Highrise development planned for old Hard Rock Cafe site on McKinney Avenue in Dallas
The Dallas Morning News | Steve Brown | August 5, 2013
An Illinois developer has teamed up with local investors with plans to build on a prime Uptown Dallas tract on McKinney Avenue.
It’s the vacant corner where the old Hard Rock Café once sat at McKinney Avenue and Routh Street.
The long-time location of the popular music venue and eatery was knocked down in 2008, right before the recession hit. Since then the land has been idle.
Now Stoneleigh Cos – an Illinois-based property firm that buys and builds apartments – and Dallas’ Cheng Investments have purchased the site, Dallas County deed records show.
The new owners say they will build a 20-story apartment and retail tower with 200 luxury rental units and 30,000 square feet of retail space.
Newt Walker with Newt Walker Co. and Jack Gosnell with UCR Urban brokered the land sale.
Construction is set to begin in early 2014.
Cheng Investments recently sold the block on McKinney Avenue where the new Whole Foods Market grocery store and Gables Residential apartment tower is being built.
The McKinney project is the latest in several apartment towers in the works in Dallas’ Uptown district.
Developer StreetLights Residential is now finishing work on a 17-story apartment tower at Bowen and Carlisle streets near Turtle Creek.
And JLB Partners is about to begin construction on an 18-story, 299-unit apartment building at Cedar Springs Road and the Katy Trail.
Another developer, Novare Group of Atlanta, is buying land on Woodall Rodgers Freeway in Victory Park for a 20-story apartment project.