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For Sale
High-Density, 1.59 Acre
Development Parcel
Dallas, TX
B R O W N S T R E E T | D A L L A S , T X
3515 BROWN
LIVE | WORK | PLAY
Seize one of the last rare opportunities to develop land in the prestigious neighborhood of Turtle Creek. Introducing a flexibly-zoned PD 193 MF-3 parcel that can accommodate a broad range of multi-family options, located at 3515 Brown Street.
2
SITE OVERVIEW3515 Brown Street, Dallas, Texas
• 1.59 Acre Parcel with 26 existing condominiums
• The site is currently zoned PD 193 MF-3
• Spectacular views of Uptown and the Turtle Creek Corridor
• Walkable environment to some of the great restaurants in Uptown
• Turtle Creek Park and Katy Trail are steps away
• New boutique hotel currently under construction next door
3
18 miles to DFW Airport
4 miles to Dallas Love Field Airport
1 mile to Dallas CBD/Uptown
1.8 miles to Knox District
.75 mile to West Village
.7 mile to Victory Park
.5 mile to Uptown
TURTLE CREEK BOULEVARDAPPROXIMATELY 7,627 VEHICLES PER DAY
35E
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114GEORGE BUSH TURNPIKE
DALL
AS N
TO
LLW
AY
IRVING
RICHARDSON
FORT WORTHFORT WORTH DALLASDALLASGRAND PRAIRIE
PLANO
ADDISON
FRISCO
ALLEN
MCKINNEY
LEGACY
FORT WORTH DALLAS
CARROLLTON
DFWAIRPORT
LOVE FIELDAIRPORT
ADDISONAIRPORT
LOCATION
Uptown
West Village
Turtle Creek
CBD3515 Brown Street
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Knox District
Victory Park
AMENITY-RICH ENVIRONMENTZoned for commercial use: office, retail
multifamily, hotel, healthcare and more
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1 24
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2515 BROWN ST
21
WALK SCORE!
9393Restaurants/Bars/Grocery Hotels Katy Trail M-Line Trolley
The Common Table
Concrete Cowboy
Citizen
Stoneleigh P
Nick and Sam’s
Clutch
Kung Fu Saloon
Level
British Beverage Co
Crushcraft Thai
TNT Tacos and Tequilla
Two Corks & a Bottle
Dream Cafe
Rocco’s Uptown
Cremona Bistro
Which Wich
Sidebar
The Ginger Man
Las Palmas Tex Mex Blackfriar
Pub
Murphy’s Deli
Jakes Burgers and Beer
San Martin Bakery & Cafe
Trophy Room
Avanti Ristorante
Fogo de Chao
Yutaka
Del Frisco’s Double Eagle
Bowen House
S&D Oyster Company
Chipotle
La Gourmet Pizza
The Clover Club
Tate’s
Christies Sports Bar & Grill
East Hampton Sandwich Co
The Standard Pour
Playground Bar
Theory Nightclub
Jimmy John’s
Starbucks
iFratelli Uptown
Pizza Hut
III Minister Pub
Hotel St. Germain
Texas de Brazil
Katy Trail Ice House
Uchi Dallas
Dragonfly
Coal Vines
The Old Warsaw
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CutiePies Pizza & Bar
Truluck’s
Starbucks
Sixty Vines
The Capital Grille
Ascension Coffee
Moxie’s Grill & Bar
Shake Shack
Ocean Prime
The Tipsy Alchemist
Magnolias Sous Le Pont
The Old Recess Club
Fearings
Whole Foods Market
Pei Wei
Snap Kitchen
Mortons Steakhouse
Potbelly
Sammy’s Bar-B-Q
Dickey’s Barbeque Pit
WFM Coffee Bar
Saint Ann Restaurant
Roti Mediterranean
Nickel and Rye
Perry’s Steakhouse
Si Tapas
The Nodding Donkey
City Council
State & Allen
The Alcove
Parliament
Blue Sushi Sake Grille
MUTTS Canine Cantina
Del Frisco’s Grille
Southpaw Grille
Hopdaddy Burgers
The Mansion
The Grove at Harwood
Dolce Riviera
The Rustic
The Original Pancake House
Bread Winners Café & Bakery
The Stoneleigh
Guild Uptown
Hyatt House Uptown
Hotel Crescent Court
The Ritz Carlton
Hotel Zaza
Rosewood Mansion
New Marriot Uptownunder construction
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MEDIAN HOUSEHOLD INCOME TOTAL HOUSEHOLDS
CITY PARKS
$63,812$63,812
#1 Place#1 Place
34.634.6 21,10021,100
415+415+
2.95 M2.95 M
FOR BUSINESS AND CAREERForbes Magazine
ACRES OF PARKLANDMEDIAN AGE
Surrounding Neighborhoods
Average Annual Household Income
$118,648
Average Home Value
$487,844
Area Household Annual Spend
$88,812
AREA PROFILEDEMOGRAPHICS
The low cost of living and favorable business climate continues to attract large corporations to the Dallas/Fort Worth (DFW) metroplex, which has resulted in a substantial employment and population boom. DFW has added over half a million people to the labor force in the last five years, and the unemployment rate has fallen to 2.9%.
