In a deal that will have Uptown real estate watchers leaning in, JLL Capital Markets announced Monday that it arranged the sale of a 1.28-acre development site at 3601 Cedar Springs in Dallas’s Turtle Creek neighborhood. The buyer is an entity called KC Turtle Creek Owner LLC, and the seller is Bill Y Bob Partners LLC. The transaction hands off a rare PD 193 (O-2) parcel with significant height and density rights to a new owner.
According to JLL, the site carries PD 193 (O-2) zoning and is positioned for multifamily, office, or hotel development, with a maximum permitted height of 240 feet and an approved floor-area ratio of 4.5:1. The marketing also touts a Walk Score of 85 and one-mile demographic metrics that developers routinely scrutinize when sizing up Uptown-area parcels.
The property sits near the southernmost stretch of Cedar Springs Road, about one block from historic Turtle Creek Park and roughly two blocks from the Katy Trail, with hundreds of nearby dining and nightlife options highlighted in the sales pitch. As reported by Yield PRO, those location perks were a central selling point for prospective buyers and brokers.
The JLL Capital Markets investment and sales advisory team representing the seller was led by Managing Director Jonathan Carrier, Senior Managing Director Michael Swaldi, Executive Chairman Jody Thornton, and Associate Adam McDaniel, according to industry notices. REJournals and other outlets republished the transaction announcement.
What PD 193 Means For Redevelopment
PD 193 is the planned development overlay that shapes allowable uses and building bulk across portions of Oak Lawn and Turtle Creek, which means even parcels with generous height and FAR still move through city review and approval. City plan commission records show PD 193 has governed a series of Uptown projects and sets the procedural guardrails that developers must follow. Dallas City Hall files provide background on the district’s standards.
The site has drawn interest before. A 2023 Berkadia Dallas-Fort Worth construction pipeline listed 3601 Cedar Springs as a planned Toll Brothers project of roughly 350 units, signaling that this address has been on the radar for large-scale multifamily development for several years. Berkadia included the parcel in its Oak Lawn entries.
What’s Next For The Site?
Given the PD 193 framework and the parcel’s footprint, the new owner could pursue a podium-style apartment tower, a stand-alone office building, or a hotel, although any of those paths would require design approvals, permitting, and neighborhood outreach under Dallas planning rules. JLL marketed the site specifically for multifamily, office, or hotel use. The buyer has not filed public plans, and the sale price was not disclosed. JLL and the buyer did not provide additional comments in the transaction notices.
Why Uptown Will Be Watching
Residents and businesses in Uptown and Turtle Creek are likely to monitor any development filings closely, since infill parcels of this size are scarce and projects at this scale can reshape traffic patterns, the retail mix, and even the neighborhood skyline. Industry reporting and city planning records point to a sizable pipeline of planned infill projects in Dallas, making each Uptown site especially competitive for capital and approvals. Yield PRO noted the transaction but did not disclose financial terms.
