Uptown tower to get started at former Hard Rock site
Dallas Business Journal | Candace Carlisle | July 15, 2014
It took a bit longer than anticipated, but Illinois-based Stoneleigh Companies LLC, along with Dallas-based Cheng Investments, are getting ready to shovel dirt at the longtime vacant former Hard Rock site.
The 20-story luxury residential and retail tower will be one of the tallest, and most high-profile developments, in the Uptown neighborhood.
“This is a big project,” said Stoneleigh President Rick Cavenaugh, in a previous interview. “This is a high-profile project that will be one of the tallest buildings in the area with high-end finishes and high-end tenants.”
The out-of-state development group recently hired Dallas-based Hunt Construction Group to build the project at the northeast corner of McKinney Avenue and Routh Street.
The group plans to start by digging a hole twice as deep as the hole Gables Residential dug to build an underground parking garage below the soon-to-be Whole Foods anchored development on the kitty-corner site to the Hard Rock tract.
Cavenaugh plans to hold a groundbreaking ceremony at 9 a.m. on Wednesday, July 23.
Last time I spoke with Cavenaugh, he was in the process of finalizing the retail tenants for the tower, which includes about 30,000 square feet of retail and restaurant space. The project also includes 200 luxury apartments homes.
Waterford Residential was hired to be the management company for the tower, with apartments being leased for $2.25 to $2.50 per square foot. Phil Shepherd is the project architect. Humphreys & Associates is also working on the project.
The project is expected to be complete by spring 2016.