Maple Terrace Apartments will be renovated this spring. Courtesy of Maple Terrace Apartments
Hines plans to revitalize the 1927 apartments with additional offerings.
Hines' latest residential project in Houston, The Preston.
An iconic Uptown Dallas apartment building, that’s been housing residents since 1927, is set to be revamped in early 2021. Houston-based real estate power Hines, has purchased Maple Terrace Apartments at 3001 Maple Avenue.
Designed by Sir Alfred Bossom so many years ago, the historic building is set for an extensive renovation and something of a reimagining. In a letter sent out to current residents of Maple Terrace, it’s promised that the nearly century-old structure will not be torn down, but the “intent is to renovate the 1920s building,” “as well as revitalize the property with additional offerings.”
“This property has housed and inspired many imaginative and innovative people throughout the years, and while the building holds a special place in the hearts of the residents and patrons, it has become increasingly difficult to maintain an acceptable standard,” writes Ben Brewer, Managing Director at Hines.
“Our focus is the sensitive and historical architectural preservation of the building and the activation of the surrounding property, allowing for a positive and sustainable future.”
According to the letter, it seems apparent that not all the current residents of the seven-story building will be able to stay. It notes that individual leases will be in effect until the end of each lease term, but Hines is not promising the ability to renew leases moving forward.
This is likely to become a much more high-end building along the lines of Hines’ recent run of showcase projects. It is possible that some apartments will be combined to create larger units as well.
Hines currently owns properties all over the world, from the just unveiled The Preston in Houston to high-rises in Shanghai, Toronto and New York.