Oh Ltd Edition/No. 2505, we have been wondering about you! Well, wonder no more!
On Friday I received, delivered to my hot little office doorstep, “Life Elevated to Art” — a slick white portfolio all about Ltd Edition and its new marketing representation by Droese Public Relations.
“We are thrilled to be representing Ltd Edition, a 20-story, 100 unit residential tower that is set to break ground in 2016. This modern structure will be the chicest addition to our Dallas skyline.”
Chicest — ah yes. I recall the elegant first introduction to Ltd Edition: a very exclusive private cocktail party on the mezzanine at the Winspear, the elite of Dallas real estate all in attendance to meet the folks from Toronto building the very first new luxury condominium project in Dallas since Museum Tower.
GGH Development LLC, an affiliate of Canada’s Great Gulf Homes, presented Ltd Edition/No. 2505 Turtle Creek, a 22-story, then 60-unit tower going on a choice 1.4-acre site at Turtle Creek Boulevard and Fairmount Street. The planned residential building is designed by Hariri Pontarini Architects of Toronto. Interior design will be by Diego Burdi, co-founder of Burddifilej, an award-winning international interior design firm –think the W Hotel in Atlanta, the Joe Fresh Boutique in NYC, and twenty years of design crafting the most lush, glittery hotels, retail environments and residential spaces in the luxury world anywhere including our beloved Neiman Marcus. You will more about Diego and this company on these pages shortly.
And here is a first, at least in Dallas: Ltd Edition will have a famous landscape designer on the project from conception to completion. Janet Rosenberg has been retained to oversee and till the vast amount of green spaces this project will produce.
“She is known to push the boundaries of design,” writes Droese in her first press release.
Indeed! They may be plucking brilliant minds from out of town, but Ltd Edition is all about Dallas, as Christopher Wein, President of Great Gulf Residential, Norman and Elly Reisman of GGH, told us back in November of 2013. Great Gulf chose Dallas as their very first real estate venture outside of Canada. Not New York City, not San Francisco, not even dot com rich Seattle.
“Why Dallas?” said Geoff Matthews, director of acquisitions and development for Great Gulf. “It’s the key center of economic prosperity in Texas, really in the southwest U.S. You have the Nasher Sculpture Garden, the Arts District, and you submerged a freeway to create more public space.”
From the Droese press release: “Great Gulf chose Dallas as the site for this signature project because of the city’s emergence on the world stage, and its residents’ demonstrated appreciation for the finest in luxury living, art, architecture and design.”
“This is not just another luxury property,” says Christopher Wein, “but a truly curated living experience. Discriminating Dallas buyers looking for an alternative to the traditional low-rise luxury home will find it here.”
In 2013, we were told these would be estates in the sky. Much larger condominiums than Dallas has ever seen — 3000 square feet on average. Large terraces of 1871 square feet. I am talking large terraces with actual green space built into them — sprinklered landscaping, shrubs, a patch of lawn or grass, fireplaces. then barbecue grills, outdoor cooking environments and kitchens. These will not be available in the common areas for everyone but on each individual huge private terrace.
Of course Briggs Freeman Sotheby’s International Real Estate is the broker of choice, with the rock solid marketing team of Katye Sloan and Jeffrey Lester heading up sales. I can still hear the hush at the Winspear when Katye said, “these homes will essentially have wrap-around porches in the sky.”
Katye and Jeffrey were kind enough to take me to lunch a few weeks ago to fill me in on the latest with Ltd Edition. Now that Suzanne Droese and team have announced their affiliation as the publicist of record, I can tell you everything I know. Just spill the beans.
Ground-breaking on Ltd Edition will take place in early 2016, which, I hate to remind you, is only a little over 6 months away.
Note there will be 100 estate homes, NOT 60 as originally planned. That is because, after careful research and due diligence, Ltd Edition has decided to appeal to a younger affluent crowd, the “Range Rover Millionaire” millennial, who would like a slightly smaller sky home, probably because this will be one of two or more homes they will enjoy. The developer also wants to reach the baby boomer with multiple homes.
In other words, yes, the One percent. And those who want to be around them, just like the folks who fly first class from San Francisco to Bangtalore JUST to mingle with the passengers.
“There is such a migration to our area of buyers from the east and west coasts who are accustomed to smaller living spaces,” said Katye. “We have made changes in the sizes and options of floorplans available, but we have made no changes in the level of luxury.”
Thus the smallest units will be 1700-ish square feet, not 3000. The thinking is, of course, some might want to buy 1700 square feet alone or some might want to combine two (or more) unis.
In any case, there will be no more than 6 homes per floor. Research also showed that luxury buyers at this level wish to customize their homes, and buyers will certainly do that at Ltd Edition. The entry level price tag has also been reduced from $3 million, and there will be a few lower priced units with lower price per square footage points, at least on the lower units. Price per square foot was originally said to be $1000, now it’s closer to $800, averaging out at $950. So yes, you might well get in for $1.7.
Sign me up.
“We found there are 72 year old widows who are not interested in a $3 million home,” says Katye. “For them, $2 million is more appealing.”
Jon Anderson, our high rise correspondent, tells me there are a couple buildings in town that do charge higher HOA fees the taller the units become.
The amenities floor has also been re-designed, and improved. And the very contemporary style has been made adaptable to traditional or contemporary, with warm touches. Recall that the building will be designed as an arc so it is constantly capturing the sunlit view of the park, much like the time lapse over a flower. All units will face the park-side; exteriors will be clad in light gray masonry and glass. Every unit will have a private elevator. There are twenty foot terraces. And there are no columns, which overjoyed Siamak Hariri to no end when I interviewed him… because of the design possibilities it affords.
Despite all the careful scrutiny of this project, or perhaps because of it, the marketing team has already met with more than 40 private buyers who have had an active interest in this property. There are already several buyer’s reservation on the property, too. Yes, several reservations and one speck of dirt has not even turned. This is why Great Gulf loves Dallas.