The Residences: luxury condominiums from the developers of Southlake Town Square have been approved.
With opposition coming frombrcity councilmembers and residents alike at a past Sept. 3 city council meeting,brSouthlake Town Square developers Cooper and Stebbins went back and amendedbrtheir original plans for The Garden District at Southlake Town Square, anbrupscale residential district comprised of luxury brownstones and condominiums. Afterbra Nov. 19 city council meeting that ended well after midnight, the GardenbrDistrict was approved, but not before a lengthy public commenting period wherebrsupporters and those in opposition were heard.
The now-approved plans call for 33 new brownstonebrhomes ranging in size from 2,700 to more than 5,000 square feet. Yet, the mostbropposition centered around The Residences — a proposed five-story residentialbrbuilding with 38 condominium homes to be located in the lot west of Central Ave.brbetween Café Express and Harkins Theatres. A main concern: The two- and three-bedroombrunits, which range in size from 1,500 to 3,200 square feet and cost upwards ofbr$500,000, could present an unwanted opportunity for leasing in the heart ofbrSouthlake's downtown district. After listening to concerns, Cooper and Stebbinsbrincreased their proposed presale requirements to break ground from 25 to 50brpercent, ensuring all parties that the project would remain a “condominium-for-sale”brconcept.
“We're pleased with the outcome — it'sbran important decision for Southlake Town Square,” said Director of ResidentialbrDevelopment for Cooper and Stebbins Larry Corson. “And we're pleased with thebramount of care we saw from the community and city council.” With the approval,brCooper and Stebbins will now focus on land development activities set tobrcommence in the spring of 2014, which will include grading the land, streetbrdevelopment, aesthetic landscaping to the north of the current brownstones andbrthe addition of more than two acres of green space and trails around the newbrOval Park.