Local firm Lincoln Property Company is one step closer to developing a Class A mixed-use project at its prime Uptown Dallas location along Cedar Springs Road.
The company closed Tuesday on a 4-acre site on Cedar Springs Road between Fairmount Street and Routh Street south of Turtle Creek.
“We are thrilled to have completed the transaction at 2500 Cedar Springs,” said Clay Duvall, Co-CEO of Lincoln Property Company. “This is a landmark location that we are excited to develop and transform into one of the city's great mixed-use areas.”
With the acquisition of the site, Lincoln will build 400,000 to 500,000 square feet of office space, approximately 250 luxury apartments, 200 major five-star hotels and residences, and a 25,000 square foot food and beverage facility. All eyes will be on plans for beverage retailers.
Another key element of the development is how Lincoln plans to integrate everything through ample green space.
“We have spent a lot of time studying numerous mixed-use sites around North Texas and across the country,” Duvall said. “We find that quality green space and the outdoors are extremely helpful in any mixed-use development, connecting buildings to each other and giving tenants and occupiers the opportunity to move from building to building and enjoy the space. Ta.”
Jake Young and Worthy Wiles of Lincoln will handle office leasing for the project. The development schedule has not yet been finalized.
“Whenever we have the opportunity to purchase a site like this uptown, not far from the condominiums and the Crescent and a short walk from the Katy Trail, we would take advantage of that opportunity,” Duvall said. . “Everyone at Lincoln is excited to have the opportunity to work on this issue.”
The company first revealed development plans for the site last year. Specifications at the time included a large office tower and his two residential high-rise buildings, all with underground parking.
The Lincoln project will be one of the newest additions to the ever-bustling Uptown.
As construction progresses steadily on the 23Springs tower, the neighborhood is gearing up for the opening of Stream Realty Partners' newly redeveloped The Quad.
Along Klyde Warren Park, Pacific Elm Properties, KDC, and Miyama USA Texas have partnered to build a 30-story high-rise called Parkside Uptown.
