A Dallas real estate group plans to build a 28-story residential tower on the site of the old condos in the city’s Oak Lawn neighborhood.
M&A Development will build 275 luxury units at 4211 Newton Ave., a half block west of Oak Lawn Avenue and near the border of Highland Park.
The more than 400,000-square-foot building will be a short walk from the luxury fitness and health club Equinox.
The project is in its early stages. M&A hasn’t closed on the land. A 33-condo property, Chimney Six Condominiums, currently sits on the site.
The owners of the complex collectively put the site on the market, and the property is under contract, said Scott Theeringer, M&A’s president and CEO.
A zoning change is required. The group is seeking a height of 325 feet, but current zoning only allows for 36 feet. The development team is drumming up neighborhood support before heading to the Oak Lawn Committee.
It could be two years before the group can break ground, said Evan Beattie, chairman and CEO of GFF Design, the project’s architect.
The goal is to increase walkability and give the neighborhood a few amenities while increasing density at a site surrounded by surface parking lots, Theeringer said.
“We really wanted to take that into consideration when we look at the site,” he said. “How are we impacting everybody around the site? How can we create a space that feels right?”
Plans call for roughly 9,000 square feet of open space for the community to enjoy. It includes water elements and is designed to block out the noise of the street. Mature trees will line the sidewalks. The tower will sit 65 feet back from the property line, and indented parallel parking will help the street feel wider.
The tower makes up less than 40% of the 1-acre site, and the project will feature four levels of below-grade parking. A resort-style pool highlights the property’s second-floor amenity level. Asking rents will be at the highest end of the market.
“We’re building this project to be the highest level of luxury,” Beattie said. “We’re at the doorstep of Highland Park. For this project to work, it needs to command the highest, very luxurious rents, and it needs to be a luxurious building.”
GFF and Dallas-based landscape architect Studio Outside are part of the project’s design team.
The 4211 Newton project joins other planned high-rise residential towers in Oak Lawn. The Halperin family plans to transform a strip mall at 2615 Oak Lawn Ave. into apartments.
The Halperins plan to build 310 apartments. The average unit size will be around 1,000 square feet and the group’s current height request is a maximum of 270 feet.