Developers have abandoned their plan to build a luxury apartment complex at the northeast corner of Preston and Northwest Highway, replacing an existing. Says Mark Culwell of Transwestern,
The developers scaled back their plan twice. Originally, it called for eight stories and 296 units. The latest revision knocked it down to three stories and 164 units. Transwestern also intended to work with TxDOT on alleviating congestion at the intertection.
Still, the proposal spurred an intense debate about density and traffic in the neighborhood. Most recently, Councilwoman Jennifer Staubach Gates told us of her plan to launch a land use study of the Preston Center area, which may or may not include the property that Transwestern sought to redevelop.
This is the second hotly contested re-zoning proposal to dissipate in the Preston Center area amid neighborhood opposition. Crosland Group wanted to build a 27-story high-rise known as Highland House, but the plan stalled. Since then, real estate investor Leland Burk (who ran against Gates for the District 13 council seat) has taken over ownership of the property.
Initial plans for the updated Preston Center study — including the cost and boundaries — still are underway, and it likely will take months to begin, and then a year to complete during which re-zoning approvals would be discouraged. Such a study has not been completed in the area since 1989.