A new 25-story luxury condominium tower is planned for Dallas' Turtle Creek neighborhood, with 44 units starting at $3.5 million and penthouses priced as high as $7.5 million. The project is called The Cypress at Turtle Creek.
According to The Business Journals, The Cypress is designed to include one of Dallas' highest rooftop pools. The 25-story building would add another high-dollar address to a stretch of Turtle Creek that has become a magnet for ultra-luxury condo development in recent years.
The Cypress's $3.5 million entry price point and $7.5 million penthouses place it firmly at the top end of a Dallas luxury high-rise market that has actually been cooling.
A Crowded Field of Turtle Creek Towers
The Cypress isn't the only tower reshaping the neighborhood's skyline. Separately, a luxury high-rise in Turtle Creek recently won city approval for a 50-unit tower, as reported by bizjournals.com. That account identifies the developer behind Rosewood Residences Turtle Creek as having secured approval for a second luxury tower in the same upscale neighborhood, with plans that include high-end amenities and a distinctive penthouse design.
Two major luxury towers converging on the same pocket of Dallas signals real builder confidence in Turtle Creek as a brand, even as the broader sales numbers tell a more cautious story.
Luxury Sales Have Cooled Even as Towers Multiply
A third-quarter 2026 market update found that across 20 Dallas luxury high-rise condominium buildings, there were 65 sales of $500,000 and above through September 30, compared with 72 during the same period in 2025. The report, from dallashighrisecondo.com, also recorded sales of $2 million and above declining from 24 in 2025 to 18 through September 2026.
The average sale price across that 20-building market came in at $1,760,292 through the end of the third quarter, down roughly 5.7% from 2025, per the same report.
Against that backdrop, The Cypress's $3.5 million starting price and $7.5 million penthouses represent a bet that demand at the very top of the Turtle Creek market will hold even as overall luxury condo sales volume has softened. Whether that bet pays off remains to be seen.
