A Californian promoter buys the Turtle Creek shipyard

A California-based developer has purchased a prime construction site in Turtle Creek.

Nexus Development Corp. plans to build the 25-story residential tower at the vacant corner of Turtle Creek Boulevard and Fairmount Street, just north of Dallas’ Uptown neighborhood.

The Alive Tower at Turtle Creek would include a mix of market and senior living units, according to plans the developer previously presented to the Oak Lawn committee.

The one-acre property was once owned by a Canadian developer who was granted zoning to build a 20-story, $225 million luxury condominium.

Nexus acquired the site from Centurion American Development Group which acquired the property in mid-2021.

Nexus’ purchase of the land was financed by a $16 million loan from Pacific Western Bank.

Based in Santa Ana, Nexus has a proven track record in developing senior housing and hotel projects.

The California company building is one of three skyscrapers under construction along this stretch of Turtle Creek.

Next door, on the site of Turtle Creek Gardens condos, Houston-based developer Hanover Co. plans to build the $170 million 21-story apartment at 2525 Turtle Creek.

And Colorado-based UDR Inc. in June purchased the vacant property at 2727 Turtle Creek, near the Mansion on Turtle Creek Hotel. The development site was previously occupied by an office building that once housed Republic Insurance.

About Gloria Turner

Check Also

AZ Big Media A record 29% of homes for sale are new construction

Twenty-nine percent of U.S. single-family homes for sale in the third quarter were new construction, …