DALLAS — Editor's note: This article was originally published in the Dallas Business Journal here.
Newly filed public documents reveal fresh details for a towering residential high-rise planned in one of Dallas' hottest spots for development.
The Federal Aviation Administration has given the green light for Colorado-based UDR Inc. (NYSE: UDR) to construct a 25-story multifamily building at 2743 Turtle Creek Blvd., determining that it would have no substantial impact on air navigation, according to a Feb. 15 filing with the government agency.
Projects surpassing 200 feet above ground level are required to file notice with the FAA. Construction of the 308-foot tower could begin in June 2025 and last until December 2026, the documents indicate. Dallas-based architecture firm HKS Inc. is listed by the FAA as a UDR representative.
Even with the FAA's OK, the developer will still need to follow the city's planning and zoning process and receive a building permit.
Attempts to reach UDR and HKS for more information were unsuccessful. Little has been heard about the project since 2022, when the company purchased the site for $90.2 million, according to an earnings release from the time.
Other developers had planned office, hotel and residential towers on the former site of an office building that once housed Republic Insurance, according to the Dallas Morning News.
The Turtle Creek area, just north of Uptown Dallas, has attracted high-profile projects despite the difficult financing environment.
Just next door to UDR's site, the Hanover Co. is building a 21-story story residential tower and has filed plans for a second building that could rise 20 stories. And about a block northwest, Validus Development Corp. plans to build a 30-story high-rise on a vacant corner lot north of Hood and Brown streets.
A $475 million Four Seasons Hotel is planned just east of UDR's property. That project has been proposed to include 233 hotel rooms, a four-level underground parking garage, 118 condominiums and a 10,000-square-foot ballroom.
UDR owned nearly 6,000 apartment units in the Dallas-Fort Worth area at the end of last year, according to financial filings. Its properties include Thirty377 in Uptown and Vitruvian Park in Addison, among many others.
The firm owned a little more than 58,000 units nationwide at the end of 2023, making it the 17th-largest apartment owner in the nation, according to the National Multifamily Housing Council.
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