A new retail and residential project aims to develop neighborhood harmony along with its shops and town homes.
The proposed Forestwood complex on the northwest corner of Inwood Road and Forest Lane would replace existing 200-plus townhomes on property that have occupied the land since the early 1970s. The Daniel family has owned the 29-acre site, which once was a farm, for more than 150 years.
“We’re really excited about the possibility of redeveloping that space and what it would bring to the neighborhood,” said Duke Nelson, a nearby resident and community volunteer. “This will be great if it’s done properly.”
The new proposal would include a cluster of townhomes and luxury flats, along with a retail component and a grocery anchor, all tied together with plentiful open space and pathways.
Plus, Jesuit College Preparatory Academy will purchase 6.3 acres on the north end of the property for an expansion of its athletic fields and parking.
“Our whole concept is to redevelop this as part of the fabric of the neighborhood,” said William Dahlstrom, of Jackson Walker LLP, which is representing the Daniels. “We think it provides some amenities that aren’t there.”
The proposal includes a maximum of about 350 townhomes, each with its own garage, and buildings no taller than three stories.
The project is a partnership between Regency Retail and multifamily developer Greystar. Dahlstrom said that although the plans require a rezoning of the property, there’s no timetable yet for submitting plans to the city of Dallas.
As for Jesuit, its need for parking has been an issue for many years, with students typically scattered on lots along both sides of Inwood. And the lack of green space makes practice inconvenient for some athletic teams that must share fields.
The Jesuit campus moved to its current location from the intersection of Oak Lawn and Blackburn in 1964.
“We’ve been here a long time. We’ve just been patient,” said Jesuit president Mike Earsing. “It’s something that we always had our eyes on, if it was ever possible to buy some of that property. We’re sort of landlocked.”
Nelson said he hopes the development will be a catalyst to drive up property values.
“It brings us more in line with other neighborhoods that have a central shopping center,” Nelson said. “That will be important to people moving into the neighborhood in the future.”