Developers will tear down an Uptown office building to make way for high-rise condominiums.
Winston Capital of Dallas and Realty Capital Partners of Colleyville are teaming up to build a 15-story residential tower at 3003 Carlisle St. near Allen Street.
The developers recently bought the office building from an investment partnership, Stewart Bul, Winston Capital's director of development, said Tuesday.
"We plan to put a high-rise condo project along the Katy Trail," he said. "We like that location."
The small development site backs up to the popular pedestrian trail, giving residents direct access.
The builders have hired Architectural Group International Inc. of Dallas to design a concrete, glass and steel tower with about 120 units. "It's going to be a very sharp-looking, more contemporary tower," Mr. Bul said.
Work is set to begin on the project next spring.
The smallest condos in the building will cost between $300,000 and $350,000.
The residential tower will replace a two-story, 12,000-square-foot office built in 1975.
The sale is the latest in a series of recent transactions along Carlisle Street near Turtle Creek.
Apartment investor and developer Gables Residential Trust has bought two nearby rental communities. A third apartment complex nearby at Carlisle and Bowen is also being demolished to make way for new residential development.
E-mail stevebrown@dallasnews.com
