A Houston-based apartment developer has purchased one of the last vacant properties on Dallas’ Turtle Creek.
The tiny, half-acre site is on Hall Street at Turtle Creek Boulevard — just across from Turtle Creek Park. The building site is surrounded by the Renaissance on Turtle Creek condominium towers.
For years, the property was occupied by a former single-family home that housed the offices of the late Dallas businessman George Poston. When the next door residential high-rises were built, Poston decided to stay put.
Now the property has sold to an affiliate of Houston-based MarketSpace Capital, an apartment company that says it has $260 million in assets under management.
The new owner acquired the property under the name Turtle Creek Tower LLC, a not-so-subtle indication of what’s planned for the property. The property is zoned for residential, office, hotel, retail or medical buildings.
Mike Turner of J. Elmer Turner Realtors brokered the sale with Jake Milner of Davidson Bogel Real Estate.
Turner said the developer is planning a residential tower with a “waterfall feature.”
Commercial property firm JLL in a previous marketing pitch for the property included architectural renderings of a high-rise that could be built on the land.
