Choice Turtle Creek building site sells to top U.S. apartment developer

A alternative improvement site alongside Dallas’ Turtle Creek has bought to one of many county’s top apartment builders.

The vacant site at 2727 Turtle Creek Boulevard is simply north of the booming Uptown district. The property, positioned close to the Mansion on Turtle Creek Hotel, was beforehand the site of an workplace building that after housed Republic Insurance.

More lately, builders deliberate workplace, resort and residential towers on the site, which was cleared in 2019.

Now Colorado-based UDR Inc. has bought the high-profile property, county information present. UDR has a monitor file of building top-quality rental communities throughout the nation, together with in North Texas.

Its largest Dallas-area group is Vitruvian Park flats in Addison. UDR owns greater than 3,800 North Texas flats in nearly a dozen properties.

Nationwide, the corporate has 160 communities in 13 states plus the District of Columbia totaling 53,503 apartment properties.

Commercial property agency Jones Lang LaSalle marketed the Turtle Creek property. “This is a rare opportunity to acquire fully entitled in town infill development sites that will be part of a mixed-use development with targeted residential, hospitality and office uses,” JLL stated in its advertising pitch for the properties.

Jonathan Carrier and Michael Swaldi with JLL brokered the sale.

The sale is simply the most recent current property transaction alongside Turtle Creek.

A Houston apartment builder, Hanover Co., is negotiating to purchase the Turtle Creek Gardens condominiums subsequent door. And California-based Nexus Development Corp. desires to construct a 25-story residential tower on the vacant nook of Turtle Creek Boulevard and Fairmount Street.

Another close by property at 2999 Turtle Creek Blvd. was lately acquired by Dallas’ HN Capital Partners. That site is occupied by a French Renaissance-style workplace building that after housed places of work for the late Dallas actual property developer John Eulich.

And a vacant Turtle Creek block at Cedar Springs Road is slated for a Four Seasons Hotel and condominiums. Boston developer Carpenter & Co. and Dallas’ Perot household are planning that venture.