In response to a question at last night’s meeting for the Hood and Dickason high-rise (Turtle Creek Haus), Masterplan representative Karl Crawley lobbed out that The Limited Edition at 2505 Turtle Creek was being redesigned. I was there to catch that ball.
Turns out he’s correct. Just as Turtle Creek Gardens agrees to a $43 million sale to JLL, its neighbor is having a rethink. I’ve hinted for months that Dallas is over-saturated with luxury high-rises. What’s built is half empty. Bleu Ciel has started building out the pool deck on level 7, because 6 levels are now complete of the 33 story building. If it appeared that construction was “down under”, it was: they were working on the private garages within the underground, 5 level parking garage, which are exclusive to Bleu Ciel and the Azure.
Note: previously we reported that construction had stopped on the project, which was incorrect. It was not, however, visible.
Briggs Freeman Sotheby’s quietly stopped marketing the Limited Edition in February. It’s been reported that while owners Great Gulf are still very committed to Dallas, they’re reevaluating their concept.
This review obviously has everything to do with pricing. In my opinion, this ultimately translates into smaller units with less swanky interiors that may, in the long run, be better for the area and the Dallas marketplace. Expect a relaunch in the autumn, perhaps in conjunction with more details on the rental building planned across the street that’s yet to be enrobed in even a construction fence.
I wonder if Limited Edition’s falter gave Bleu Ciel sales a boost or if the Stoneleigh and Museum Tower benefitted? Hmmm…
As always, stay tuned.
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