Northpark Center Area Property Development Pipeline
Northpark Residences
The Northpark Center area is visiting a great deal of activity by real estate developers. Several underutilized buildings are being demolished to produce room for brand new, highest and best use projects. The proximity to White Rock Lake as well as the convenient access provided by its northern border Central Expressway keep this a highly desirable area. Adding the brand new Lake Highlands DART Station will further improve use of and from this area.
Preview March 2015
Park Lane - Harvest Partners and Sapphire Properties are creating a mixed use project throughout the North Central Expressway from Northpark Center. The event encompasses 33.5 acres and can build in the market to a couple of.9MM sqft. Details include 700,000 sqft of retail space, 750,000 sqft of class A workplace, a 250-room 4 star hotel, a 75,000 sqft health club, and approximately 625 luxury residential units. Project pricing is reportedly within the $750MM range. The initial deliveries are scheduled for fall 2009.
The Glen at Preston Hollow - Provident Realty Group as well as the Red Sea Group are planning to redevelop a 42-acre site on the intersection of Walnut Hill Lane and Weeping Willow Drive. Plans include 100 single homes, 100,000 sqft of mid-rise workplace, 175,000 sqft of retail and up to 1,100 apartments. Total project cost is estimated being $300MM. Phase I of construction is scheduled to finish in summer 2010.
Lake Highlands Town Center - Prescott Realty Group is creating a mixed use project on 69-acres at the intersection of Skillman and Walnut Hill Lane. Plans demand a 20 acre park, 300,000 sqft of retail, 1,700 residential units, and 50,000 sqft of office space. The project will be complemented by way of a DART light rail stop. Vertical construction is scheduled to commence in 2009, with all the first deliveries this season. The DART station is scheduled for completion this season.
Midtown Park - Valencia Capital Management is building a mixed-use, master planned project on an 83-acre site that straddles Manderville Lane. Buildout plans include high rise condos, luxury townhomes, a senior living facility, medical work place, expensive hotels and retail space. Demolition commenced in November 2008. Phase I of construction is scheduled for delivery at the end of 2009.
Koll Development Site - Koll Development is planning to develop a 12-story medical business building around the corner of Walnut Hill Lane and the North Central Expressway. The building will include approximately 250,000 sqft of medical workplace with very beginning retail. Conditional approval was granted from the planning commission in January 2008.
Cambridge Apartments - Fath properties is likely to redevelop the Cambridge Apartments at 5959 E Northwest Hwy and build approximately 797 new apartments in a 79 foot tall building. Conditional approval was granted from the planning commission in March 2008.
White Rock Trail - Prescott Realty Group is intending to redevelop the White Rock Trails Apartments on Skillman Street at Merriman Parkway. Plans include a four story building being integrated 2 phases. Conditional approval was granted by the planning commission in February 2008.
Trammell Crow Shopping center - Trammell Crow is creating a retail shopping center on the site with the former Timber Creek Apartments (Melody Lane at Eastridge Drive). Demolition with the apartments commenced in February 2008.
Zom Site - Zom Inc. is redeveloping the Village View Apartments on Skillman Drive at Fisher Road. The developer is planning to build a new 422 unit apartment community on the parcel. Construction was scheduled to commence in June 2008.