Dallas developer finishes first phase of apartments at former Tobin estate
The first phase of a housing project on the former property on the Northeast Side of the late philanthropist Robert LB Tobin has been completed.
Dallas-based Rosewood Property Co., which bought 44 acres there in 2016, recently completed 286 high-end apartments on Oakwell Court.
One bedroom rents start at $ 1,300, two-bedroom rents start at $ 1,650, and three-bedroom rents start at $ 2,350. The complex’s amenities, Tobin Estate Apartments, include a clubhouse and pool house lounge designed by local architectural firm Overland Partners.
Tobin’s mansion on the site that serves as the Tobin Foundation’s office and is currently being renovated and several acres around it has been preserved. The second phase of Rosewood will include approximately 300 apartments, and the third phase will also include apartment buildings.
“It has been a wonderful journey to reach this moment and our goal was to pay homage to the vision and legacy of Robert LB Tobin and the mark he has left on this website,” said Rick Perdue, President of Rosewood .
Heir to an aerial mapping company founded by his father, Tobin was known for his patronage of art and cultural institutions and also collected paintings, designs for opera and ballet productions, and other works.
Its original property was 500 acres. In the 1980s, he developed Oakwell Farms, a master-planned community of upscale homes, apartment buildings, and office buildings.
When plans later emerged to sell and develop most of Tobin’s property, many of the residents of Oakwell Farms pushed back.
The Tobin Foundation suggested working with developer David Weekley to build over 400 detached townhouses, but residents said the plans were too tight.
For similar reasons, they rejected the next plan for 956 apartments. They said they were concerned about drainage and traffic issues but would support the project if it reflected the character of the neighborhood.
At a meeting of the planning commission in 2015, 74 people spoke against the apartments. After three hours, the city panel gave the green light for the project with 7: 1 votes.
J. Bruce Bugg Jr., chairman and trustee of the Tobin Foundation, said at the time that developing the site would generate more property tax revenue and was in line with Tobin’s vision for the property. The land is tax-free and the sale would generate more money for charity, Bugg said.
Rosewood Property Co. purchased the property from Tobin Endowment at an undisclosed price.
Executives said at the time that they would likely build a mix of apartments, townhouses, single-family homes, retail and possibly office space. After researching the market, they decided to focus solely on apartment buildings, Perdue said.
Neighbors at Oakwell Farms remain concerned about traffic and the worsening congestion as more homes are built, according to residents Beverly Alcott and Barbara Lowry. They are also concerned about debris in a drainage area that builds up during heavy rainfall and causes flooding.
“It’s a disaster waiting to happen,” said Alcott.
Rosewood Property Co. is a subsidiary of Rosewood Corp., which is owned by the Caroline Hunt Trust Estate. Rosewood built two more high-end complexes in San Antonio near the Rim Shopping Center.
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