The Dallas Morning News

Lakewood building in line for mixed-use redo

Developer says ‘eyesore’ Faulkner Tower to be a ‘gem’

- By STEVE BROWN Real Estate Editor stevebrown@dallasnews.com Twitter: @Stevebrown­dmn

Developers are working on plans to redo what they say is the ugliest building in Lakewood.

The sevenstory former Faulkner Tower is at 6220 Gaston Avenue near La Vista Drive.

Built in 1967 for a savings and loan and office space, the almost 35,000squaref­oot building has seen better days.

“It may be the saddestloo­king building in town,” said Carl Anderson of Larkspur Capital, which has contracted to purchase the property. “We’d like to take it from being the neighborho­od eyesore to a neighborho­od gem.”

Larkspur Capital, which builds townhouses and apartments in closein Dallas neighborho­ods, wants to remodel the old tower into a combinatio­n of office and residentia­l space.

“We’ve been working with the city on that,” Anderson said. “We’ve been meeting with neighborho­od groups about our plans.

“The current zoning allows for 50% residentia­l,” he said. “We’d make the top two floors residentia­l.”

Developers have previously considered knocking the building down, turning it into a hotel or continuing use as office. The small floor sizes in the tower make it a tough economic deal for some investors.

Larkspur Capital would give the building new windows and the concrete exterior would be cleaned up.

“There are amazing views of Lakewood and the surroundin­g area,” Anderson said. “As far as the real estate, it doesn’t get much better than that — prime Lakewood.”

 ?? Steve Brown/staff ?? Developers are working on plans to convert the sevenstory former Faulkner Tower into a combinatio­n of office and residentia­l space.
Steve Brown/staff Developers are working on plans to convert the sevenstory former Faulkner Tower into a combinatio­n of office and residentia­l space.

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