Dallas Fort Worth Urban Forum

Turtle Creek : 2999 Turtle Creek Blvd

User avatar
kingpin
Posts: 328
Joined: 14 Nov 2016 09:24

Turtle Creek : 2999 Turtle Creek Blvd

Postby kingpin » 28 Sep 2017 02:27

Lincoln Property plans major development with Turtle Creek buy

https://www.dallasnews.com/business/real-estate/2017/09/21/lincoln-property-plans-major-development-turtle-creek-buy
Image

A key Turtle Creek property with a high-profile location has changed hands, and the new owners are contemplating a major development.

Dallas-based developer Lincoln Property Co. has quietly purchased the two-story office building at 2999 Turtle Creek Blvd. near the Mansion on Turtle Creek Hotel. The 25,000-square-foot office sits on more than 2 acres and is across the creek from the Perot family's new corporate campus.

Lincoln Property is marketing the luxury property to potential office tenants while looking to construct a high-rise behind the existing building.


"We just put the sign up," said Lincoln Property's Worthey Wiles. "We are still trying to evaluate what we can build there."

Constructed in 2004, the French Renaissance-style office building with underground parking was built by late Dallas real estate developer John Eulich.

At an estimated cost of almost $800 per square foot, the exclusive office housed Eulich's real estate and investment companies and his collection of fine art. The property includes the site of the fabled Cipango Club, which operated from 1946 to 1986.

Eulich died last year. One of his companies owned by the family sold the Turtle Creek building to a partnership set up by Lincoln Property. The acquisition was financed with a note from a Fort Worth energy firm, real estate records show. Terms of the transaction were not disclosed.

But the acquisition was likely one of the most expensive per-square-foot property transactions in North Texas this year.

The building and development site are on the edge of Dallas' booming Uptown district. The Perot family's Hillwood development group plans to build a high-rise office project on the vacant block next door.

Lincoln Property could construct a tower on the site behind the low-rise building to house multiple uses. Development sites in the Uptown and Turtle Creek area are scarce and properties trade for high prices.

A half-block building site on Maple Avenue in Uptown is on the market with an asking price of almost $400 per square foot.

Lincoln Property is one of Dallas' oldest and most experienced commercial real estate developers. The company just sold the Turtle Creek Village office and retail center in Oak Lawn, which Lincoln redeveloped. That property fetched more than $100 million at sale, real estate brokers say.

Lincoln also is finishing work on a 25-story office high-rise on Pearl Street in the downtown Dallas Arts District. The 260,000-square-foot tower is next to the Meyerson Symphony Center and will open in January.


Image

User avatar
Kelley USA
Posts: 524
Joined: 27 Oct 2016 12:46

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby Kelley USA » 18 Oct 2018 15:42

This popped up today in the DMN with a rendering... I know another thread mentioned that an Asian Hotel chain was interested in being a part of the project.

https://www.dallasnews.com/business/rea ... ear-uptown

User avatar
Matt777
Posts: 669
Joined: 28 Oct 2016 09:10

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby Matt777 » 18 Oct 2018 16:01

I guess that means the office building currently there will be demolished after all.

Wasn't another recent proposed development being considered for an "Asian hotel chain," which is likely Mandarin Oriental? Or am I imagining things.

The condos here should do well. It blows my mind that more new highrise condos haven't been developed when all the old ones have been in high demand over the years. Museum Tower and Bleu Ciel were placed in areas with no history whatsoever of luxury condo sales or demand, and the developers wondered why sales were slow. Hopefully this new condo development will show that there is more luxury condo demand in Dallas, in the right areas.

User avatar
R1070
Posts: 721
Joined: 26 Oct 2016 21:00

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby R1070 » 18 Oct 2018 19:19

Sounds like it could be a Mandarin.

