One of the most significant redevelopment sites near the Uptown neighborhood of Dallas, Texas has been sold to a local developer and investor who plans to transform the abandoned industrial site into a mixed-use district.
The 10-acre-plus Xerox property just north of the downtown has been purchased by Dallas-based De La Vega Development.
The new owner — which has retail and mixed-use properties in a half-dozen states — is working on designs for a retail, restaurant, hotel, office and residential complex on the property, which is adjacent to the Cityplace development.
The project is called Overstreet on Seventyfive, and should be more to the liking of nearby homeowners. Neighborhood groups had sued developer Trammell Crow over their earlier plan to build a big box warehouse store and low-rise retail on the adjoining property. The residents said they wanted urban-style development, which Overstreet promises to deliver.
Overstreet will be a 1.4 million-square-foot mixed-use project with four buildings. It will deliver a proposed 767,000 square feet of office space, a 150-room hotel, 59,500 square feet of retail and restaurant space and a 462,000-square-foot residential tower.