Turtle Creek area landmark to get redo
Maple Terrace apartments will go condo and add units
11:46 PM CST on Wednesday, March 9, 2005
By STEVE BROWN / The Dallas Morning News
http://www.dallasnews.com/sharedcon...race.7365f.html
The Trammell Crow Co. said Wednesday that it's working with owners of the historic Maple Terrace apartments near Turtle Creek to convert the building to condominiums. The Maple Terrace apartments were built in 1925. 'We will put it back to its grandeur,' said developer Art Lomenick. The project includes remodeling the 1925 landmark and building a condo tower. "We are in a redevelopment venture to save the old building and grounds," said Art Lomenick, a managing director for Crow Co. subsidiary High Street Residential. Crow formed High Street Residential three years ago to build residential and mixed-use projects in markets around the country. The Maple Terrace redo is its first high-profile project in North Texas.
High Street Residential and Maple Terrace's owners are seeking city approval this week to renovate the old apartment building. "We will put it back to its grandeur in the 1920s and 1930s," Mr. Lomenick said Wednesday. Developers said it was too early to announce prices, the number of condominiums or a start date for the project. The residents in the building aren't being asked to move out yet and will be offered a chance to buy the units. The seven-story Mediterranean-style building at Maple Avenue and Wolf Street was designed by British architect Sir Alfred Bossom, who was also responsible for Dallas' landmark Magnolia Building. The building cost $1 million to build and was laid out with more than 300 rooms that could be configured into various-size apartments.
Plans to redevelop Maple Terrace have been in the works for several years. In 2000, developer Frank Aldridge and David Corrigan, whose family has owned the building since the 1940s, announced plans to convert Maple Terrace into a luxury hotel. But with the recession in the hotel market, that project never got off the ground. Mr. Aldridge and Mr. Corrigan are working with High Street Residential on the latest redevelopment proposal. The city of Dallas' planning department has recommended approval of the project.
"We are going to build the new building in a complementary style," Mr. Lomenick said. "We are in the design process, and marketing will kick off in a couple of months." Across the street from the Maple Terrace, the owners of the 82-year-old Stoneleigh Hotel are working on a similar plan. Prescott Realty Group of Dallas is working with the Stoneleigh's New York owners to remodel the hotel and build a condominium high-rise.
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