Tuesday, September 01, 2009

The House: Why These Luxury Residences aren’t Selling

A lousy economy, a tough housing market, and the Victory Park problems are all wreaking havoc on the luxury condominium residences of the House.

Let’s start off by saying that the House is simply outstanding. In terms of luxury surroundings and upscale services and amenities, it is unsurpassed.

The Magnificence of the House

Rising 28 stories into the Dallas skyline, The House features one, two and three-bedroom condominium residences priced from $399,900.

The architecture and exterior designs, which were designed Elkus Manfredi, are a lesson in perfection, while the stunning interiors, designed by Philippe Starck and Yoo, speak of exquisite taste and design sense.

Just some of the residence finishes found throughout the House include limestone bathrooms, gleaming, hardwood floors, high-end appliance packages, soaring ceilings and breathtaking views of the Dallas skyline.

Perhaps the only thing that surpasses the outstanding residences of the House are the outstanding services and amenities.

Just some of the services and amenities afforded to the residents of the House include: a 130-foot lap pool; a dog park; a fitness center, complete with Italian-designed fitness equipment; a conference room; and a guest suite.

The location of the House seems to be nearly perfect, as well, as it is comfortably situated smack dab in the middle of Victory Park, near the American Airlines Center, the W Hotel and Condominiums and the House of Blues.

Victory Park and its Flaws

But perhaps it is the Victory Park location that has hurt the sale of the House.

Victory Park, hailed by some as Dallas’ best achievement, is a sprawling, 75-acre community that was originally the brainchild of Ross Perot. He envisioned upscale dining and shopping, and equally upscale residences.

Victory Park’s location was also masterfully designed, as it is ideally located near all, major areas of Dallas, including the Arts District, Turtle Creek, Uptown and, of course, downtown Dallas.

However, it seems that Victory Park in all its splendor has turned many potential residents and visitors away with its almost too high-end offerings.

The result is that many of the marvelous residences of Victory Park, including the House, are not filling up quite as quickly as expected.

The developers of Victory Park seem to have taken note of this flaw in its design, and have subsequently begun bringing more economical venues here.

As the developers begin to realize the importance of more popular retailers and restaurants, Victory Park will soon become the premier destination for Dallas residents, thereby helping the overall success of the House.