A proposed residential high-rise in Uptown just became closer to reality after the City Plan Commission unanimously approved rezoning the site.
Known as Crescent Point Tower, the building is set to reach 30 stories high, making it the largest building in The Cresent development in Uptown. With the latest approval, the project will likely go before the Dallas City Council near the end of March.
If all goes according to plan, the 415-foot building will sit at the north tip of the existing 1.3 million square foot luxury, mixed-use development. The Crescent currently boasts office space, hotel accommodations, restaurants, retail, and other amenities. With the addition of the Crescent Point Tower, the development would also include residential living.
The new apartment building would have around 215 housing units. The structure would face Cedar Springs Road and Maple Avenue beside the planned 23Springs office tower. A city filing from May of last year targets a 2027 completion date for the high-rise.
Crescent Real Estate LLC is leading the project. The firm first brought The Crescent to Uptown in 1986. Today, the area possesses some of the priciest office space in Dallas, with multiple financial firms operating in the development. The Crescent also includes luxury retail options and fine dining, like The Capital Grille Steakhouse.
“The Crescent, heralded as a celebration of art, history, and architecture, is the most iconic building in Dallas,” reads a description on the development’s website.
“Known as the financial center of the southwest, the office and retail complex is the centerpiece of the Uptown Dallas/Turtle Creek Class AA office market.”
The Crescent is owned by GPIF TC Onwer LLC, an affiliate of Crescent Real Estate LLC, chaired by John Goff.
On February 6, city commissioners voted to allow GPIF a planned development district application. With it, GPIF would be free to modify existing development standards around features like height, parking, and floor-to-area ratio.
Previously, the nearly 10-acre site was zoned as a “heavy commercial subdistrict.” That means it was meant for large-scale commercial uses. Under the new application, the land would be permitted for various uses.
“I think bringing housing to it is sort of the last big use that it doesn’t have,” said Commissioner Melissa Kingstone, District 14 representative, which includes parts of Uptown, per Dallas Business Journal.
“I think high-end housing fits in nicely with this part of town,” she said.