User avatar
NdoorTX
Posts: 179
Joined: 21 Nov 2016 02:27

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby NdoorTX » 18 Oct 2018 23:24

This is exciting and depressing news. The current Cole Smith designed building is a really good interpretation of an 18th century French structure. I wish they could retain it and build a tall, slender tower towards the rear of the property that would house the hotel/ condo portion. It can be a super skinny that finally pushes past 20 floors. Maybe 35-40. Is that allowed here? Poor Cole Smith- an acclaimed local architect at the end of his career and already seeing his work wiped away. His stately home for the Frito-Lay founders has been razed in Preston Hollow and a Greek Revival manse on Strait Lane gone as well.

On the plus side, this does appear to be an interesting tower that breaks from the typical banal box that appears here so often. Plus a Mandarin Oriental is quite the catch for Dallas.

-Sigh- :( :cry:

I imagine something like the MO in Atlanta to re purpose the office building currently on the site.
Image

User avatar
ContriveDallasite
Posts: 274
Joined: 27 Oct 2016 03:34
Location: München

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby ContriveDallasite » 19 Oct 2018 02:20

Lincoln Property is marketing the luxury property to potential office tenants while looking to construct a high-rise behind the existing building.


Let's hope they mean what they say.

cowboyeagle05
Posts: 1959
Joined: 21 Oct 2016 08:45
Location: Dallas

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby cowboyeagle05 » 19 Oct 2018 10:34

The renderings clearly show the original building is gone. Lincoln is obviously glossing over the teardown hoping no one will object and make a thing of it. They have the legal right to do so but it is a lovely building I hate to see leave.

Look at this shiny thing over here..........

User avatar
tamtagon
Site Admin
Posts: 1721
Joined: 16 Oct 2016 12:04

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby tamtagon » 19 Oct 2018 11:24

That's money for you -- when built, this had little chance of lasting for long, but having the nicest office in the nicest part of town for the last several years of a real estate career more than paid off.

cowboyeagle05
Posts: 1959
Joined: 21 Oct 2016 08:45
Location: Dallas

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby cowboyeagle05 » 19 Oct 2018 12:30

I mean it is out of scale with the rest of the neighborhood at this point. So that is two luxury brand hotels supposedly coming to Turtle Creek. One here and one at 2727 Turtle Creek.

User avatar
Tucy
Posts: 585
Joined: 19 Oct 2016 12:50

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby Tucy » 19 Oct 2018 18:04

Where did this"Asian hotel" idea come from?
Last edited by Tucy on 22 Oct 2018 16:29, edited 1 time in total.

User avatar
dch526
Posts: 70
Joined: 21 Oct 2016 09:12

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby dch526 » 22 Oct 2018 15:27

NdoorTX wrote:I wish they could retain it and build a tall, slender tower towards the rear of the property that would house the hotel/ condo portion. It can be a super skinny that finally pushes past 20 floors. Maybe 35-40. Is that allowed here?


Sky House tried to build a tower near hear a few years ago before going with the 2nd tower in Victory Park. The reason why it didn't happen had to do with the FAA denying the height increase to something like 290' I believe FAA had it capped around 250' So, that will probably be about the max height for this site as well.

User avatar
Kelley USA
Posts: 524
Joined: 27 Oct 2016 12:46

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby Kelley USA » 22 Oct 2018 16:06

Tucy wrote:Where did this"Asian hotel" idea gone from?


It came from an update in Candy's Dirt... Here's the paragraph from the article:

2999 Turtle Creek
Built in the 1990s by developer John Eulich, the property changed hands last July, being purchased by Lincoln Property Company. The plan was to retain the French Renaissance building while constructing a high-rise behind. There’s plenty of space on the two-acre dog-leg parcel. Word comes to CandysDirt.com that plans are firming up for the high-rise with a five-star Asian hotel rumored to have signed a deal. If true, it would mark the third five-star hotel within a block – The Mansion flanked by 2999 and Prescott’s unnamed hotel at 2727 Turtle Creek. I wonder if 2999 Turtle Creek will also have bazillion dollar condos? Stay tuned.
Lincoln is also due back at the Oak Lawn Committee and City Plan Commission in October with revised plans for their contentious Lincoln Katy Trail project.

