Tuesday, March 07, 2017

Urban-style homes get underway near Dallas' Bishop Arts District

A Dallas-based development group, Larkspur Development LP, has started its latest urban-style home project and its first in West Dallas, which will bring 16 townhouses within walking distance of the Bishop Arts District.

The project, called The Row on Elsbeth, will bring red-bricked townhouse with divided light warehouse windows and gooseneck lighting to would-be residents starting at $450,000.
"We had watched this property for a while because there was an old nursing home abandoned and dilapidated on the site," Carl Anderson IV, co-founder and managing partner of the development firm, told the Dallas Business Journal.

"The whole neighborhood went through a massive rezone as part of the 820-acre new Gateway district and we were able to buy it for an attractive price," he said
The nearly half-acre of land will be home to the $16 million townhouse project and will bring the only new 'for sale,' product to this neighborhood, he said.
Scott Lake of Dallas-based Davidson Bogel Real Estate represented the seller of the land in the deal.

Dallas-based Alamo Manhattan is underway with its Bishop Arts Station, which will bring apartments with ground-floor retail to the entrance of the Bishop Arts District. Crescent Communities, based in Charlotte, North Carolina, is also underway on its neighboring mixed-use development.

"Bishop Arts is such a unique district that is the result of an organically-grown neighborhood," Anderson told the DBJ."If you wanted to design a submarket like this, you couldn't just plop it down. It reminds me of South Congress in Austin."

Larkspur, which has been developing primarily in East Dallas, has about nine-such projects either under construction or slated to begin in the near future. The firm is already pre-selling homes in the Fitzhugh Avenue corridor, called The Quarter and The Block.

Larkspur also recently completed the second phase of The Ivy and Bennett Avenue Townhouses in the Knox-Henderson corridor.

Anderson, who oversees the projects with his brother Christopher, said he's seen an increased demand for these urban-style homes in walkable neighborhoods near the center of Dallas.

This latest project will give homeowners access to 60 nearby boutiques, shops and restaurants, as well as be right across the street from the new streetcar that will provide direct access to downtown Dallas.

Candace Carlisle/Dallas Business Journal.