Dallas-Fort Worth Economic and Demographic Overview
Dallas ranked FIRST in the nation for the number
of jobs added in 2019.
Dallas-Ft. Worth has a highly educated workforce. The area is host to 15 major universities and 7 community college districts, with a combined total of over 366,000 enrollees. Multiple universities have reached, or, are working towards tier one research institution status.
10,676,844 Will live in the DFW
area by 2030
Bachelor’s Degree or Higher
87.3%
Population
186,178
6
RELEVANT DEVELOPMENTS
PROPOSED PROJECTS | TURTLE CREEK AREA
The Fairmount Building
Greenway Tower Apts.
Oak Lawn & Lemmon 2025 Cedar Springs Hotel2708-2722 Fairmount St Office4 Stories62,960 SF
Routh St. & Cedar Springs RdApartments22 Stories270 Units
Oak Lawn & LemmonApartments21 Stories297 Units
2025 Cedar Springs RdHotel19 Stories230 Rooms
2
10
14 20
McKinney & Lemmon
Kairoi Uptown
2727 Turtle Creek Blvd Mandarin Oriental
2323 Cedar Springs Rd
Lincoln Katy Trail
McKinney & BollHarwood XII
2727 Turtle Creek 2614 McKinney Ave
Knox Promenade
3500 McKinney AveOffice16 Stories487,000 SF
2620 Maple AveApartments12 Stories300 Units
2727 Turtle Creek BlvdApartments~20 Stories250 Units
2999 Turtle Creek BlvdHotel25 Stories176 Rooms | 100 Residences
2323 Cedar Springs RdOffice26 Stories623,624 SF
3203 Carlisle StApartments6 Stories309 Units
2702 McKinney AveApartments19 Stories290 Units
2601 Field StOffice42 Stories541,640 SF
2727 Turtle Creek BlvdOffice15 Stories260,072 SF
2614 McKinney AveApartments18 Stories110 Units
4433-4447 McKinney AveRetail Storefront1 Story29,200 SF
4
12
16 22
1
9
137
5 17
19
3001 Turtle Creek Blvd 2929 Oak Lawn Ave
The Terminal at Katy Trail
3001 Turtle Creek BlvdOffice17 Stories366,181 SF
2929 Oak Lawn AveOffice7 Stories330 Units
4205 Buena Vista StOffice & Condos8 Stories72,736 SF | 19 Residences
6 18
8
The Quad
NOVEL Turtle Creek
Ltd. Edition No. 2505 Dream Hotel2699 Howell StOffice12 Stories335,501 SF
4223 Irving AveApartments20 Stories206 Units
2505 Turtle Creek BlvdApartments/Condos22 Stories60 Units
3207 McKinney AveHotel15 Stories128 Rooms
3
11
15 21
The information contained herein was obtained from sources deemed reliable; however, no guarantees, warranties or representations are made as to the completeness or accuracy thereof. The presentation of this real estate information is subject to errors; omissions; change of price; prior sale or lease; or withdrawal without notice.
