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Validus Development cleared a major hurdle to proceed with a residential highrise in Dallas’ Turtle Creek neighborhood.

Luis Gonzalez’s firm received approval from the Dallas Plan Commission to rezone the 0.75-acre site at the corner of Hood and Brown streets, bringing the developer’s plan for a 104-unit apartment building closer to fruition, the Dallas Business Journal reported. 

The rezoning to allow increased floor area comes after addressing neighborhood concerns. The plan includes burying parking, creating a landscaped parkway and ensuring convenient access for delivery vehicles, all while emphasizing sustainability.

Commissioner Melissa Kingston commended the project’s focus on larger units suitable for families, a rarity in the area dominated by one-bedroom and efficiency apartments. While the Oak Lawn Committee and some nearby residents expressed support for the project’s design and benefits, opposition from homeowners in a nearby condo complex concerned the project’s size and its potential impact on traffic.

Validius’ representatives defended the project, citing a traffic study indicating minimal impact. The developer also has a chance to earmark five percent of units as affordable housing, reserved for households earning 81 percent percent of the area median income —  a requirement facilitated through a city incentive program. 

However, there’s a possibility that Validius may opt to pay a fee to the city instead of providing affordable units, drawing criticism from Commissioner Tabitha Wheeler-Reagan

“In this particular area, there is a need for affordable housing,” Wheeler-Reagan told the outlet. “For us in the southern sector, we don’t believe that’s a great choice. … We would like to live on that side of town too.”

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Turtle Creek has emerged as one of Dallas’ hottest neighborhoods, attracting a slew of multifamily developers. Last summer, Fifield Companies bought 1.6 acres at 3515 Brown Street for $20 million, with plans to build a 24-story apartment high-rise. 

Houston-based Hanover Company is developing a pair of luxury apartment buildings in the neighborhood. The first one, Hanover Turtle Creek Tower, is slated to open in 2025.

—Quinn Donoghue 

The post Validius clears hurdle for Turtle Creek apartment highrise  appeared first on The Real Deal.

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