Everything you wanted to know about the Urban Core, Uptown and Downtown Dallas, Texas & Dallas Ft. Worth Area Real Estate - Its growth, prosperity, setbacks and unprecedented revitalization is told here...Randall Turner of Harvard Companies, Inc 214-373-0007, 3500 Oak Lawn Avenue, Suite 325, Dallas, Texas 75219
Thirty years ago, the corner of Belt Line Road and the Dallas North Tollway was the retail epicenter of North Texas.
Prestonwood Town Center, including Neiman Marcus, and the deluxe Sakowitz department store sat on two of the busy corners. And dozens of eateries made Belt Line the area’s most popular restaurant row.
The mall and Sakowitz are long gone.
But a series of redevelopments promises to bring new life into the suburban retail district in Addison and Far North Dallas.
“We are reinventing the place,” said Addison City Manager Ron Whitehead, who came to work for the town in 1982 when Belt Line Road was one of the Dallas area’s most popular shopping streets.
“Two years ago, there wasn’t a lot going on there,” Whitehead said. “But the intersection of Belt Line and the tollway is very important. We have a lot of traffic that goes down that street — over 60,000 cars a day.”
Starting next month, drivers will have more reasons to stop.
“We are very happy with how all of it is going to come together,” Lieberman said. “The Belt Line-tollway corridor is a tremendous hub.”
Lieberman said the nine-screen AMC theater is set to open in mid-2014, and construction is underway on a parking garage for the theater and shoppers.
Apartment Guide, which shares information about retail properties to potential renters nationwide, has released data about moving patterns and the top searched metropolitan areas. Dallas and Houston ranked among the top 10 list, coming in third and fourth, respectively.
Dallas didn't fare quite so well when it came to top searched sister metros, however. This ranking determines where people most often move from and where they move to – statistics show that a higher number of individuals move from the Dallas to Houston metro region rather than vice versa.
Behringer Harvard REIT I Inc., a local based real estate investment trust is now operating under the name TIER REIT Inc. According to a press release, 2008, when Behringer Harvard, the company’s former sponsor, began assembling TIER REIT’s current management team with individuals possessing significant REIT, office and public company experience. In September 2012, the company internalized this management team making TIER REIT a self-managed, independent company, resulting in substantial cost savings.
Steven R. Thompson Jun 14, 2013, 7:22am CDT The Dallas Arts district and Kylde Warren Park had been sparring over the park's idea to tax surrounding properties to help with operations and maintenance costs. Dallas Arts District felt caught off guard by the public improvement district, which would tax 2.5 cents for every $100 of an appraisal value, according to the Dallas Morning News.
The 45-year-old building has been owned since 1998 by New York-based RAK Group. In 2005, RAK Main Place Associates refinanced the building with debtholders that now represented by Wells Fargo Bank.
It’s not so surprising that the skyscraper foreclosure didn’t happen...
The 7.3 percent year-over-year price gain in January reported by the Standard & Poor’s/Case-Shiller Home Price Index was the largest percentage gain for the Dallas area since the numbers have been tracked starting in 2000.
In many North Texas neighborhoods, median home sales prices this year are growing at double-digit rates.
Of course, if you’ve been wanting to sell your house and prices in your neighborhood are soaring, good for you.
And I’m sure the taxman is tickled at the prospect of higher home value appraisals.
Still, I worry that there will be a downside to the sudden rise in home prices — if not today, then a couple of years down the road when mortgage rates move higher.
Housing analysts are scratching their heads about the takeoff in home prices, too.
“We are seeing stuff I haven’t seen in my entire career,” said David Brown, who heads the Dallas office of Metrostudy Inc., a nationwide housing analyst.
Brown is closely watching the rise in new home prices in the Dallas area.
“I do worry about it to a degree,” he said. “Is this movement in price creating somewhat of a bubble?”
Some of the recent price hikes have just made up for what was lost in the recession.
That’s certainly the case in places like Phoenix and Las Vegas, where prices are up about 20 percent this year but are still far below where they were in 2006.
Many North Texas neighborhoods have regained much of the residential values lost in the downturn.
“The low inventory and high demand for certain properties — the best located, newer and most desired — will cause prices in those areas to increase dramatically,” said Dr. James Gaines, an economist at the Real Estate Center at Texas A&M University.
“Double-digit increases will be standard for this ‘primary’ market segment.”
If recent home price growth continues this year, the D-FW area will see record high prices in some neighborhoods and in the new home market.
“I, too, am surprised about the strong gains in prices,” said D’Ann Petersen, an economist with the Federal Reserve Bank of Dallas. “This is unusual for our area as we usually can add to inventories by building pretty quickly in response to rising demand.
“Price gains may continue in the short term, but I have a feeling they will ease when we add to inventories.”
Dallas County’s Interstate 20 corridor has been North Texas’ busiest industrial development market during the last year with almost 3 million square feet of warehouse space in the construction pipeline.
And now three more major warehouse deals in the works for Dallas’ southern sector could add to the building boom.
Major companies including Quaker Oats, Ace Hardware, BMW and L’Oreal cosmetics are building distribution projects in the I-20 corridor. And with additional buildings now in the works, southern Dallas County is one of the hottest industrial markets in the country. More info at: