As more and more Baby Boomers are struggling to downsize from larger, family-oriented properties, the appeal of “aging in place” has grown. In AARP’s “Survey of Home and Community Preferences,” 76 percent of Americans aged 50 and older said that they wanted to remain in their current home as long as possible. So, if you’re already planning to make a move, choosing a home that will work into your retirement is key. 

A home that works well for Baby Boomers looking to “age in place” will have plenty of security, a first-floor master suite, an elevator to access the upper floors, a low-maintenance landscape, and plenty of room for visiting family and friends. Of course, many Baby Boomers don’t want to waste precious time redecorating or remodeling, so finding a home that is move-in ready is absolutely key.

Today’s High Caliber Home of the Week presented by Lisa Peters of Caliber Home Loans is all of those things and stylish, to boot! It’s a gorgeous brick traditional listed by Dave Perry-Miller Real Estate’s Stewart Lee and it’s perfect for all of those beautiful Easter brunches with your loved ones! We’re also in love with the neighborhood — Glen Lakes

“Glen Lakes is a fantastic gated community conveniently located and close to major shopping,” Lee said. “It has friendly neighbors and wonderful recreational facilities including a spectacular 2.5-mile trail for walking in a park setting with private lakes and fountains. It also includes a pool, heated spa, and two tennis courts.”

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Perry-Miller Streiff Group

Nine agents thus far, and by the time you read this, there may be TEN!

This past summer, in-between saving and remodeling his historic estate, Waverley Hill, in Staunton, Virgina, Dave Perry-Miller and Ryan Streiff were up to something else. Together, they formed the Perry-Miller Streiff Group of eleven power house agents & dedicated support staff now working out of the flagship Dave Perry-Miller Real Estate office on Berkshire.

And the entire city is paying close attention.

This group closed 2016 by selling a whopping $100 million of real estate. The team is led, of course, by Dave and Ryan, and other members of this elite team include: Laura Michelle, Courtney Jubinsky, Karen Fry, Gaynelle Henger, Jason Bates, Charles Gregory, Kathy Finn, Betsie Sears, and Carolyn Vandagriff.

“Our clients appreciate not only the high end marketing and staff support, but also the unmatched agent collaboration that is unlike any other real estate team in town,” says Gaynelle Henger

And they are going to kill it in 2017: just last week The Perry-Miller Streiff Group had a record breaking closing (since 2009, that is) in Lobello Estates. The Perry-Miller Streiff Group also recently brokered the last two highest sales ever in the hot-getting-hotter gated community of Glen Lakes:  7 Kingsgate, listed for $1,995,000, and 7711 Glen Albens, a home that was, like many of the team’s sales, an off market deal when it actually sold, having been previously listed and in MLS both with Ryan Streiff and with Briggs Freeman. The home, designed by Ralph Duesing and built by Tommy Ford, was last listed at $2,795,000 and had been on the market since 2013. Like we said, Glen Lakes is HOT.

7711 Glen Albens copy (more…)

Champs-DOr5

Update: I’ve received a lot of email on this post, which delights me. Definitely see the comments. But I need to clarify and correct a couple things:

1. There was a typo (hello, my name is typo, what’s your’s?) in the 75225 zip code: median income there is $130,332.

2.  75225 is not Highland Park — 75225 is Dallas.  There is only a portion of Northern University Park that is 75225,  but none of Highland Park fits into this area.  It is Preston Hollow, Windsor Park, Glen Lakes, and Caruth Homeplace.

3. Readers think there may be a couple hundred folks in Preston Hollow with median incomes of $10 million a year or more. I think I know a few!

Do you think people are building bigger and bigger houses in Dallas? You may be right: Dallas has placed fourth nationally in a ranking for double-digit millionaire growth in the last decade.

Let’s put it this way, as Paul O’Donnell at the Dallas Business Journal did::

             The number of people earning more than $10 million a year has jumped 58 percent in Dallas – from 1,750 in 2004 to 2,770 in 2014. Only in-state rival Houston, and West Coast cities Seattle and San Jose saw bigger gains.

We even beat San Francisco. This from a March 2015 publication called New World Wealth. That is why we are seeing bigger and bigger spec homes, and part of the reason why our real estate market (etc.) is so hot. Fancy stores are coming here, not to Chicago or Detroit.

It’s nice to hang around rich people. They can afford to buy things, if you are selling them, and they are generally well-educated and well-traveled.

