Major Preston Center redo to bring new towers by 2028
A long-planned redevelopment that will bring new high-rise apartments and office space to Dallas’ Preston Center is moving forward.
Ramrock Real Estate LLC, in partnership with Lincoln Property Company, HKS and Willow Bridge Property Management, provided a timeline for its long-awaited project, 8300 Douglas on Wednesday.
The project will feature a 12-story, 300,000-square-foot office building; a 17-story, 147-unit residential tower; a 35,000-square-foot rooftop park; and 24,000 square feet of ground-floor retail and restaurant space.
The project is expected to break ground next March and be completed by 2028. Ramrock is the project’s owner and sponsor.
Lincoln Property Company is the developer and will handle office leasing/property management. Willow Bridge will handle the residential property management. HKS is serving as the project’s design architect, with Austin-based Michael Hsu Office of Architecture handling office interior design. SJL Design will serve as the residential interior designer, and OJB is the landscape architect.
“Our goal is to create meaningful experiences for tenants and residents that match the value of this real estate,” said Mark Buskuhl, global practice director for commercial/mixed-use at HKS. “Preston Center is a Dallas landmark, and we’re proud to play a role in reimagining this local asset by creating a dynamic public realm with new restaurants and shops for the neighborhood that will serve as a catalyst for future development.”
Each floor on the 12-story office building is approximately 29,000 square feet. Nearly 35,000 square feet of outdoor space will include 11 balconies and two penthouse landscaped terraces.
Ramrock Real Estate LLC, in partnership with Lincoln Property Company, HKS and Willow Bridge Property Management, will bring new office and residential towers to Preston Center.
Courtesy of HKS
Amenities will include a full-service health club, wine room, conference facilities and catering kitchen.
The property is fronted by Luther Lane and Westchester Drive, which offers immediate access to restaurants, retail and services. The site is close to the Dallas North Tollway and other major thoroughfares.
The project has been in the works for years. Plans were approved by the city’s planning commission and City Council last summer.
Hudson Dozier, vice president at Lincoln Property Company, said in a statement that the market response has been “extraordinary.” The firm has more proposals than available space.
Dozier said the interest is the result of the “flight to quality” trend reshaping the region’s office market.
“Tenants are demanding Class AA space with amenities that rival those of a luxury hotel, along with seamless, walkable access to high-end dining and retail,” he said. “This project sits at the epicenter of Dallas’s most affluent residential neighborhoods — Preston Hollow and the Park Cities. For financial, legal, and professional service firms, having a new, vibrant workplace in this precise location is a powerful competitive advantage that simply cannot be replicated anywhere else in the city.”
Ramrock Real Estate LLC, in partnership with Lincoln Property Company, HKS and Willow Bridge Property Management, will bring new office and residential towers to Preston Center.
Courtesy of HKS