TURTLE CREEK LAND SALES TELL THE STORY
Two very important pieces of land along Turtle Creek Boulevard have changed hands or one has changed hands and the other is about to! Ross Perot Jr’s, Hillwood recently purchased a 6 acre tract of land located between The Katy Trail and Turtle Creek Boulevard. This land was purchased from Classic Residence by Hyatt. Hillwood has announced they have no current plans for the land.
Surveyors were recently spotted on the land bordered by Turtle Creek, Sale, Dickason and Cedar Springs. Just this week the land on the Sale Street side has “proposed rezoning” signs posted. The proposed rezoning request is for a new PDS to allow multifamily with reduced setbacks. Rumor has it there will be two buildings on this prime site — a boutique luxury hotel and a mixed use mid-rise. On the other side of The Katy Trail, the office buildings at 3000 and 3100 Carlisle were recently purchased and the new owners, StreetLights Residential, announced plans to tear down the existing buildings for a new 16 story, 300 unit high-rise residential property.
While all of the proposed construction will no doubt be disruptive in the short term it does attest to the fact that investors see long term value in this area. It will be interesting to watch these developments in the next year or so.
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