This map shows the boundaries of PD-15 on Northwest Highway in Preston Hollow.
Rumor has it new owners of condo complexes the Diplomat and Royal Orleans (see above) could mean a whole new ballgame at the Preston Center. Plans to develop the site have been underway for years, based on negotiations with the current owners. What the new, yet to be identified owners bring to the mix remains to be seen.
The real estate blog Candy’s Dirt broke the story, but did not cite any sources for the information.
The two pieces make up a small but primely placed piece of the Preston Center pie at just under 2-acres, with a total of 34 residential units. PD-15 land is is zoned for 52.4 units per acre, which could mean a serious uptick in density. Currently, the Diplomat contains 14 condos while Royal Orleans has 20, which both could be increased to 52.
The Preston Center task force last formally mentioned PD-15 in February, when it was still considering a wide scope of development plans. At least one of those plans called for leaving the site alone. PD-15 also includes Preston Tower, Preston Place, Athena and Diamond Head condominiums.
Check put the latest plans discussed by the task force in July here, which include additional parking and retails, along with green spaces, sidewalks and traffic calming measures through neighborhood streets.