Of course, there are a few exceptions to this generality.

Where are they living? According to DBJ research, in five high net worth communities: Southlake, where the median household income is $145,392 (population 28,148); Colleyville, median income at $132,352 and a bit smaller than Southlake with 24,404 residents; Flower Mound, median income of $130,399 with a population of 23,527; Dallas Highland Park (75225) with a median income of $130,332 and a population of 24,149 and Argyle, population 17,388 and a median income of $113,364.

So you have 5 communities with roughly 20,000 residents each, the wealthiest in Dallas metro. That 4 out of 5 communities are not within Dallas County or the city itself — Highland Park is a separate township — concerns those who believe Dallas is stagnating when it comes to growth.

Also, these are 2013 figures. Populations in these areas could be even higher today, with the exception of land-locked Highland Park.

Preston Hollow Village

Fresh after winning Dallas City Council approval of their Cole Avenue project, Provident Realty Advisors is hyper focused now on their mixed-use, $300 million plus masterpiece at Walnut Hill Lane and Central: Preston Hollow Village. Cannot tell you how excited I am to see this development make it’s Dallas debut. It’s one of the most significant corners in the city, and one of the largest infill tracts of land in the Southwest. I recall the days when the 42 acres were covered with the Willow Creek Apartments, 1960’s era garden style townhome units that had more than their share of fires. (They did have pleasant ponds where we once freed a pet duck.) There were cute shops, too, and, ironically, a nice fireplace store. 

Willow Creek Apartments Dallas Morning News files

Willow Creek Apartments
Dallas Morning News files

Even more deja vu: the current developer was once a previous owner of the land, Provident Realty Advisors, Inc. Back then they planned a Euro-style “urban village” with 1,100 apartments, 175,000 square feet of retail space and senior housing. Down came the aging apartments, up came the recession. The acreage remained barren for five years as nothing happened on the land. (more…)

I am just so darn giddy with excitement, I had to go search and see if I really did tell you this, and I DID!!!, last November when Central Market was under construction at Preston Royal. I had heard from a reliable source that Trader Joe’s was going to plant its second or third Dallas store at the northwest corner of North Central Expressway and Walnut Hill Lane.

What fabu news for the neighborhoods! The famous West Coast foodie store that you have to drag me out of in Santa Fe or Cali will anchor a new development to be built on the vacant 42-acre property on that corner that is also to include an R.E.I.

Once upon a time, many moons ago, that corner was the Willow Creek apartments and shopping center, which were torn down starting in 2007, after a fire. Provident Realty planned to build a $300 million urban shopping and housing village on the tract. But the project stalled during the recession and bank credit crunch. Wells Fargo foreclosed on the tract in late 2009. I recall an auction where no one bought. Kroenke Holdings bought the land from Wells Fargo Bank in 2010 and formed a partnership with Provident Realty to continue development. Isn’t it nice that despite the bust, this project still came together?

Seems the stinkers at Provident Realty Advisors and Kroenke Holdings of Missouri have been covertly working with Trader Joe’s since last summer, planning a 14,000 square foot store as well as a variety of other developments on the corner, including several hundred units of multifamily residential at the same time. Keeping us in the dark, eh?

Trader Joe’s is opening its first two Texas stores on June 15 in Fort Worth and Houston; nine locations have been announced for Texas so far, including two more locations in Houston and one each in Austin and San Antonio.

According to Steve Brown, Trader Joe’s is “known for its value-priced store brands, kitschy interiors and zany marketing campaigns, Trader Joe’s has been in business since 1958. The company has more than 370 stores in 32 states.” Me, I like Two Buck Chuck, the ginger cookies and everything in the prepared food case.

The neighborhood is already AA Central: Houston-based Spec’s Wines, Spirits & Finer Foods has a 43,000-square-foot store (Good Lord!) near the southeast corner of Central and Walnut Hill, and is opening up another location at Preston-Royal where Blockbuster used to be. (Talk about the maturing of the community: it used to be a Toys R Us!) Then Total Wine & More, a Maryland wine and beer retailer, is opening a store in this quad. As my friend Wyman Elrod says:

“There will soon be large liquor and wine merchants on all four corners of this intersection. You should move to The Meadows or Glen Lakes and walk to get your wine! You probably can even have it delivered like Ozarka!”

