DALLAS — Prescott Group has begun the demolition and early construction phase for 2727 Turtle Creek, a five-acre mixed-use campus in the Turtle Creek submarket of Dallas. The development will include an office tower, high-rise apartment tower and a hotel tower.
Prescott Group imploded an existing, vacant nine-story office building and parking garage on the site early on Sunday, Sept. 15. The building was the former home of Republic Insurance, according to local media reports.
Construction crews are clearing the site and beginning utility upgrades for the multi-tower development along Turtle Creek Boulevard. Prescott Group expects to finish the demolition and removal phase of construction by the end of the year and wrap up the utility and infrastructure upgrades in the first quarter of 2020.
The office tower at 2727 Turtle Creek will rise 19 stories and span 285,000 square feet. Prescott Group plans for the building to feature a rooftop terrace, fitness center, conference and training center, bike storage and a full-service café. Prescott Group has tapped Jeff Eckert and Ahnie Sheehy of JLL to lease the office space.
The hotel will rise 24 stories and offer 200 hotel rooms and an undetermined number of luxury condominiums. Amenities at the hotel and residential tower will include an elevated pool, restaurant and common areas for meetings and banquets. The hotel brand and operator have yet to be identified.
The multifamily community will span 20 stories and include a fitness center, meeting room, dog park, outdoor living spaces and a swimming pool.
Turtle Creek is an upscale neighborhood situated adjacent to Uptown Dallas and Highland Park. Residents, office tenants and hotel guests will have access to the nearby Katy Trail and Turtle Creek Park.
“This mixed-use development, in one of the most beautiful and celebrated areas of Dallas, will feature best-in-class offerings and amenities to complement its surroundings,” says Jud Pankey, founder and CEO of Prescott Group.
Prescott Group expects to begin vertical construction next year after completing infrastructure upgrades. The firm plans to deliver all three towers by the end of 2022. The development team wasn’t disclosed, but The Dallas Morning News reports that HKS is the architect of 2727 Turtle Creek.
Prescott Group is a multi-faceted real estate company based in Dallas. The firm’s divisions include real estate developments and redevelopments via Prescott Realty Group; Prescott Advisors, an investment fund registered with the U.S. Security and Exchange Commission (SEC); and Dyck O’ Neal Inc., a purchaser and manager of U.S. real estate loans.
— John Nelson