SHOW/HIDE MAP
UNDER CONSTRUCTION
7
The Broadstone Marriott Uptown4444 Cole AveApartmentsDelivers February 2022333 Units
3000 Fairmount StHotelDelivers September 2020225 Rooms
2 9
Toll Brothers Oak Lawn
NOVEL Turtle Creek
Nove at Knox
Victory Commons
Tower 27 Hotel
3133 Knox St - Restoration Hardware
The Victor
3611 Congress AveApartmentsDelivers April 2022270 Units
4223 Irving AveApartmentsDelivers May 2022206 Units
3031 Oliver Ave ApartmentsDelivers June 2020310 Units
2601 Victory AveOfficeDelivers September 2021364,733 SF | 0% Leased
2727 Turtle Creek BlvdHotelDelivers October 2021200 Rooms
3133 Knox StRetail GalleryDelivers June 2020108,831 SF | 100% Leased
3099 Olive StApartmentsDelivers May 2021344 Units
4
5
1
13
8
7
6
Weir’s Plaza
The Link
3219 Knox StOfficeDelivers November 2021297,000 SF | 61.1% Leased
2601 Olive StOfficeDelivers November 2021292,041 SF | 4.1% Leased
11
12
Alexan Oak Grove Harwood Hotel3308 Oak Grove AveApartmentsDelivers February 2022185 Units
2575 McKinnon StHotelDelivers June 2020200 Rooms
3 10
1
2
3
4
7112.1 MSF Total
UNDER CONSTRUCTION
12 MSF TotalCOMPLETED IN LAST 5 YEARS
8
9
10
1213
5
6= Apartments
= Retail
= Hotels
= Office
RELEVANT DEVELOPMENTS RECENT SALES
$150
$200
$250
$300
$350
$400
$450
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 YTD
2021 2022 2023 2024
Avg. Sales Price Per Foot
Office Retail Multi-Family ($K per Unit)
3131 Turtle Creek Windsor Turtle Creek3131 Turtle Creek BlvdOfficeSale Price: $46,065,000Price/SF: $336
3631 Cedar Springs RdApartmentSale Price: $57,960,000Price/Unit: $280,000
2 8
Citymark
Hall Street at The Centrum Rienzi at Turtle Creek
The Centrum
3100 McKinnon StOfficeSale Price: $62,000,000Price/SF: $283
3625 N Hall StOfficeSale Price: $39,143,716Price/SF: $340
3500 Fairmount StApartmentSale Price: $43,500,000Price/Unit: $286,184
3102 Oak Lawn AveOfficeSale Price: $134,856,284Price/SF: $343
4
1 7
5
2525 McKinnon2525 McKinnon StOfficeSale Price: $46,800,000Price/SF: $426
6
3131 McKinney The Ashton Uptown
Hyatt House Dallas Uptown
3131 McKinney AveOfficeSale Price: $47,750,000Price/SF: $328
2215 Cedar Springs RdApartmentSale Price: $114,500,000.00Price/Unit: $428,839
2914 Harry Hines BlvdHotelSale Price: $21,729,329Price/Room: $87,069.00
3 9
10
15
8
7
2
3
4
10 9
6
= Apartments
= Hotels
= Office
$1.5BTOTAL SALES IN LAST 3 YEARS
73%AVERAGE SALES PRICE INCREASE SINCE 2010
8
RELEVANT DEVELOPMENTS PROPOSED PROJECTS
The Fairmount Building Greenway Tower Apts.
Oak Lawn & Lemmon
2025 Cedar Springs Hotel
2708-2722 Fairmount St Office4 Stories62,960 SF
Routh St. & Cedar Springs RdApartments22 Stories270 Units
Oak Lawn & LemmonApartments21 Stories297 Units
2025 Cedar Springs RdHotel19 Stories230 Rooms
2 10
14
20McKinney & Lemmon Kairoi Uptown
2727 Turtle Creek Blvd
Mandarin Oriental
2323 Cedar Springs Rd Lincoln Katy Trail
McKinney & Boll
Harwood XII
2727 Turtle Creek
2614 McKinney Ave
Knox Promenade
3500 McKinney AveOffice16 Stories487,000 SF
2620 Maple AveApartments12 Stories300 Units
2727 Turtle Creek BlvdApartments~20 Stories250 Units
2999 Turtle Creek BlvdHotel25 Stories176 Rooms | 100 Residences
2323 Cedar Springs RdOffice26 Stories623,624 SF
3203 Carlisle StApartments6 Stories309 Units
2702 McKinney AveApartments19 Stories290 Units
2601 Field StOffice42 Stories541,640 SF
2727 Turtle Creek BlvdOffice15 Stories260,072 SF
2614 McKinney AveApartments18 Stories110 Units
4433-4447 McKinney AveRetail Storefront1 Story29,200 SF
4 12
16
22
1 9
13
7
5
17
19
3001 Turtle Creek Blvd
2929 Oak Lawn Ave
The Terminal at Katy Trail
3001 Turtle Creek BlvdOffice17 Stories366,181 SF
2929 Oak Lawn AveOffice7 Stories330 Units
4205 Buena Vista StOffice & Condos8 Stories72,736 SF | 19 Residences
6
18
