Neither Teixeira Duarte Version is Awaiting Planning Approval

Neither Teixeira Duarte Version is Awaiting Planning Approval

On July 26, Teixeira Duarte and Masterplan had what would be their final meeting with the neighborhood to negotiate a better plan for their lots on Hood and Dickason tentatively called Turtle Creek Haus.  The following week, Masterplan presented to the Oak Lawn Committee about the progress being made.  All seemed to be progressing well.

Apparently not.

In September, Teixeira Duarte filed plans with the city for a within-zoning (by-right) plan for the lots.  Because the plans have not been approved, the public can’t see what’s going to be built.  The permitting office told me it was to be an 18-story apartment tower. Another source who’s been through permitting a time or two told me that a September by-right plan still awaiting approval is a little odd.

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Map Labeled 1

Teixeira Duarte, founded in 1921, is a Portugal-based conglomerate with significant operations in real estate and construction. Revenues in 2015 were €1.49 billion, down 13 percent from 2014’s €1.71 billion.

The company operates in 17 countries, but their main real estate spheres are in Portugal and Brazil, with a smattering in Africa.  The company intends to construct a residential tower at Dickason and Hood Streets. Award winning, Dallas-based architect Javier Espinoza will design the building currently named Turtle Creek Haus. “Residential tower” could mean rental or condominium, depending on which plan moves forward.

Last night at the Reverchon Park Recreation Center, about 30 local residents met with representatives of Teixeira Duarte and Masterplan, as well as architect Javier Espinoza.  It was the second meeting with the community.

I was unimpressed.

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21 Exterior

The first installment of this transformation story can be found here.

Aside from the hard-dollar utility bill savings, this overhaul delivered other benefits to residents as well as uncovered some interesting history.

Temperature Control

In 21, the building at 3883 Turtle Creek, units on one side froze in winter while the other side baked in the summer.  Some residents had gone so far as to install auxiliary HVAC units on their patios.  After the upgrade, owners happily removed those units.

They told me another part of the issue was that back in the 1960s, HVAC building codes only called for air-conditioning to lower indoor temperatures by 20 degrees.  On 105 degree days, 85 degrees was A-OK. Codes have changed and that just doesn’t fly today.  Sitting in front of an open refrigerator, TV propped in on the vegetable bin, is no way to live.

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Cole Exterior 2

Built in 1961, Cole House at 3321 Cole Avenue is a full-on, midcentury swankfest.  From the second you walk in the door you’re convinced all that’s missing is Dick Van Dyke falling over an ottoman. I decided to walk down to Sunday’s open house when I read “studs” in the agent’s description. That is, in 2011, this unit was taken to the studs and renovated top-to-bottom.

You can hardly beat the location, being on the quiet block of Cole between Lemmon Ave. and Hall St. You’re in the thick of the Uptown/West Village scene without a lot of the weekend boozy hijinks found on more active streets. And the closeness to the Katy Trail and Central Expressway is a help for flicking about the city on foot or tire.

So anyway, you walk in from the street and follow an open air, landscaped inner courtyard path to the unit.  These few steps allow you to decompress from whatever else is afoot in your life. It’s a wonderful transition to another world.

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Goldcrest units in the MLS are the stuff of legend

Goldcrest units in the MLS are the stuff of legend

On the eve of whisking out of town, a Goldcrest unit popped onto the market. With just 54 units and a booming private sale market, seeing any unit on MLS is cause for a prospective buyer to pop some champagne … just as soon as their broker has secured the first tour PDQ.

When I spoke to Paige Elliott with Dave Perry-Miller the next morning, she said there were already multiple brokers champing at the bit to get in. So my fingers are flying as I write this so you can see it before it’s snatched from your eyeballs’ grasp.

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The French-Inspired Vendome

The French-Inspired Vendome

Basking in the metaphorical Marlboro-hazed afterglow of the recent Exxxotica confab, I remembered there’s another penthouse stripped down to its skivvies and waiting to be dressed up. This time it’s the Vendome’s 12,370-square-foot penthouse 20 D/E/F being marketed by Dallas high-rise pioneer herself Judy Pittman.

