Oak Lawn complex approved
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12:00 AM CST on Wednesday, March 1, 2006
By STEVE BROWN / The Dallas Morning News
Developers have gotten preliminary approval to knock down a block of Oak Lawn apartments to make way for a new residential complex.
Winston Capital Corp., which developed the Tribeca condominium complex on Cedar Springs Road at the Dallas North Tollway, is working on the project a couple of blocks away at Hawthorne Avenue.
The developer plans to build about 200 rental units in three- and four-story buildings, according to plans approved recently by the Dallas City Plan Commission.
"The four-story construction will be along Cedar Springs," said Winston Capital principal Stewart A. Bul. "As soon as the City Council approves this, we will go forward with our plans."
The 3.2-acre apartment development would replace the 40-year-old Tecali apartments at 4533 Cedar Springs.
"It's time to clean up the older stuff and bring in something a little more urban and high-density," Mr. Bul said.
Winston Capital replaced older apartments with its Tribeca condo project in 2003. Since then, demand for high-end apartments has soared. "Right now, we like what we are seeing in the rental market," Mr. Bul said
The area of Oak Lawn northwest of the tollway is starting to redevelop with major apartment complexes planned by FirstWorthing Corp. and Alliance Communities.
Winston Capital's developments include both single-family lot construction and high-density housing. The builder is working on plans for a high-rise condominium complex in Uptown.
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