Development

MPV Properties pitching new Dilworth office building on Kenilworth

The site of a proposed office building on Kenilworth Ave.
The site of a proposed office building on Kenilworth Ave.

Real estate company MPV Properties is marketing a site on Kenilworth Avenue in Dilworth for a potential office building, as development continues around the Kenilworth Avenue and Morehead Street intersection.

According to the company’s marketing materials, the building could be between 12,000 and 18,000 square feet. Construction would begin next year. The 0.44-acre site, zoned for office use, is currently occupied by two houses being used for office space.

The property is next to Solis Dilworth, a 184-unit apartment complex under construction by Terwilliger Pappas. Across the Kenilworth Avenue and Morehead Street intersection, Forestar Group is starting work on a 379-unit apartment complex called The Dillon. And down the street, Crescent Communities is leasing apartments at its 296-unit Crescent Dilworth project on Morehead Street, which is nearing completion.

Mark Newell, who is leasing the project for MPV Properties, said the company is talking with several potential tenants. MPV Properties could finish construction by the end of next year, once a tenant is signed. The company won’t go forward with the building on a speculative basis, meaning without a tenant.

“We’re trying to finalize a deal with a few folks,” said Newell.

Property records show the property on which the two houses now sit has a tax value of more than $1 million. One house was built in 1935 and the other in 1940.

Ely Portillo: 704-358-5041, @ESPortillo

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