3767 Forest Lane Suite 124-1288
Dallas, Tx 75244
Phone: 214.810.8396
www.thomasdc.com

CD-approvedMatthew Thomas is the kind of man you hear about at cocktail parties, the best-kept home building secret in Dallas. Thomas Development and Construction is all about one man’s passion for working with his hands and brilliant mind, crafting, building homes of quality and distinction that create the kind of stellar reputation that generates cocktail party buzz. A sought-out builder and remodeler for those who want a personal experience, when you build with Thomas Development, it’s as if you are keeping the home building process all in your family.

A son of North Dallas, Matthew Thomas was raised in the very Dallas neighborhoods where he is now building beautiful new custom homes and remodeling ranches from the ‘50s and ‘60s. Oh, he’s in the Park Cities, too, and also venturing out to the suburbs and some second homes. He had an early passion for building in high school. During summers, he worked with his uncle, also a prominent Dallas home builder, and apprenticed with a licensed electrician during college summers. He earned his degree in business, then went to work for a boutique commercial Dallas development company…

Next, like many fine custom builders, Matthew cut his teeth with a large national home builder. He worked every aspect round the clock, from building, construction, managing quality control and warranty. He inspected thousands of homes to make certain that construction was sound and company building standards not just followed, but enshrined. His first year with the company, Matthew earned Top Builder of the Year for homes ranging from $350,000 to $1,000,000 plus homes.

But he wanted more. To gain a 360 degree working knowledge of the industry, Matthew moved into commercial construction for the next eight years. He oversaw the construction of office buildings, warehouses, prisons, hotels, condominiums, apartments, retail buildings, commercial parking garages and industrial projects. His experience gives him a unique edge among most homebuilders: commercial construction uses cutting edge materials, complex design and construction. Deadlines and budgets are tighter than in residential, and commercial contractors are continually upgrading with the most innovative building techniques.

That passion for custom building finally brought him back full circle, to the residential side. Matthew started his own residential and commercial building company, Thomas Development and Construction, in 2008. The company unifies his years of extensive construction experience with his gift of youthful energy and passion. Whether he’s remodeling a home from the studs up or building a dream home, Matthew Thomas remains dedicated to helping his clients achieve their home goals on time and on budget.

“I want my clients to live in their homes and love them with the same passion I had growing up in my family home, “ says Mathew. “Sound construction, beautiful design and an attention to detail are our first priority. It isn’t about the quantity of homes, it’s about the quality, always.”

For his clients, he says, only the very best will do!

 

Davis St looking west to N. Zang Blvd. from the CVS sidewalk.

If it’s been a few months since you last drove through the Davis/Zang intersection near the Bishop Arts District, you likely wouldn’t recognize where you are now. Buildings five stories tall are going up on three of the four corners, and a new CVS stands where El Corazón was. Melba St., on the other side of the district, is beginning to feel like the State Thomas neighborhood of Uptown: mid-rise apartments and town homes on all sides with a small historic home here or there.

Not only are the streets torn up from increasing utility sizes to accommodate the growth and reconstructing complete streets, but there are about 20 large-scale residential and commercial projects currently under construction in North Oak Cliff, totaling more than a quarter of a billion dollars of investment and adding more than 1,200 units.

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Splurge vs. Steal: Two State & Allen Townhomes | CandysDirt.com

Our “splurge” at 2719 State St. offers a rooftop deck with panoramic views of downtown.

Splurge vs. Steal is a new feature on CandysDirt.com. Every week, we look at two properties that offer something in common, but are miles apart in their asking price.  

One of the popular neighborhoods in Uptown is State Thomas, a Dallas Landmark District with a rich history. It began as the first steetcar suburb, later becoming a thriving African American community. But time was not kind to State Thomas and by the 1980s, decaying infrastructure, suburban flight, and lack of investment had taken their toll. 

Through the work of local property owners and the city, State Thomas saw redevelopment begin in the late 1980s. Today, the area thrives with nightlife, restaurants, recreation, and entertainment. Townhomes, apartments, and the largest collection of Victorian-era houses remaining in Dallas create a plethora of living options, none of them inexpensive: this neighborhood is hot and people pay a premium to live here. 

For today’s Splurge vs. Steal, pick your favorite State Thomas townhome from the two we’ve found. They’re both excellent examples of what’s available right now in the neighborhood, both with a brownstone feel. Leave us a comment with your pick! 

