It was announced just a few days ago that the Los Angeles-based Red Sea Group is ready to begin their new work-play-live plan that is in conjunction with a prime forty-two acre tract of infill land. This live-work-play program is designed to “keep up with the Jones”, so to say, as the Red Sea Group fights to stay two steps ahead of the neighborhood.

Now, in the new formula Preston Hollow, the Glen has a three-hundred million dollar build-out value plan. The president of the Red Sea Group, Avner Papouchado said, “It took three years for the site to tell us what it wants to be.” Three years, and armed with a three-million dollar plan, the Red Sea Group is excited to begin this new venture.

Dallas Realtors are excited about the euro-urban formula that will go into effect at Walnut Hill Lane and the Expressway. In this Dallas Texas real estate plan, the Red Sea Group will create four-hundred apartments, one-hundred thousand square feet of retail space, a one-hundred thousand square foot office space and one-hundred new homes. The entire project will be enclosed in a picturesque gated seventeen acre setting that will add a sense of community and belonging to this prime piece of Dallas real estate.

In response to the three year wait, Leon Backes, Provident Realty’s founder commented, “We wanted to do this right. We wanted to make sure the pieces really work well together…We wanted to create a place, a village green for the neighborhood, a center that Preston Hollow has never had before.”

The first phase of the plan is scheduled to go vertical in the early fall and the building is scheduled for delivery in the spring time of 2010.