Overview
Colliers has been retained as the exclusive agent to arrange the sale of Windsor at Park Central (“Windsor”), a vacated 235-unit senior housing-to-multifamily repositioning and/or redevelopment opportunity in Dallas, Texas. Located on an urban infill site in the Park Central mixed-use development, Windsor will offer its residents convenient access to all the major employment centers throughout the Metroplex via nearby Central Expressway (US-75) and LBJ Freeway (I-635). Select residents will also benefit from an outstanding school environment as the property is in the Richardson Independent School District.
The Windsor represents a tremendous repositioning or redevelopment opportunity offering an investor the following value-add or opportunistic strategies:
- Repositioning through renovation of the existing buildings
- New development of market rate or affordable apartments
Investment Highlights
Originally constructed in 1973 as a hotel, the property was renovated and converted into senior housing in 2009. Improvements spread across the 5.63-acre site include an 11-story tower with additions/wings of one, two, and four-story structures, and a three-level parking garage. The buildings contain a tremendous amount of common area space that could be transformed into first class amenities catering to the most discriminating residents. Currently, the property is vacant, allowing a new owner to immediately begin renovation or demolition work.
Irreplaceable Urban Infill Location near junction of Central Expressway & LBJ Freeway
Tremendous Visibility from LBJ Freeway with almost 300,000 VPD with more than 450’ of frontage on the access road
Multiple Value-Add or Opportunistic Options including Repositioning to Multifamily or Redevelopment
Opportunity to Create a Luxury Property for significantly less than replacement cost
Dynamic Submarket with strong demographics and multifamily fundamentals
Outstanding Schools that are located within the Richardson Independent School District
Proximity to Major Employment, Retail & Entertainment such as Medical City Dallas, Richardson’s Telecom Corridor, The Galleria & NorthPark Center
Easy Access to Nearby White Rock Creek Trail the most popular trail in North Texas stretching over 17.1 miles
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Sales Team