8
The Quad
NOVEL Turtle Creek
Ltd. Edition No. 2505
Dream Hotel
2699 Howell StOffice12 Stories335,501 SF
4223 Irving AveApartments20 Stories206 Units
2505 Turtle Creek BlvdApartments/Condos22 Stories60 Units
3207 McKinney AveHotel15 Stories128 Rooms
3 11
15
21
2
4
1
5
6
310
12
9
7
8
11
14
16
1317
18
15
20
22
19
21
1.5 MSF TotalUNDER CONSTRUCTION
11 MSF TotalCOMPLETED IN LAST 5 YEARS
= Apartments
= Retail
= Hotels
= Office
9
UptownTurtle Creek
West Village
GREAT NEIGHBORHOODSWITHIN THE SURROUNDING AREA
CBD
Knox District
Victory Park
1 0
3515 BROWN ST. D E S I G N O P T I O N SJ U LY 2 0 , 2 0 2 0
3515 BROWN ST | DALLAS, TX
PROJECT PROJECT SITE SITE
ENID ST
ONE WAY ALLEYROUTH ST
HOOD ST BROWN ST
GILLESPIE ST
BROWN ST
OAK LAWN AVE
FUTURE PRESCOTT FUTURE PRESCOTT DEVELOPMENTDEVELOPMENT
FUTURE FUTURE DEVELOPMENTDEVELOPMENT
FAIRMOUNT ST
ZO
NIN
G
PD 193 MF-3• Max Height: 36’• Front Setback: 20’ up to 36’ in height
Additional 18’-50’ above 36’ in height *• Side Setback: 10’ up to 36’ in height
Additional 18’-50’ above 36’ in height *• Rear Setback: 25’ (Multifamily over 36’)* Additional Setback if a building is erected or altered to exceed 36 feet in height, an additional setback must be provided that is equal to one-half of the total height of the building, up to a maximum setbackof 50 feet. In providing the additional setback, one side yard may be reduced up to 20 percent from the dimension required, if the other side yard setback is increased by a distance equal to the reduction.The additional setback is only required for that portion of a building that exceeds 36’ in height)
• Lot Coverage Minimum: No Minimum Maximum: 60 %• Max FAR 4:1• Parking Requirements for Multifamily
- A minimum of 1 space and a maximum of 1.5 spaces are required for each dwelling unit in a multiple-family structure over 36 feet in height.- 1 space for each 500 sf of dwelling unit floor area within the building site.- Guest parking: .25 unassigned spaces available for use by visitors and residents are required for each dwelling unit.
PROJECT PROJECT SITE SITE
ENID ST
ONE WAY ALLEYROUTH ST
HOOD ST BROWN ST
GILLESPIE ST
BROWN ST
OAK LAWN AVE
FUTURE PRESCOTT FUTURE PRESCOTT DEVELOPMENTDEVELOPMENT
FUTURE FUTURE DEVELOPMENTDEVELOPMENT
FAIRMOUNT ST
3515 BROWN ST | DALLAS, TX
20'
25'
10'10'
105'
50' MAX HEIGHT24'
34'
39'
36' MAX HEIGHT
14'
3515 BROWN ST | DALLAS, TX
100 20 40Scale: 1” = 40’
SITE ANALYSIS
EN
ID S
T
ONE WAY ALLEY
HO
OD
ST
BROWN ST
100’ 112’
PRIMARY INTERSECTION
ADJACENT MULTIFAMILY10 LEVELS
ZO
NIN
G
PD 193 MF-3• Max Height: 36’• Front Setback: 20’ up to 36’ in height
Additional 18’-50’ above 36’ in height *• Side Setback: 10’ up to 36’ in height
Additional 18’-50’ above 36’ in height *• Rear Setback: 25’ (Multifamily over 36’)* Additional Setback if a building is erected or altered to exceed 36 feet in height, an additional setback must be provided that is equal to one-half of the total height of the building, up to a maximum setbackof 50 feet. In providing the additional setback, one side yard may be reduced up to 20 percent from the dimension required, if the other side yard setback is increased by a distance equal to the reduction.The additional setback is only required for that portion of a building that exceeds 36’ in height)
• Lot Coverage Minimum: No Minimum Maximum: 60 %• Max FAR 4:1• Parking Requirements for Multifamily
- A minimum of 1 space and a maximum of 1.5 spaces are required for each dwelling unit in a multiple-family structure over 36 feet in height.- 1 space for each 500 sf of dwelling unit floor area within the building site.- Guest parking: .25 unassigned spaces available for use by visitors and residents are required for each dwelling unit.
