A Chicago developer - Fifield Cos - has purchased a site near Dallas' Turtle Creek to build a high-rise apartment building.
The property Fifield purchase is now occupied by the 26-unit Wimbledon Place Condominiums property built in 1973.Mike Kennedy and Paul Harmon negotiated the property purchase from the condo owners and brokered the sale to Fifield.
“The Avison Young team’s unique experience in working closely with homeowner associations and multiple owners on complex property transactions was key to unlocking the tremendous redevelopment value of 3515 Brown Street,” Kennedy said. “There are many other properties in Uptown and Turtle Creek with similar unrealized potential.”
Fifield, which has a track record of more than $7 billion in projects, has hired Dallas architects GFF to design the apartment tower with about 180 units. “We are currently working on construction financing and hope to break ground late this year or early the next,” Westfall said. The developer had been scouting the Uptown and Turtle Creek markets for the last few years looking for opportunities. The company previously owned Dallas-area apartments.Related:Fifield’s site is surrounded by other high-rise developments.a 21-story apartment tower on the site of the Turtle Creek Gardens condominiums at 2525 Turtle Creek Blvd.
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