06/29/2026
Big Changes (Again) at Preston & Royal β Where Do You Stand?
If you live in or near Preston Hollow, you've probably seen the yard signs. Here's where things actually stand on the proposed Preston & Royal redevelopment, as of late June:
The basics:
The 7-acre site at Preston & Royal β vacant/underused since the 2019 tornado β is the target of an $800M mixed-use proposal from Burk Interests and Greenway Investment Co.: a hotel/condo tower, a separate apartment tower, office space, restaurants, underground parking, and a half-acre public green space.
The number that keeps moving:
The towers started at 325 feet (28 stories). After months of community pushback, the latest plans show the condo/hotel tower at 299 feet (25 stories) and the apartment tower at 250 feet (21 stories). Current zoning caps the site at 54 feet β so even after four rounds of cuts, this is still a major ask.
The case for it:
The developer's own traffic study claims the project would generate fewer daily vehicle trips (~5,000) than if the corner redeveloped as retail under existing zoning (~9,435). They're also voluntarily building below what's allowed by-right under SB 840, which could permit up to 800 units here without any rezoning at all.
The case against it:
Preserve Preston Hollow, the neighborhood group formed specifically to fight this, has collected over 2,000 signatures opposing the height increase. Their position isn't anti-development β several leaders say they'd welcome a 4-5 story mixed-use project at the current 54-foot limit. The objection is scale, not use.
Why Realtors should care:
Projects like this reshape comps, buyer perception, and long-term demand for an entire corridor β whether or not they ever break ground. Even the threat of a precedent-setting rezoning changes how buyers think about nearby inventory.
So β Realtors and neighbors, I want your read:
πΉ Does a project like this help or hurt property values within a half-mile?
πΉ Have you seen a similar height fight resolve well (or badly) elsewhere in DFW?
πΉ Is "lower density than by-right" a real win for the neighborhood, or just clever framing?