Hines Pursues Three-Tower Development in Trendy Uptown Dallas

A Houston-based real estate titan is spearheading a three-tower project that will keep the Uptown Dallas development train in overdrive.

Hines, in partnership with Dallas-based Stockdale Investment Group, wants to build office, apartment and senior living buildings, totaling more than 1 million square feet, at 4444 McKinney Avenue, the Dallas Business Journal reported.

The City Plan Commission recently approved the developers’ request to rezone the more than 3-acre property, which Stockdale has owned for about 12 years. The project, called Knox Promenade, is slated for 282 multifamily units, 220 senior living and memory care units, 355,000 square feet of office space and 89,000 square feet of retail and restaurant space.

A construction timeline has yet to be established, and the proposal still needs final approval from city council. Hines remains tightlipped, as it’s “concentrating on advancing several critical phases of the development,” a company spokesperson told the outlet.

The developers are seeking incentives through the city’s mixed-income housing program, meaning the project will either include affordable units, or Hines will pay a fee that will go toward affordable housing elsewhere in the city.

In addition, Knox Promenade boasts design elements aimed at enhancing the pedestrian experience and promoting community engagement. The project will feature expansive public spaces, including the Grove, which will replace surface parking with lush landscaping.

The proposed development is near another three-tower project spearheaded by Trammell Crow Company and BDT & MSD Partners, advancing Uptown’s emergence as a hotbed for development.

Other notable Uptown projects in the pipeline include 23Springs, an under-construction Class AA office building by a venture of Granite Properties and Highwoods Properties. It will rise 26 stories and span 626,000 square feet, with underground parking and separate buildings for restaurants.

Kaizen Development Partners and public TV and radio broadcaster KERA are plotting a mixed-use project that’s slated for a 400,000-square-foot office tower, a residential high-rise and roughly 20,000 square feet of restaurant and retail space.

In March, Lincoln Property Company acquired a 4-acre development site at 2500 Cedar Springs Road, with plans for up to 500,000 square feet of office space, 250 apartments and a 200-room luxury hotel.

—Quinn Donoghue