Real-estate development firm Transwestern has abandoned its plans to build a luxury apartment complex at the northeast corner of Northwest Highway and Preston Road.
The company had been under contract to purchase about three acres at the site and build a six-story multifamily complex to replace an aging collection of condos and townhomes.
The decision marks another victory for a group of influential local homeowners, including former Dallas Mayor Laura Miller, who peppered Transwestern with concerns about the proposed height and density of the project on a congested street.
“Transwestern and the owners of Town House Row have ended their contractual relationship concerning the property at the northeast corner of Northwest Highway and Preston Road,” said Mark Culwell, Transwestern managing director of multifamily development. “After nine months of working closely with the neighborhood, we appreciate the many residents who continue to support positive redevelopment for this very important location.”
The decision comes only a couple of weeks after Crosland Group decided against pursuing its plans for a 23-story apartment tower across the street at Preston Center.
The Dallas Plan Commission tabled its vote on rezoning for the tower this summer until a land-use study for Preston Center could be completed. Transwestern’s project never was up for consideration by the commission.