That’s quite a lot of goings-on in such a small space.

Tnexster
Posts: 2253
Joined: 22 Oct 2016 16:33
Location: Dallas

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby Tnexster » 22 Oct 2018 18:23

If not Mandarin, what other Asian flag could it be?

User avatar
Matt777
Posts: 669
Joined: 28 Oct 2016 09:10

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby Matt777 » 22 Oct 2018 19:37

Tnexster wrote:If not Mandarin, what other Asian flag could it be?


The Peninsula is the only "well known" brand that I can think of. Imagine getting both a Mandarin Oriental and a Peninsula Tower in this area!

There's also Banyan Tree and Raffles but neither have locations in the USA, yet. Rosewood, while founded in Dallas, is now technically a Hong Kong based company.

An outlier could be a Chinese brand with deep pockets wanting to make a splash with an American hotel.

User avatar
CTroyMathis
Site Admin
Posts: 258
Joined: 13 Oct 2016 19:51

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby CTroyMathis » 23 Oct 2018 17:07

While it is likely to be a struggle to be approved locally or by the FAA for a lot of extra height, this project has a reach-out at the FAA for up to 325'.
https://oeaaa.faa.gov/oeaaa/external/se ... 26&row=496

DPatel304
Posts: 1622
Joined: 19 Oct 2016 18:49
Location: Turtle Creek

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby DPatel304 » 25 Mar 2019 11:00

Image

I walk by this place fairly often, and this is the first time I noticed this sign there. It's possible it has been there for a while and I just never noticed it though.

User avatar
eburress
Posts: 596
Joined: 19 Oct 2016 18:13

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby eburress » 25 Mar 2019 11:56

Good for you for walking anywhere over there. With Lee park (or whatever it's called now), Turtle Creek, and the Katy Trail, there's so much good stuff to walk to but it's still so rare that anybody does.

DPatel304
Posts: 1622
Joined: 19 Oct 2016 18:49
Location: Turtle Creek

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby DPatel304 » 25 Mar 2019 13:22

eburress wrote:Good for you for walking anywhere over there. With Lee park (or whatever it's called now), Turtle Creek, and the Katy Trail, there's so much good stuff to walk to but it's still so rare that anybody does.


Haha, thanks! I actually live basically right across the street from where I took this picture, so not really much of a walk for me.

I am trying to make more of an effort to just walk and use public transit these days. I figured sit on this forum just waiting for Dallas to become this thriving city with tons of street life, but I've realized that all cities have to start somewhere, and walking the streets is sorta my way of contributing to the revival of Dallas. One person won't make much of a difference, but eventually other people will notice me walking on certain streets and might feel better about also walking those same streets. That's partly why I've tried to get this forum meet-up to happen, because I know a lot of people here would like to see the same thing I would like to see, so we might as well make a small effort to be the change we want to see.

I definitely feel like the Turtle Creek is highly under-utilized right now. Unfortunately there's a lot of trash there, and seems like a couple of homeless people live along the trail, but it's a nice contrast to the Katy Trail and they actually can form a bit of a loop as well for people who want to walk/run it.

User avatar
CTroyMathis
Site Admin
Posts: 258
Joined: 13 Oct 2016 19:51

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby CTroyMathis » 28 Jun 2019 23:48

With a grain of salt, just go ahead and call this a Mandarin Oriental if they like the local plans approved in March-ish and their own spreadsheets. This week was interesting with the tire-kicking (competitor comparisons) at other locations in the area such as at least one high-end hotel around Lower McKinney with all the development players involved in this site to include a lead at the arch., dev., invest. firms, etc. and the CEO of MO. And, the 325' was approved.

