Billionaire locked in real estate war with the state over bold plans for his new home

The Texas billionaire who notoriously tore down the iconic Cox Mansion has brazen plans for the property - and he is inching closer to making them a reality. 

Andrew Beal, a wealthy banker who has demolished multiple historic homes, applied to change Highland Park's zoning regulations to allow for an ultra-modern steel and glass dome on top of the new house he is building where the mansion used to be. 

Beal wants to amend the town's code to permit ornamental structures to be up to 65-feet tall, 10 feet higher than what is currently allowed, Kera News reported.

The Highland Park Zoning Commission approved the motion to set Beal's plans forward on Thursday, but limited the size of the feature to 3,000 square feet.

But Beal will not have the final verdict on whether or not his dome dreams will come true until the amendment is presented to the Town Council on February 4. 

If the council votes in the billionaire's favor, it will be the first time in six decades that the district changes its zoning code, according to Kera news. 

The changes would only impact the 'A' district, which embodies four properties in the Beverly Drive and Preston Road areas. 

Moshe Itzhakov, a partner at investment firm Weinreb Ventures, represented Beal during Thursday's zoning meeting. He argued that the rules about structures' heights were outdated.

'As design preferences have evolved, the town has an opportunity to modernize the ordinances and create the best outcomes for the community,' Itzhakov said, according to Kera News. 

Despite receiving the commission's go-ahead, critics have expressed discontent with the decision and explained why amending the town's zoning code would be problematic. 

Highland Park resident and Preservation Park Cities board member Larry Good said that approving Beal's appeal would be a 'reward' for destroying an important piece of the town's history. 

Good told Kera News: 'That doesn't seem right that you demolish the most important historic home in Highland Park and in return you're granted greater permissions to build back a replacement house.'

Realtor Douglas Newby told the outlet that the Cox Mansion was an integral piece of the town's fabric. He said changing the zoning code would impact the entire community, not just Beal. 

'This sets the tone for the entire Highland Park Township - the entire community -because it's so visible,' Newby asserted. 

Beal quietly bought the Cox Mansion mansion in 2021 and destroyed the building - which many considered to be a historical icon - last year. 

The stunning house at 4101 Beverly Drive was built in 1912 and owned by Dallas businessman Edwin L. Cox, who made sure to preserve the estate until he died in 2020. 

Beal sent shockwaves through the Highland Park community when he ripped down the mansion that many considered a historical icon.

The Cox Mansion was previously home to famed Park Cities socialite Susie Rose Lloyd, who was known for her exquisite parties and eccentric flare.

Little is known about Beal's purchase of the mansion, which sits on roughly seven acres of land along Turtle Creek.

However, deed records reviewed by The Dallas Morning News revealed Beal made a $41 million loan to the buyer - a trust with an address traced back to Beal Bank's headquarters.

Before demolishing the Cox Mansion, Beal gutted other historical properties across Dallas. 

Beal previously bought Margaret and Trammell Crow's mansion, which was built in 1912, for approximately $60 million in 2016.

He later destroyed the home and chose to sell the vacant lot to Leslie Ware, a Dallas-based attorney, The Dallas Morning News reported.

In August, 2024, Preservation Park Cities - a non-profit organization committed to 'helping to celebrate and promote the preservation' of landmarks in the Dallas area - announced the end of an era for the Cox Mansion.

'Along with our community, we are saddened to see that what started as a restoration of The Cox Mansion has now resulted in demolition. We don’t have answers to our questions of how and why this happened,' the organization wrote alongside devastating pictures of the mansion that is now a pile of rubble.

'4101 Beverly Drive (at the corner of Preston Road) was built in 1912 by Hubbell & Greene architects. This Italian Renaissance mansion, originally known as The Rose Youree Lloyd Mansion, was a historical icon of Dallas architecture. Its presence will be greatly grieved.'