Top Turtle Creek site eyed for hotel, residential and office project
Developers who own a key property just north of Uptown are proposing a high-rise hotel, residential and office complex.
Prescott Realty Group has owned the former Republic Insurance buildings at 2727 Turtle Creek Blvd. since 2014.
The Dallas-based developer previously looked at rehabbing the old buildings into new offices.
But now Prescott plans to lure a five-star luxury hotel and also build condominiums, apartments and offices on the site near the Mansion on Turtle Creek Hotel.
The three-building proposal is one of several high-rise developments planned in that area.
"We have, with 5.5 acres, one of the last sites large enough on Turtle Creek to create a world-class mixed-use project," said Prescott president Vance Detwiler. "We've gotten calls from several luxury hotel brands that are interested in the site."
Detwiler said the property is zoned for office, hotels and multifamily residential construction.
Prescott intends to ask city planners for approvals to make the project about five stories taller than is currently allowed and to remove prohibitions against serving alcohol.
"We can't do a luxury five-star hotel without the ability of the hotel to sell alcohol," Detwiler said. "We have a little over 1 million square feet of development rights, and we are not asking for any additional density."
HKS architects of Dallas designed the airy buildings with glass and metal exteriors.
Areas in front of and between the high-rises are being set aside for landscaped plazas and restaurants.
"The extra height we are asking for will allow us to have slimmer, more elegant buildings with more open space," Detwiler said. "From a height perspective, we are not asking for anything that's not been allowed in the area."
Prescott is planning for the hotel to have more than 200 rooms, with 35 to 40 large condos on top.
A separate tower would have rental apartments. And a 15-story office building would go near the back of the property.
Detwiler said construction could start as soon as the end of the year or early 2019 if the developer obtains needed approvals.
"This is one of the last building sites along Turtle Creek where you can make this kind of impact," he said.
A handful of other high-rise projects are being planned nearby.
The Canadian developer Great Gulf Homes has been working for several years to build a more than 20-story condo tower on Turtle Creek Boulevard at Routh Street. And Great Gulf owns a high-rise apartment tower site across the street.
Developer Hillwood Urban is looking for tenants for a high-rise office project to be built on the vacant corner of Turtle Creek and Cedar Springs Road. The site is across the street from the Perot family's recently completed business headquarters.
"We're waiting to find the right tenant to anchor the building," said Hillwood's Mike Berry.
High-rise apartment developers have gobbled up most of the remaining building sites along Turtle Creek and in nearby Uptown.
That has limited the number of building sites left.
"We know we have one of the best locations," Detwiler said.