As we continue our Blue Line buyers’ train into Southern Dallas, we hit Ledbetter, Camp Wisdom and UNT Dallas DART stations. We also hit a lot more homes on the market. On the other side of I-35E is the Golf Club of Dallas that’s been in the news lately (here). Net-net, by simply crossing east of I-35E, prices will fall by 25 to 35 percent and the homes will be slightly more modest. But the same forest of trees.
In case you’re all confused, this is the fourth installment of my Southern Dallas Buyer’s Guide where I’m riding the DART rails to see what’s available in some of Dallas’ last bastions of affordable housing. To catch up, click here, here, here.
The neighborhoods in this area are Glenview, Spring Hills, Hidden Valley, Runyon Springs, Cigarette Hill (I kid you not), Wisdom Terrace, and Wheatland Meadows.
Last week, Amazon announced they are seeking proposals from municipalities to build a second headquarters away from their original Seattle location. They expect to spend $5 billion to fully build-out the campus that would house “as many as 50,000 high-paying jobs” and be the same size as the Seattle campus … over the next 15 to 17 years. They also figure their gravitational pull will bring in “tens of thousands of additional jobs and tens of billions of dollars in additional investment in the surrounding community.” High-paying is defined as jobs exceeding $100,000 per year in salary.
Recent developments surrounding the Golf Club of Dallas, formerly the Oak Cliff Golf Club, bring to mind a panel discussion at June’s National Association of Real Estate Editors confab. Seems golf clubs are not as popular with the young as they are with their parents’ and grandparents’ generations. There are several reasons for this, including shifting socialization patterns, negative perceptions of the game’s culture, and cost.
It seems that as society has picked the pockets of young people for everything from student debt to over-priced apartments, there’s simply less in the kitty for expensive pastimes like golf. And golf is an expensive activity. Aside from the stereotypically garish ensembles, it’s not difficult to drop a grand on a set of clubs, a couple of hundred on shoes, and upwards of $50 for every dozen balls. And that’s before you hit the links.
The Centrum hit the auction skids during the Recession
That’s right, thank them. Buy them some chocolates and champagne … maybe a spa day. Why?
Because without the over-rotation on apartments that’s happening during this building cycle, your condo would be worth less. Now, this doesn’t hold in the over-saturated, million-dollar end — in fact that part of the market has so much product, the Limited Edition was cancelled from a lack of interest and the Stoneleigh and Museum Tower are still far from full. But in the price points most of us play in? Definitely.
Were the architects colluding with the Russians on this design?
Are you a good news first kind of person, or do you want the needle before the lollipop? Heck, I’m jetlagged and feeling woozy, so let’s go with the needle. (From the picture above, you guessed that, right?)
At last night’s Oak Lawn Committee meeting, there were a trio of projects presented by Masterplan for various clients. One client appeared to have not gotten the memo and showed up, shall we say, inappropriately attired.
You know what I mean. You send invitations for an evening boat ride with big letters, “slacks, rubber-sole shoes, and bring a coat because it gets chilly when the sun goes down.” And invariably, someone shows up in 6-inch stilettos, a mini-skirt, and a tube top, who an hour and chattering teeth later, scams a coat from some chivalrous doofus.
The proposal for an apartment building at McKinney and Hester avenues (north of Knox Street) was full-on heels, skirt, and bare midriff, however the OLC didn’t offer Masterplan’s Dallas Cothrum a coat. And in truth, he knew it would be cold. This wasn’t his first cruise on the lake.
Southwest Dallas neighborhoods. Stars represent DART Light Rail stations.
[Editor’s Note: This is the third installment in Jon Anderson’s Southern Dallas Buyer’s Guide. Read the first two here and here.]
First Stop: The Tenth Street and The Bottoms
Every neighborhood needs a Lester Houston fighting for it. In Houston’s case, he’s the Cedar Haven Neighborhood Association leader located just southeast of the Zoo. Houston grew up in the area and actually lives in the home he grew up in. But Houston’s life story adds to this often-told tale of activists reclaiming their childhood. As a Marine for 35 years, he’s lived and traveled all over the world. This gives him a local and global perspective often lacking in neighborhood revivalists. He also understands hard work, discipline, and the realization that “overnight” is a pat phrase.
The area surrounding the Zoo didn’t slide into neglect overnight, and it won’t rise again overnight. The area has had several building cycles, usually after some war — be it Civil (one of the oldest black areas), or after both World Wars when the area was mostly Caucasian. During the 1960s, two things happened: White-flight took whites to the ‘burbs and U.S. Highway 77 was upsized to I-35E, severing the connection with Oak Cliff. Because of this, the area slid into decline and became almost exclusively black. I’m sure we all understand the racial motivations and freeway mania of the time, as we strive, decades later to begin healing that wound.
Kneif & Company’s K-Stone Pride Bathtub. Soup’s on!
Even before Lady Gaga popped out of an egg at the 2011 Grammy’s, I was over the plethora of egg-shaped bathtubs. I realize that bathtub shapes are limited by what is placed in them … namely people. But men, always enjoying a little manspreading (it floats, you know), would rather not have a bathtub that narrows at the legs. So speaking for all men, the recent fad of egg shapes has tired us out. It’s time to crack some eggs and see what else is out there.
You almost have a drawbridge across the moat of Turtle Creek on one side. On the other is the woodsy-ness of the Katy Trail. And yet, you’re a five-minute walk to The Mansion, ten from Uptown eateries. As I said, an island. Roughly a decade ago when II first moved to Dallas, I recall walking along Cedar Springs and wondering about the homes I saw behind their bamboo screen. In my pre-real estate salad days, that meant blindly walking around to the private road and looking.
Speaking of salad, not many of us have the salad required to own a home in this hidden precinct of 14 homes. Listed by owner’s relative Susan Marcus of Briggs Freeman, 2814 Park Bridge Court will set you back $2.75 million for all of its 4,300 square feet. At three stories with three bedrooms complimented by three full and one half bathrooms, the spaces are large.