36’
14’
3515 BROWN ST | DALLAS, TX
ZONING MASSING
3515 BROWN ST | DALLAS, TX
100 20 40Scale: 1” = 40’
LEVEL L1
EN
ID S
T
ONE WAY ALLEY
HO
OD
ST
BROWN ST
DROPOFF
VISITOR ENTRANCE
DOWN TO B1
LOBBY LEASING
BOH / LOADING
TENANTENTRANCE
3515 BROWN ST | DALLAS, TX
100 20 40Scale: 1” = 40’
LEVEL B1-B3
EN
ID S
T
ONE WAY ALLEY
HO
OD
ST
BROWN ST
AMENITY
3515 BROWN ST | DALLAS, TX
100 20 40Scale: 1” = 40’
AMENITY LEVEL
EN
ID S
T
ONE WAY ALLEY
HO
OD
ST
BROWN ST
3515 BROWN ST | DALLAS, TX
100 20 40Scale: 1” = 40’
TYPICAL LEVEL
EN
ID S
T
ONE WAY ALLEY
HO
OD
ST
BROWN ST
EN
ID S
T
HO
OD
ST
AMENITY LEVEL
LOBBY LEASINGVISITOR PARKING
B1
B2
B3
3515 BROWN ST | DALLAS, TX
100 20 40Scale: 1” = 40’
SECTION
3515 BROWN ST | DALLAS, TX
OPTION 1
3515 BROWN ST | DALLAS, TX
OPTION 1
3515 Brown St. AREA BREAKDOWN
Floorplate - Gross SF
NRSF @ 85% Efficiency Levels
# Units @ 1000 sf
Total Gross Square Footage
Parking Ratio
Required Parking
Proposed ParkingSpace Count
MULTIFAMILYMultifamily Tower 21,100 17,935 18 323 322,830 1.26 per Unit 410
TOTAL MULTIFAMILY 323 322,830 410
STRUCTURED PARKINGBelow Grade 50,000 3 150,000 400 per space 375
On-street Parking
Site SF GRAND TOTAL 322,830 65,700 410 410
Full Site FAR (excludes Garage) 4.91 1.51 Acres
3515 BROWN ST | DALLAS, TX
OPTION 2
3515 BROWN ST | DALLAS, TX
OPTION 2
3515 Brown St. AREA BREAKDOWN
Floorplate - Gross SF
NRSF @ 85% Efficiency Levels
# Units @ 1000 sf
Total Gross Square Footage
Parking Ratio
Required Parking
Proposed ParkingSpace Count
MULTIFAMILYMultifamily Liner Units 27,700 22,991 8 184 183,928 1.25 per Unit 230
Multifamily Tower 21,100 17,935 8 143 143,480 1.25 per Unit 180TOTAL MULTIFAMILY 327 327,408 410
STRUCTURED PARKINGBelow Grade 50,000 3 150,000 400 per space 375
On-street Parking
Site SF GRAND TOTAL 327,408 65,700 410 410
Full Site FAR (excludes Garage) 4.98 1.51 Acres
3515 BROWN ST | DALLAS, TX
VISITOR ENTRY
Paul Harmon214 269 [email protected]
Michael Kennedy214 269 [email protected]
B R O W N S T R E E T | D A L L A S , T X
©2020 Avison Young. All rights reserved. The information contained in this document is proprietary to Avison Young and shall be used solely for the purpose of evaluating this proposal. All such documentation and information remains in the property of Avison Young and shall be kept confidential. Reproduction of any part of his document is authorized only to the extent necessary for its evaluation. It is not to be shown to any third party without the prior written authorization of Avison Young. All information contained herein is from sources deemed reliable: however, no representative or warranty is made as to the accuracy thereof.
Scott Singleton214 261 [email protected]