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Dallas Arts District: Empty by Day

Dallas Arts District: Empty by Day

There’s always a second side to a coin.  While some of the sessions at the Urban Land Institute (ULI) meeting were inspiring, others demonstrated developers’ tone-deafness to the world around them. While proud of their achievements, few reflected on the effects of their developments.

“The Uptown Lowdown: Dallas’ Hottest Urban Market”

I suspect even the dead know how hot Uptown Dallas has become. It’s so hot, the area can even shell out for world-class architects, something Dallas skyline hasn’t seen in decades. In the 1980s every other architectural word seemed to be I.M. Pei or Philip Johnson.  In the decades since, our skyline has been shaped seemingly by graduates of box-building school.

Crescent Court Lot an "Arrow" to the Future of Uptown

Crescent Court Lot an “Arrow” to the Future of Uptown

Crescent Development points out that the newly opened McKinney and Olive building, designed by Cesar Pelli, is “the first internationally acclaimed architect to design a commercial building in Dallas since the 1980s.”  Not coincidentally, in 1986 Philip Johnson and John Burgee designed the Crescent Court, which kick-started the commercial transformation of Uptown.  Sitting on a triangular lot, the Crescent seems to be pointing the way out of downtown.

And don’t get me wrong, Uptown has been a great story of urban renewal that has extended the core of Dallas northward.  But at the same time, listening to the stories of its birth were squirmy.  Attracting initial residents was difficult, as is often the case when downtrodden areas are renewed (we fear the poor). But the indifference and mocking of the area’s original residents was discomforting.

And again, I’m fine with mocking Uptown as having been full of used car lots, antique stores, and tarot card readers … they’re businesses.  But listening to the derision towards the residents who’d called Uptown home was distasteful.  We heard about developers cutting deals with “crack heads” on the corner and “showing apartments while stepping over chalk outlines on the sidewalks.” All of this seemed to be code for the people of color who lived in Uptown before the area was whitewashed by development.

Before you get in a snit, talk of crack heads and chalk outlines does not bring to mind white neighborhoods.  It also doesn’t bring to mind middle or upper class neighborhoods. I didn’t live in Dallas at the time, but I knew what the speakers meant.  Poor, black people.

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DEBJ Best Developer

Nothing like the weekend to get the real estate buzz brewing. Almost every developer I spoke with — three, all off the record, of course — is scratching their head about the way Hayman Capital Management’s Kyle Bass has brought Mehrdad Moayedi, founder and CEO of Centurion Development, into the United Development Funding story spotlight.

Bass is accusing United Development Funding of running a Ponzi scheme at the Grapevine-based institution. The company was raided by the FBI on Thursday. United Development Funding has financed more than $1 billion in residential development across Texas.

Agents carried boxes out the company door all day Friday to see what UDF is up to.  We think it’s because, starting last month, Bass began posting reports and sending letters to the media with claims that UDF is mishandling investor REIT funds, overstating the value of its assets and making improper loans to developers.

A “billion dollar house of cards” and a “Ponzi-like real estate scheme,” is what he called it. Kyle Bass’s website is udfexposed.com.

It’s hard to tell exactly what the company has been doing, unless we look at one of their prospectuses. What a firm does with investor money is supposed to be outlined in a prospectus, and the client is supposed to read it (even the fine print) and understand.

One of Bass’ beefs is that UDF is overly concentrated with lending to two clients, one being Centurion America.

“The concentration issue becomes that much more problematic if the borrowers cannot repay the loans,” said Bass, whose hedge fund, Hayman Capital Management LP, claims that UDF is operating like a Ponzi scheme by “using new investor money to pay existing investors.” At a website put together by his team at Hayman Capital — UDFexposed.com — the likely outcome is bankruptcy, he predicts.

But here’s my confusion: Centurion’s acres of dirt are tangible assets — secured by lots. And they are located in some of the hottest parts of North Texas, too, like The Normandy in Plano, Prosper, Flower Mound. And our real estate market is not in trouble as of this date and time, though house flipping is making a comeback in Vegas — yikes! Not saying our market will always be so strong, and maybe that’s one of Bass’ points.  But Centurion usually makes damn good buys — many of the company’s assets were bought back when the market was low and the company held them. Kind of a bottom-feeder. Mehrdad bought the Stoneleigh out of bankruptcy, for example.

Centurion-0122_0003_frisco

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3009-state-st-dallas-tx-High-Res-1

Photos: Shoot2Sell

As Amanda Popken noted in one of her most recent columns here on CandysDirt.com, “67 percent of residents in Dallas-Fort Worth want to live in a walkable community at some point in their lives” and yet only 4 percent and 1.5 percent of the entire region can be classified as walkable. That’s why there’s such great demand for properties in Uptown, Deep Ellum, and urban neighborhoods where you can easily traipse from your front door to restaurants, shopping, and nightlife.