Another coolio thing about this deal: the neighboring Homeowners Associations really worked with the developers on the site:

“As most of you know, the 42-acre property at the northwest corner of Walnut Hill and Central Expressway that was owned by Provident Realty Advisors was foreclosed on by Wells Fargo late last year. Because the Wells Fargo loan pre-dated the private deed restrictions (“PDR”) that The Meadows, Glen Lakes and Windsor Park had collectively negotiated with Provident, the PDR has been negated. However, the zoning that we negotiated remains in place (see www.themeadowsna.org for a copy of the approved zoning). Because of continued support from our City Council representative and the expectation that any future owner will likely seek changes to the existing zoning, we believe we will have reasonable influence in what ultimately transpires on the site. As a reminder, current zoning includes, among other things, a requirement that the western-most 385 feet (approximately 17 acres) be solely residential, with no more than 140 residences that must be townhomes (rather than condos, apartments, etc). Wells Fargo has recently opened up bidding for the site. The Joint Task Force (made up of representatives from The Meadows, Glen Lakes and Windsor Park) will continue to work with potential developers on behalf of our respective neighborhoods. The JTF is currently taking the approach that, rather than express upfront what our neighborhoods want on the site, we will wait and see what the future owner/developer has in mind.”

 

 

 

 

This foreclosure in Glen Lakes is the perfect new home for Pilar Sanders.

Things are not looking good for Pilar Sanders. After their hearing yesterday, Deion Sanders won a restraining order that will keep Pilar 500 yards from their opulent Prosper mansion and that gigantic African statue. So, obviously, the soon-to-be ex-Mrs. Sanders will need a place to stay, right? We have just the thing, and it’s a deal, too!

Pilar will feel plenty at home over at 5 Crownwood Court in the Glen Lakes subdivision. It’s a foreclosure (as Candy tells me, it was owned by a podiatrist who couldn’t “foot the bill!” LOL!) so it’ll be affordable at just $849,900, which will help her when those lawyer bills start rolling in.

And it’s a great size, too, at 5,238 square feet with three bedrooms and 4-and-a-half baths. Sure, it needs a little work (the carpet has GOT TO GO! UGH!). That’s what the discount is for, right?

The master closet at 5 Crownwood Court has plenty of room.

But, there’s one thing Pilar won’t have to update, and that’s the wet bar with a wine fridge. A must for anyone going through a divorce, no? I mean, what’s worse after a long day in court? Your Chardonnay being the wrong temperature when you really need a drink.

The kitchen has plenty of bells and whistles, and there’s granite tile in the master bath. And it’s accessible: close to shopping and North Central Expressway. And there’s plenty of security and covered parking. Oh, and it’s also a plenty safe distance from Prosper. Way more than 500 feet.

 

REI and Trader Joes, Too?

Why? Because these are the lucky ‘hoods that get the first Trader Joes in Dallas. I am so psyched. My dogs are so psyched. Teresa Gubbins and others report that Trader Joe’s has announced two new locations for stores, one in Dallas and one in Plano.

The Dallas store will open on Lower Greenville Avenue where the Arcadia Theater once stood. The Plano store will open in an old Kroger location at Preston and Park, in the same shopping center as outdoorsy store REI.

Speaking of REI, I have been meaning to tell you that one is also coming to the primo shopping center at Walnut Hill Lane and Central Expressway. I learned this at a holiday party and word was Trader Joes’ might still open a store there, too. But the guys in Preston Hollow are pretty psyched about having an REI so very close by!

As you may recall, those 42 acres are considered the best commercial dirt in town. They were owned by Wells Fargo bank from a foreclosure on Provident Realty Group in 2009. The neighbors have been quite concerned about and watching over that property. The property was purchased in October, 2010 by a partnership set up by Kroenke Holdings of Columbia, Mo. Kroenke Holdings, a private owner and developer of properties including shopping centers and apartments, is owned by billionaire sports team owner E. Stanley Kroenke who is married to Ann Walton. Maybe that means a WalMart is sure to pop up.

Looks like Stan and Ann are taking over the whole darn hood: Kroenke also just bought 80 acre MidTown Park, at Meadow and Central about a half mile north of the Walnut Hill/Central spot. It was  in a receivorship.