User avatar
NdoorTX
Posts: 179
Joined: 21 Nov 2016 02:27

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby NdoorTX » 29 Jun 2019 00:23

^^ are the developers still dumb enough to take the current structure down with this proposal? I hope not...^^

Tnexster
Posts: 2253
Joined: 22 Oct 2016 16:33
Location: Dallas

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby Tnexster » 29 Jun 2019 10:28

CTroyMathis wrote:With a grain of salt, just go ahead and call this a Mandarin Oriental if they like the local plans approved in March-ish and their own spreadsheets. This week was interesting with the tire-kicking (competitor comparisons) at other locations in the area such as at least one high-end hotel around Lower McKinney with all the development players involved in this site to include a lead at the arch., dev., invest. firms, etc. and the CEO of MO. And, the 325' was approved.


325'...what is that about 27-30 floors?

willyk
Posts: 527
Joined: 18 Oct 2016 20:20

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby willyk » 01 Jul 2019 01:51

This seems like an odd location for a hotel now. I could have seen it a few years back, but now this location is quite disconnected and remote from all of the business and cultural activity that I think their guests would want to be near. It’s a beautiful site, but Victory, Field St., Ross Ave and McKinney all make much more sense.

User avatar
Otronivel81
Posts: 4
Joined: 19 Jul 2018 15:16

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby Otronivel81 » 01 Jul 2019 07:36

Tnexster wrote:
325'...what is that about 27-30 floors?


With a first floor at 20'-0" probably some form of amenity level at 15' to 20' and the typical hotel floor at 10'-0" 27-30 floors seems right.


I wouldn't count on it though. Seems like the wrong location for this many rooms.

User avatar
Cbdallas
Posts: 386
Joined: 29 Nov 2016 16:42

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby Cbdallas » 26 Sep 2019 16:21

This little snippet was in the news. Looks promising for this to start moving forward.

https://www.bizjournals.com/dallas/news ... creek.html

Tnexster
Posts: 2253
Joined: 22 Oct 2016 16:33
Location: Dallas

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby Tnexster » 28 Sep 2019 12:07

I wonder what this will look like? Nice that they have a hotel-condo planned.

User avatar
R1070
Posts: 721
Joined: 26 Oct 2016 21:00

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby R1070 » 28 Sep 2019 16:41

There's a sign in the front of the property that shows a glass building on the site.

User avatar
jecha
Posts: 4
Joined: 15 Dec 2016 00:54

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby jecha » 28 Sep 2019 20:55

https://www.virtualbx.com/construction- ... nce-tower/

I found this from March. Maybe old news?

User avatar
R1070
Posts: 721
Joined: 26 Oct 2016 21:00

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby R1070 » 28 Sep 2019 21:22

If that’s not the same rendering, it’s very similar.

Tnexster
Posts: 2253
Joined: 22 Oct 2016 16:33
Location: Dallas

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby Tnexster » 29 Sep 2019 21:39

That appears quite nice!

User avatar
Kelley USA
Posts: 524
Joined: 27 Oct 2016 12:46

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby Kelley USA » 30 Sep 2019 09:12

There was also an article in the DMN about a week ago... The rendering in the link above does appear to be accurate. There is a similar photo in this DMN story.

https://www.dallasnews.com/business/rea ... in-dallas/

User avatar
Cbdallas
Posts: 386
Joined: 29 Nov 2016 16:42

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby Cbdallas » 11 Nov 2019 11:47

Mandarin Oriental heading to 2999 Turtle Creek site

https://www.bizjournals.com/dallas/news ... s_headline

DPatel304
Posts: 1622
Joined: 19 Oct 2016 18:49
Location: Turtle Creek

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby DPatel304 » 11 Nov 2019 13:02

Yes! Super excited for this as it is just down the street from me. Finally some action in the Turtle Creek area.

User avatar
Cbdallas
Posts: 386
Joined: 29 Nov 2016 16:42

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby Cbdallas » 11 Nov 2019 13:39

I think Turtle Creek area is about to get a lot more urban and active.

