DALLAS – (Realty News Report) – Lincoln Property Company will break ground next month on a prominent mixed-use development in the Preston Center district of North Dallas.
The project consists of two high-rise towers: a 225,000-square-foot office building and a 14-story residential tower containing 128 multifamily rental units. The towers will sit side-by-side and be separated by a parking structure and an elevated amenity deck.
Lincoln Property Company, one of the largest diversified real estate firms in the United States and Europe, will relocate its corporate headquarters into approximately 60,000 square feet within the new office building. Sewell Automotive will also move its corporate headquarters to the tower, occupying about 26,500 square feet.
The commercial division of Lincoln Property Company, based in Dallas, is developing the site on land owned by Saint Michael and All Angels Episcopal Church. The project follows a five-year collaboration to secure entitlements from the City of Dallas.
“Saint Michael and All Angels has been great to work with, and we are thrilled to take this monumental step forward to bring our shared vision to life,” said John Walter, executive vice president of Lincoln Property Company. “This project will be a best-in-class development designed to bring a dynamic mixed-use offering to the area.”
The development is located at 8111 Douglas Avenue, near the Northwest Freeway, positioned between the Park Cities and Preston Hollow neighborhoods and close to the Dallas North Tollway.
In addition to office and residential space, the project will include a ground-floor restaurant with outdoor patio seating. A significant emphasis is placed on community green space: the site will feature more than 1.3 acres of programmed outdoor areas for public use and resident amenities.
The residential building will be located within the Highland Park Independent School District, one of the highest-ranking school districts in Texas, which is a selling point for prospective tenants with school-aged children.
Lincoln Property Company was founded in 1965 by chairman Mack Pogue. Since its founding, the firm has developed more than 150 million square feet of commercial space and over 216,000 multifamily residential units.
April 19, 2021 Realty News Report. Copyright 2021.
Photo credit: Courtesy of Lincoln Property Company
For more about Texas real estate: Houston 2020: America’s Boom Town – An Extreme Close Up by Ralph Bivins. Available on Amazon.
File: Lincoln Property Breaking Ground on Two Towers
File: (2) Mack Pogue; Sewell Automotive; Lincoln Property Breaking Ground on Two Towers in Preston Center.