Cranes and construction crews have been a familiar sight on the corner of Walnut Hill Lane and North Central Expressway since construction on Phase II of Preston Hollow Village started in 2013. The mixed-use development is now preparing for a new element of the five-phase project: residential.
“We’re going to continue the mixed-use spirit with our first residential units,” said Jerry Jackson, vice president of development at Provident Realty Advisors, which owns the 42-acre property.
According to Jackson, the complexes, which were designed by Ziegler Cooper Architects, feature more than 500 apartments designed to appeal to three different demographics. One building will target empty nesters looking to downsize without forgoing the amenities of living in a walkable environment. The second will market to young couples and families. The final complex will be designed for young professionals looking to move out of their first apartment for a better work, live, play environment.
“It’s quite unique to build that many residential apartments in that area at one time to appeal to three different market segments,” Scott Ziegler, senior principal architect with Ziegler Cooper Architects, said.
The newest additions will include seven stories of residential on top of one story of retail.
“I can tell you the demand is extremely strong,” Jackson said. “One thing that we have done is we have worked to try to have a very unique unit mix and tenant mix.”
According to Ziegler, the residential aspect will include amenities such as a sports lounge, gaming areas, a barista bar, and a pool terrace with a swim-up bar, creating an environment set for an active social scene.
“We are looking to create … areas of gathering that are authentic and have their own personality,” Ziegler said.
Jackson said Preston Hollow Village is planning to open its first residential units in Phase II during summer 2017.
Along with residential, the shopping center will add more retail and restaurants to the area. Jackson said they are trying to attract tenants unique to Preston Hollow and Dallas, such as Blatt Beer & Table and Matchbox, which both opened during Phase I earlier this year.
While Jackson couldn’t name any potential tenants, he did mention a steak concept that would be new to Texas.
A public plaza area will include a number of elements, such as water, fire, and foliage, that Jackson believes will create a positive feel for Preston Hollow Village.
“As we say, we see nothing but 75 and sunny here at Preston Hollow Village,” Jackson said. “We are excited about it becoming a great community and an area for people to gather.”