The Dallas Morning News
Lakewood building in line for mixed-use redo
Developer says ‘eyesore’ Faulkner Tower to be a ‘gem’
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.”