been planning a 21-story apartment tower on the site of the Turtle Creek Gardens condominiums at 2525 Turtle Creek Boulevard. Two other developers — California-based Nexus Development Corporation and UDR Inc. from Colorado — have high-rise residential projects in the works on the same block.
There’s also Hines’ ambitious renovation of the historic Maple Terrace building, and Crescent Real Estate’s planned 30-story residential tower on Maple Avenue. Crescent, a Fort Worth-based real estate firm, recently raked in a whopping $400 million for its McKinney & Olive project, a 21-story high-rise it built in 2016 for $225 million.
Meanwhile, at the corner of Maple and Mckinney avenues, Trammell Crow’s planned headquarters for CBRE sits in purgatory. Not only has construction not begun, but Truluck’s — the restaurant that sits on the planned development site, is still taking reservations well into next year.
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— Maddy Sperling