Developers are betting big on Preston Center, unveiling a mixed-use project with a luxury residential tower and retail space designed to push the office-heavy district toward a walkable future.
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At 8300 Douglas, developers plan two towers — a 17-story residential high-rise with 147 apartments and 24K SF of retail and restaurants at its base, alongside a 12-story, 300K SF Class-A office building. Ramrock Real Estate is spearheading the project with partners Lincoln Property Co., HKS and Willow Bridge Property Management.
“This project is a transformational moment for the neighborhood — it’s the definitive step in creating the kind of vibrant, walkable environment the Preston Center community deserves,” Ramrock Real Estate President Robert Dozier said in a statement.
Developers plan to break ground in the first quarter and deliver the project by 2028.
At $60.25 per SF, Preston Center’s Q3 asking rents trailed only Uptown, according to Avison Young. The two districts together represent nearly 80% of the region’s office pipeline.
With “Y’all Street” on the rise and the Texas Stock Exchange set to debut next year, finance has become the engine of DFW’s office market, Avison Young’s Greg Langston said.
Lincoln Vice President Hudson Dozier called the market response “extraordinary,” saying the team has fielded more proposals than the project can accommodate.
HKS is leading design for the 8300 Douglas project, with interiors handled by Michael Hsu Office of Architecture, SJL Design Group and OJB Landscape Architecture.
The smaller tower will include 280K SF of residential space managed by Willow Bridge. HKS Global Practice Director Mark Buskuhl said the project is designed to raise the neighborhood’s standard of quality and act as a catalyst for future development.
Developers say the towers will lean on a hospitality feel, a feature Colliers’ Chris Wright argued this summer is no longer optional for office landlords competing in today’s market.
The retail and restaurant space at 8300 Douglas is expected to add top-tier offerings to the neighborhood. A few miles to the south, the Knox-Henderson corridor is aiming to become a national shopping destination with the addition of two new mixed-use developments of its own.
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