Preston Hollow Village master plan rendering: Provident Realty
The city has approved plans for the first phase of construction at the northwest corner of Walnut Hill and North Central, which will be developed over the next several years into the Preston Hollow Village. The 42 acres of land will be developed into retail, residential and office buildings.
The first phase will include construction of the building for anchor tenant Trader Joe’s, 46,000 square feet of office space, and over 60,000 square feet of restaurant retail, according to President of Provident Realty Leon Backes. He didn’t have an official start date for construction but said that it will begin within two weeks.
Backes calls the location “the gateway to the highest income areas in Dallas,” adding that the architecture of the development will be clean, timeless, and somewhat modern.
He says that he has worked closely with the surrounding neighborhoods for years to meet their requirements.
Preston Hollow Village retail rendering: Provident Realty
“The neighbors didn’t want big box retailers and they wanted the property to be mixed use development, so we met those requests” Backes says. He adds that there will be a tree-lined street with lots of outdoor patios. He says that “it won’t be like anything else in Preston Hollow.”
District 11 Councilman Lee Kleinman says that the neighborhood associations surrounding Preston Hollow Village, which include Glen Lakes, The Meadows, and Windsor Park, created a task force over five years to have a say about future plans for the land.
[quote align=”right” color=”#000000″]The task force worked with the developers to create a very complex planned district (PD) with several tracts, including restrictions on density, parking, traffic flow, and setback specifications. Kleinman says it’s one of the most specific PDs in the city that he has seen.[/quote]
The task force worked with the developers to create a very complex planned district (PD) with several tracts, including restrictions on density, parking, traffic flow, and setback specifications. Kleinman says it’s one of the most specific PDs in the city that he has seen.
Advocate contacted the three neighborhood associations that constitute the task force for additional feedback, but none were available for comment at the time of publication.
Kleinman says that he’s personally very excited about the project.
“The development will generate new tax revenue for the city and help take some of the burden off of homeowners.” Kleinman says.
Trader Joe’s spokeswoman Allison Mochizuki of Trader Joe’s confirmed that the Trader Joe’s in Preston Hollow Village will open in 2014, but unfortunately had no additional information about the store at this time.
2014 will also mark the start of 500 residential units within three separate 7-story residential towers in the Preston Hollow Village. Backes says construction will start in the first quarter of 2014 and that the units will be amenity-driven, similar to those found in the upscale Turtle Creek neighborhood.