That’s one of the things this gorgeous townhome on State Street has going for it, but there’s much more to this beautiful home than its accessiblity. It’s truly a high-caliber home in an excellent location. As soon as you see it, you’re sure to fall in love, so don’t take any chances with financing. Call Lisa Peters at Caliber Home Loans today so you can put your highest and best offer in on this beautiful, walkable, enviable home.

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HalfPriceBooksNorthwestHighway

In this rendering from Cunningham Architects, you can see the 34,000-square-foot REI campus that will open this spring across from the Half Price Books flagship store on Northwest Highway and Shadybrook.

In the interest of full disclosure, I should go ahead and say that my husband works for Half Price Books. But honestly, I’d be a fan of the company regardless. I’ve always been interested in how Pat Anderson grew a company from a 1,000-square-foot laundromat into a national brand, all without relinquishing the used bookstore feel that makes the brand so familiar and cool. And while the company knows how to run a successful chain of paperback-filled, nostalgia-laden stores, is it ready for the world of real estate?

As you may know, Half Price Books is developing the lot opposite of its flagship store at Shadybrook and Northwest Highway. Outdoor retailer REI has already committed to anchoring the development with a 34,000-square-foot store set to open March 3, and there is an additional 13,000 square feet for other retail. Designed by Cunningham Architects, the center will definitely stand out with a cool modern facade.

It’s all in a very unique part of Dallas, Vickery Meadow, which is mostly dense apartment communities roughly bounded by Greenville Avenue on the west, Northwest Highway on the south, Park Lane to the north, and Skillman on the east. It’s a very ethnically diverse area that is sorely lacking quality retail, and is yet over-populated with bodegas, check-cashing stores, and sketchy corner stores.

“Half Price Books has always had a great relationship with Vickery Meadow residents, and we’re excited to help bring more retail options to the area,” said Half Price Books Executive Vice President Kathy Doyle Thomas. “Every Sunday this fall, we hosted the Vickery Meadow Local Market in the parking lot of our Half Price Books Flagship store. Our neighbors, businesses in the area, and the city of Dallas are very excited about our new development.”

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Thomas Front

You don’t have to head for the ‘burbs if you want to spread out. That’s what this gorgeous condo in State Thomas — a wonderful Uptown enclave — will make you see. It’s cozy and bright and spacious without sparing the luxury finishes you’d expect in this area.

Thomas Living

Marketed by Dave Perry-Miller agent Steven Beard, this gorgeous 2,538-square-foot condo in the Thomas Court development is just perfect for someone who wants a city lifestyle — close to arts and culture, transit and transportation — without sacrificing space and privacy. It’s listed for $589,000, a good deal for a two-bedroom, two full and two half-bath property with two living areas in one of the most highly sought after areas in Uptown.

Thomas Dining

What makes 2853 Thomas Ave. better than great is its location. Just north of Woodall Rogers Freeway and within walking distance of Klyde Warren Park and the Dallas Arts District, and don’t forget about the legendary shopping and restaurants just steps away. It’s an area that has adorable historic homes, too, including some absolutely killer Victorians and Craftsman homes that have sparked more than just a few bidding wars. Still, if it seems like apartment and condo developments are popping up overnight like mushrooms, it’s because they are. According to Steve Brown, Uptown leads the entire North Texas region in construction starts. There are 10 developments on their way to completion and 9 more planned Brown said in this brief.

Thomas Kitchen

So maybe now is a good time to get the home of your dreams, and folks, this one could be it! The kitchen in this unit is just amazing, too, with brand-new Kitchen-Aid appliances and a huge countertop that will give the lucky home chef plenty of prep space. The cabinets are understated, and the lighting is warm and homey. There’s also a built-in desk — perfect for taking notes, paying bills, or charging phones.

Thomas Master

If you’re not in love yet, check out the master suite. Besides having a fireplace (how romantic!) it has tall ceilings and huge windows that make this room feel like a retreat you’d more likely find in a luxury hotel. The master bath has a huge wet area with a shower and a tub that will comfortably fit two, if you know what I mean …

Thomas Master Bath

The community has a great pool, spa, and grill, too, so it isn’t lacking in amenities but if you could do without the maintenance of a home in the ‘burbs, this is the perfect urban property for you!

Thomas Balcony Thomas Pool