Friday, April 12, 2024 Apr 12, 2024
80° F Dallas, TX
Commercial Real Estate

Cushman & Wakefield Lists Potential $250 Million Development Site Near Uptown

Developers have looked at Turtle Creek Gardens for years, but nothing has moved forward.

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.

Related Articles

Dallas History

D Magazine’s 50 Greatest Stories: The Explosion that Forever Changed West, Texas

Next week marks the 11th anniversary of the fertilizer plant explosion that killed 15 in the small town of West. For this week's edition, we revisit our story from June of 2013.

Dude Perfect Receives $100 Million Capital Infusion

Plus: Cariloop raises $20 million, StrikeReady raises $12 million, and more.

Has Monty Bennett Hoisted Himself on His Own Petard?

A lawsuit alleges that he broke SEC rules with his Dallas Express.