The Glen at Preston Hollow will transform a 42-acre site – formerly occupied by 1960s apartments and retail – into an in-town village.

Media Contact: Cynthia Pharr Lee, 972-931-7576, ext 24; Cynthia@pharrpr.com

DALLAS, November 9, 2007 – More than 60 years after joining the city of Dallas, the annex known today as Preston Hollow will be enhanced by a multi-use development at the northwest corner of Central Expressway and Walnut Hill Lane.  Development partners Provident Realty Group and the Red Sea Group announced The Glen at Preston Hollow is being created with a sophisticated, euro-urban sensibility that deliberately co-mingles retail, restaurant and office space with residential living.  The Glen will be characterized by iconic Mediterranean and Spanish Colonial architecture and balanced by well-proportioned streets, landscaped parks and generous green space.

The Glen was designed with considerable input from and involvement with current area residents to ensure its aesthetic and personality fit into the already established, prestigious neighborhood.  To that end, mostly boutique and small retailers will be in The Glen.  Neither big-box nor large-scale chain stores will be a part of this intimately crafted district.

Designed to gracefully complement the Preston Hollow neighborhood, a gated community of 100 luxury single-family homes will connect The Glen’s western boundary with existing neighborhood homes.  On the east side of the development fronting Central Expressway, will be a single 100,000 square foot mid-rise office building.  The heart of the development will be home to a walking village with 175,000 square feet of retail and restaurants at street level and up to 1,100 multi-family units located primarily above the commercial spaces.

“Our vision is to leverage what well may be the best location in Dallas to create a best-in-class urban experience – a place where people can live, office and socialize all within walking distance.  The Glen will be as much about mixing it up socially – what happens there – as it is about what is physically located there,” said Scott Rodgers, Director of Development for The Glen.  “We see this as an opportunity to not only create a new in-town village, but also a way to further define what it means to live in Preston Hollow.”

Today, Preston Hollow’s unique citizenry live in some of the most expensive homes in the state and enjoy the benefit of being only 15 minutes from downtown Dallas while living amongst towering trees, unique architecture and some of Dallas’ most prominent leaders. 

The first phase of construction at The Glen will be complete by mid-2010.

Retail leasing is being handled by The Retail Connection and Blatteis & Schnur.  The Retail Connection team is being led by Christopher Thomas, 214-572-8422, and Ross Golman, 214-572-8426.  Lisa Streidl represents Blatteis & Schnur, at 214-461-3247.  WLK Interests/Bill Knopick is responsible for office leasing and can be reached at 214-405-0018. The Glen’s design and site planning was done by WDG Architects, Vince Hunter, principal.  For information, contact info@TheGlenatPrestonHollow.com.

About The Red Sea Group
The Red Sea Group is a global group of real-estate-related companies including hotel, retail, commercial and residential development and operation. The Group’s activity spans North America, Latin America, Europe, Africa, the Middle East and Asia. The Group is the major shareholder in Park Plaza Hotels Ltd. (PPH on the London Stock Exchange), which operates more than 25 hotels worldwide. The Group has also developed residential and holiday apartments and homes valued at more than one billion US dollars, as well as hundreds of thousands of square feet of retail, including Eastern Europe’s first and largest shopping mall.

About Provident Realty Advisors
Provident Realty Advisors, Inc. is a Dallas, Texas-based, multi-faceted real estate company that has developed or invested in real estate assets with a market value of more than $1 billion. Amongst the Provident portfolio are large-scale multi-use projects, land acquisition and development, master planned communities, multi-family projects, redeveloped retail and commercial facilities. Within the real estate industry, Provident has earned a reputation as a visionary leader with integrity and a track record of delivering challenging projects and above-market returns.

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