User avatar
jetnd87
Posts: 101
Joined: 08 Jan 2019 16:00

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby jetnd87 » 11 Nov 2019 13:41

What other projects are slated for TC?

User avatar
R1070
Posts: 721
Joined: 26 Oct 2016 21:00

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby R1070 » 11 Nov 2019 13:44

Nice! I figured M.O. would go in to the other mixed use project where the building was just demo’d. This is a better location.

User avatar
jetnd87
Posts: 101
Joined: 08 Jan 2019 16:00

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby jetnd87 » 11 Nov 2019 14:42

Wonder if Hillwood's proposed project on Cedar Springs / Bowen & Turtle Creek will ever get off the ground. I know they just (finally) kicked off the Victory Park building, but they seem to make very public develop announcements that go nowhere fast (e.g., Turtle Creek project, Downtown BoA project).

User avatar
tamtagon
Site Admin
Posts: 1721
Joined: 16 Oct 2016 12:04

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby tamtagon » 11 Nov 2019 17:44

ZaZa is going to have to expand or get left behind.

Tnexster
Posts: 2253
Joined: 22 Oct 2016 16:33
Location: Dallas

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby Tnexster » 11 Nov 2019 20:57

Big week for new hotels.

willyk
Posts: 527
Joined: 18 Oct 2016 20:20

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby willyk » 11 Nov 2019 22:33

This is a beautiful site and I wish them success, but is this a good location for business travelers? No office centers or restaurant/retail concentrations, unlike Uptown or Ross Ave. Maybe they draw a different customer?

itsjrd1964
Posts: 675
Joined: 28 Jul 2018 07:38

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby itsjrd1964 » 12 Nov 2019 02:22


User avatar
BigD5349
Posts: 9
Joined: 30 Jan 2018 16:12

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby BigD5349 » 12 Nov 2019 20:19

Image

User avatar
eburress
Posts: 596
Joined: 19 Oct 2016 18:13

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby eburress » 12 Nov 2019 22:05

Man that's pretty!!

Tnexster
Posts: 2253
Joined: 22 Oct 2016 16:33
Location: Dallas

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby Tnexster » 13 Nov 2019 09:56

Okay, this is nice!

DPatel304
Posts: 1622
Joined: 19 Oct 2016 18:49
Location: Turtle Creek

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby DPatel304 » 13 Nov 2019 10:11

So is the building that currently sits here being razed? I'm happy to have more dense development here, but this is actually a pretty lovely looking building.

Tnexster
Posts: 2253
Joined: 22 Oct 2016 16:33
Location: Dallas

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby Tnexster » 13 Nov 2019 17:15

Isn't this next to the piece of land where Hillwood has a planned office project?

User avatar
Tucy
Posts: 585
Joined: 19 Oct 2016 12:50

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby Tucy » 14 Nov 2019 10:33

DPatel304 wrote:So is the building that currently sits here being razed? I'm happy to have more dense development here, but this is actually a pretty lovely looking building.


Apparently so, at least according to Steve Brown:

"Announced last fall, the Turtle Creek tower will replace a 9-year-old office building at 2999 Turtle Creek Blvd., near the Rosewood Mansion on Turtle Creek hotel. The French Renaissance-style office building housed offices for the late Dallas real estate developer John Eulich."

As an aside, I wouldn't hold my breath waiting on this particular project. ;)

User avatar
jetnd87
Posts: 101
Joined: 08 Jan 2019 16:00

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby jetnd87 » 14 Nov 2019 10:37

Even with the CEO of Mandarin Oriental's announcement?

User avatar
Tucy
Posts: 585
Joined: 19 Oct 2016 12:50

Re: Turtle Creek : 2999 Turtle Creek Blvd

Postby Tucy » 14 Nov 2019 11:00

jetnd87 wrote:Even with the CEO of Mandarin Oriental's announcement?


Yes, even with the CEO of Mandarin Oriental's feel-good press release.


Who is online

Users browsing this forum: MSN [Bot] and 19 guests

Login