Last year, the neighbors expressed their concerns over any changes to the mixed-use zoning:

“As most of you know, the 42-acre property at the northwest corner of Walnut Hill and Central Expressway that was owned by Provident Realty Advisors was foreclosed on by Wells Fargo late last year. Because the Wells Fargo loan pre-dated the private deed restrictions (“PDR”) that The Meadows, Glen Lakes and Windsor Park had collectively negotiated with Provident, the PDR has been negated. However, the zoning that we negotiated remains in place (see www.themeadowsna.org for a copy of the approved zoning).  Because of continued support from our City Council representative and the expectation that any future owner will likely seek changes to the existing zoning, we believe we will have reasonable influence in what ultimately transpires on the site.  As a reminder, current zoning includes, among other things, a requirement that the western-most 385 feet (approximately 17 acres) be solely residential, with no more than 140 residences that must be townhomes (rather than condos, apartments, etc). Wells Fargo has recently opened up bidding for the site.

The Joint Task Force (made up of representatives from The Meadows, Glen Lakes and Windsor Park) will continue to work with potential developers on behalf of our respective neighborhoods. The JTF is currently taking the approach that, rather than express upfront what our neighborhoods want on the site, we will wait and see what the future owner/developer has in mind.”

Kidding. Sort of. The folks who live near those 42 vacant acres at Central and Walnut Hill are going to be tripping over ‘dozers and cement trucks now that a Missouri investor has snapped up the land and created a new chapter for Dallas real estate. But the question is, how much did he pay for it, and what’s he going to do with the real estate now that he has it?

Let’s go back to 2009, if we really must. Dallas real estate Developer Provident Realty Advisors cleared out the old apartments on this site — I recall at least two fires there. But there was also a lovely lake, where we took a pet duck after one of my zanier Easters and found out she was a female when all the male ducks tried to mate her. I thought they were killing here and intervened, it wasn’t pretty. But I digress. The 42 acres were going to be the site of yet another “West Village” at this very juicy intersection which is a few blocks from a commuter rail station and on one of the the busiest highways in the state. Let me define this version of West Village: 175,000 square feet of specialty restaurant and retail space, 1,100 apartment units, a small office building and a 104-home luxury residential village. I was told townhomes starting at $500K and high-end, boutique stores.

But then came the great credit crunch of 2008 and work on the $400 millionish project stalled. The land fell into foreclosure. Lender left holding the note, Wells Fargo, from Wachovia. Debt of $40 million.

Steve Brown says  the property has been acquired by a partnership set up by Kroenke Holdings of Columbia, Mo. Kroenke Holdings is a developer headed by billionaire sports team owner (Denver Nuggest, St. Louis Rams, Colorado Avalanche) E. Stanley Kroenke. Kroenke has holding companies owning and managing more than 20 million square feet of shopping centers in 17 states stretching from Colorado to New York, says Steve. And now Texas:

“THF Realty also has a long business relationship with retailing giant Wal-Mart Stores Inc . Kroenke is married to Wal-Mart heiress Ann Walton.”

A Wal-Mart mini-mart might be nice here. Guess who‚Äôs got top concern over what will happen to that property? The folks who live next door. Representatives from three area homeowner’s associations really kept on top of this development, some say maybe too much — they made it too hard for the developers to do anything. Their concerns:

As most of you know, the 42-acre property at the northwest corner of Walnut Hill and Central Expressway that was owned by Provident Realty Advisors was foreclosed on by Wells Fargo late last year. Because the Wells Fargo loan pre-dated the private deed restrictions (“PDR”) that The Meadows, Glen Lakes and Windsor Park had collectively negotiated with Provident, the PDR has been negated. However, the zoning that we negotiated remains in place (see www.themeadowsna.org for a copy of the approved zoning).  Because of continued support from our City Council representative and the expectation that any future owner will likely seek changes to the existing zoning, we believe we will have reasonable influence in what ultimately transpires on the site.  As a reminder, current zoning includes, among other things, a requirement that the western-most 385 feet (approximately 17 acres) be solely residential, with no more than 140 residences that must be townhomes (rather than condos, apartments, etc). Wells Fargo has recently opened up bidding for the site.

The Joint Task Force (made up of representatives from The Meadows, Glen Lakes and Windsor Park) will continue to work with potential developers on behalf of our respective neighborhoods. The JTF is currently taking the approach that, rather than express upfront what our neighborhoods want on the site, we will wait and see what the future owner/developer has in mind.

Stay tuned. I’ve got my sources out on this one. Might be second homes, townhomes, some sort of Wal-Mart clone, or a whole new ballgame.