A Turtle Creek condo complex has hit the market with land prime for redevelopment.
The Turtle Creek Condominiums Homeowner’s Association has hired commercial real estate firm, Cushman & Wakefield, to sell the 4.5-acre property located in Dallas’ affluent Oak Lawn/Turtle Creek District.
The property could accommodate a new development valued at more than $250 million.
“The property is situated in one of Dallas’ most exclusive urban districts, adjacent to some of the highest-valued real estate in all of North Texas, including the Rosewood Mansion and Mandarin Oriental hotels,” said Chris Harden, who is marketing the property along with Cushman & Wakefield’s Ryan Duffie, Ben Fuller, and John Carr.
In-place zoning allows for a variety of uses, including hotel, office, multifamily, and retail—with, at max, a 240-foot tall building height with up to 871,505 square feet.
“As one of the only available tracts remaining in the Turtle Creek / Uptown submarket, 2525 Turtle Creek Blvd. presents a rare opportunity for a developer looking to establish a significant position in the Dallas market,” said Duffie.
Built in the 1960s, Turtle Creek Gardens currently includes 108 condo units—some of which have recently been listed for sale around $350,000 and up.
The property next door—Republic Insurance’s former headquarters, has already been cleared for high-rise development, and a Canadian developer owns another adjacent site that’s planned for a residential towner.