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Commercial
Dallas

Cawley pitches resi high-rises for Preston Center

Apartments would replace condos on Northwest Highway

Cawley Partners' Brian Neitzel and rendering of Preston Center (CBRE, Getty, Cawley Partners)
Cawley Partners' Brian Neitzel and rendering of Preston Center (CBRE, Getty, Cawley Partners)

A Dallas developer is planning a high-rise project for the Preston Center neighborhood.

Cawley Partners is working with the owners of two condominium developments on Northwest Highway to build 9- and 16-story condo buildings where the 1960s-era Royal Orleans and Diplomat Condominiums currently stand, the Dallas Morning News reported. The new development would replace those two-story buildings on East Northwest Parkway with 225 apartments.

The developer has requested a zoning change for the project between Northwest Highway and Bandera Avenue, next to Hanover’s 23-story multifamily high-rise project, which will have 213 rental units. The Athena and Preston Tower condo complexes are also located along the same stretch of Northwest Highway.

Dallas-based architect GFF will design the buildings, which will include underground parking. The new project comes as zoning laws changed to allow for high-rise development on land, CBRE Group said.

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Multiple projects are underway in the Preston Center area. The owners of the Preston Center Pavilion shopping center on Westchester Drive are planning a two-high-rise project with retail and 180 residential units on a portion of the property. In addition, Lincoln Property Company is working on two high-rise buildings on Douglas Avenue.

A few miles away, in Uptown, Chicago-based FRC Realty has filed plans with the state for a $95 million apartment building to be constructed just north of Turtle Creek. The 364,000-square-foot residential high-rise is planned for a property currently occupied by several low-rise residential buildings. GFF is the architect for that project as well.

Apartment demand in North Texas plunged in the third quarter last year. While the summertime is typically a strong period for apartment leasing, last year net leasing declined by more than 5,000 units in the three-month period. Mesquite, Rockwall, Ellis County and East Fort Worth reportedly had the biggest drops.

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Mysterious Chicago firm with Brown Street near Turtle Creek Boulevard (Illustration by The Real Deal with Getty, Google Maps)
Commercial
Dallas
Mysterious Chicago firm plans resi tower in Uptown Dallas

— Victoria Pruitt

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