No, I didn’t slip a decimal point, it is twelve-thousand, three hundred and seventy square feet. Lay those square feet out in a single line, it would be 2.34 MILES LONG. As if that weren’t enough, there are nine parking spaces (perfect for Airbnb guests). As you face Vendome, it’s basically the whole left end of the 2-story mansard roof.

And I never thought I’d type these words, but at $3.73-million, it may just be considered a bargain! That’s $301 a square foot. Figure another $200-ish a foot to outfit it into the most swish pad in Dallas. In the end, you’ve got a massive and massively personalized home that’s still kinda a bargain.

Especially when compared with some other more tumbledown 4,000-6,000 square foot “cottage” penthouses floating around Dallas you’d probably gut anyway. After all, if you’ve got this kinda change in your sofa, you’re going to want to put your imperator on the place, right? Heck, I know I do and my imperator is stamped in Glidden!

Note: I actually saw a 2-person chapel 10-feet from the master bed in one penthouse recently. This prompted me to ask what happened in that room that forgiveness was needed so quickly.

Buyers wanting a little privacy are in luck. There may be three units on the 20th floor – another owner-occupied 12-thousand footer and a third, 5,086 square foot maisonette – but with your own elevator bank, none of them will be sending pesky servants over for a cup of sugar. At least not in the normal way …

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Pretty soon there will be a much larger one of these in the Harwood District, only it's going to cost you more to get inside.

Pretty soon there will be a much larger one of these in the Harwood District, only it’s going to cost you more to get inside.

This morning’s Ebby Alert contained a surprise. Prices at the Bleu Ciel (the next rich, rich, rich highrise in Dallas) are rising right along with construction. So if you’ve been fiddling and diddling about putting a deposit down, it’s gonna cost ya!

Originally the 158 units had starting prices of $700,000 for the smallest 1,373-square-foot units (or $509-per-square-foot). Today that ’07 unit (707 to be exact) on floors 7-27 lists for $805,000 (or $586-per-square-foot). This represents a 15 percent increase … for a property still under construction. No moss growing here!

Other (much, much) larger units have also taken a hike upmarket:

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HOA dues are a mixed bag when you consider what they include.

HOA dues are a mixed bag when you consider what they include.

Buying into a multi-tenant dwelling will likely add another wrinkle to your finances: HOA dues. Yes, there are some multi-tenant townhome developments that have no HOA dues at all. While on the surface that sounds marvy, in reality, it’s a bit flying-without-a-net for me. With no cash reserve, any shared issue or expense has to be agreed on and hastily paid for.

As far as I know, except for The Beverly, Dallas high rises base their dues on unit square footage per month. For example, a 1,000-square-foot unit in a building charging 60¢ per-square-foot, per month, would equate to $600 per month. The Beverly has a set rate for every unit, regardless of its size. Some buildings, like Park Towers, increase the rate based on unit location – the higher the floor, the higher the rate (the closer to God?).

The monthly “nut” for a single-family home will include a mortgage (or not), utilities, insurance and property taxes. It may also include gym memberships and maintenance costs for landscaping and swimming pools.

A multi-tenant home will have some of those expenses bundled into their HOA dues. The nut needed for a condo will include a mortgage (or not), HOA dues and property taxes. Condo HOA dues may also include utilities, insurance and maintenance.

Personally, I’m a big fan of life automation. What bills I have are charged to a single credit card that I pay electronically. Similarly, HOA dues rollup my individual bills for water, sewer, gas, electric, cable TV, pool maintenance, insurance, landscaping and even contribute to a reserve savings account for unexpected issues. When I think back on all the checks I used to have to write…

But not everyone thinks as I do (more’s the pity, eh?). I pointed out in a previous post that many high-rise newbies will chafe at the thought of HOA dues. I sure did.

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