In a deal that will have Uptown real estate watchers leaning in, JLL Capital Markets announced Monday that it arranged the sale of a 1.28-acre development site at 3601 Cedar Springs in Dallas’s Turtle Creek neighborhood. The buyer is an entity called KC Turtle Creek Owner LLC, and the seller is Bill Y Bob Partners LLC. The transaction hands off a rare PD 193 (O-2) parcel with significant height and density rights to a new owner.
According to JLL, the site carries PD 193 (O-2) zoning and is positioned for multifamily, office, or hotel development, with a maximum permitted height of 240 feet and an approved floor-area ratio of 4.5:1. The marketing also touts a Walk Score of 85 and one-mile demographic metrics that developers routinely scrutinize when sizing up Uptown-area parcels.
The property sits near the southernmost stretch of Cedar Springs Road, about one block from historic Turtle Creek Park and roughly two blocks from the Katy Trail, with hundreds of nearby dining and nightlife options highlighted in the sales pitch. As reported by Yield PRO, those location perks were a central selling point for prospective buyers and brokers…