Billionaire Demoed Historic Estate, Wants 65-Foot Tall House

A billionaire banker with a proclivity for demolitioning historic properties is moving forward with plans to build a towering estate on the former Cox Mansion site in Highland Park.

Andrew Beal’s request to change the zoning height restrictions for his Highland Park property at 4101 Beverly Drive was approved on Jan. 23 in a 3-2 vote, the Dallas Morning News reported.

The zoning change, which raises the height limit for certain properties in the area, will allow Beal to build a mansion that includes a glass and steel cupola, pushing the height of the estate to 65 feet.

Beal’s request was aimed at properties with a zoning designation applied to large single-family homes on estates of at least 5 acres. Only four properties in the district, including Beal’s, will be eligible to use the new height allowance.

The decision comes after months of debate over the future of the site, which was home to the historic Cox Mansion until its demolition in August.

This isn’t the first historic property in Highland Park that Beal has purchased and demolished. In 2016, he acquired the former estate of Margaret and Trammell Crow at 4500 Preston Road for nearly $60 million, then demolished the property and eventually sold the vacant lot to Dallas attorney Leslie Ware.

The Cox Mansion, built in the 1910s and designed in the Beaux Arts style, was a prominent landmark in Highland Park. It was owned by Dallas oil tycoon Edwin L. Cox and socialite Susie Rose Lloyd, who made significant additions, including a third-floor ballroom and a caviar room.

Beal, founder of Plano-based Beal Financial Corporation, determined that a larger home would better suit him. His new home is being designed by architect Peter Pennoyer and will align with the aesthetic of the neighborhood, his representatives have said.

However, the decision to allow a mansion to rise five or six stories has sparked controversy among local residents, who worry that demolishing such an iconic home will lead to more demolitions.

Preservation Park Cities board member Larry Good called it “a dangerous precedent.”

The Highland Park Town Council still has to vote on the proposed changes, which is expected next week, before Beal can move forward with construction.

— Andrew Terrell