Doug Chesnut-cropped

 

DFW Reimagined and CNU North Texas hosted their Fall Breakfast Seminar Wednesday, with an interview of Doug Chestnut, CEO and Founder of StreetLights Residential.

With their eight recent and current projects in Dallas, and many more nationwide, StreetLights Residential is on a roll. In Dallas, you’re probably familiar with their work. Recent and current projects include:

The Jordan on McKinney Ave at Pearl St, The McKenzie just off Knox St, The Case Building in Deep Ellum, The Taylor on Carlisle St in Uptown, Trinity Green on Singleton in West Dallas, The Union at Field and Cedar Springs, Residences next to Deep Ellum’s Knights of Pythias building, and another yet-unannounced residential project in Deep Ellum featuring artist living and artisan shops.

The Jordan

The Jordan

Doug confirmed that this demand wave they’re riding, for more urban residences, is a demographic trend that will not be changing anytime soon. Many Baby Boomers who lost a lot of equity in the financial downturn of 2008 decided to liquefy their home equity and change their living situation. That, plus the 2 million Millennials turning 22 years old every year for the next eight years, is a lot of demand. Many of these young professionals don’t have the income to buy a home, nor desire a lifestyle that requires driving. In essence, they’re looking for quality of life through an urban lifestyle with amenities close at hand.

StreetLights Residential has built its business on this principle — that a building and the neighborhood’s design creates lasting value and quality of life. Said Chestnut: “Endearing neighborhoods have activated streets, parks, and entertainment nearby. You go to bed exhausted and can’t wait to get up early and do it all over again. Entertainment doesn’t have to be Six Flags or million-dollar museums, it can be as simple as having a glass of wine on a patio.” Great cities flow.

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Photo courtesy Oak Cliff Blog

The clock is ticking for the old Mission Motel in West Dallas as Trammell Crow Residential begins work on a new development on the site and adjoining lots, which will include 300 rental units, as well as 14,000 square feet of retail space.

“We are tearing it down. We just finished asbestos abatement and will start demo soon,” said Matthew Enzler, Managing Director for Development at Trammell Crow Residential.

We reported on the developer’s purchase of the Mission Motel last July. Over the holidays, the developer tore down an old bank at Fort Worth Avenue and Yorktown Street. The Mission Motel and two other nearby properties will also be cleared soon, Juan’s Body & Frame and Nino’s Body Shop. Jump to read more.

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Dallas High School Dallas Whisperer

Photo: The Dallas Whisperer

I think, given its location and size, that the Dallas High School (nee’ Crozier Tech) building at Pearl Street and Bryan just across from Plaza of the Americas at the DART Rail station, should be a combined live/work loft space, a kind of incubator for artists and entrepreneurs. It would give something to the area that the nearby Dallas Arts District desperately needs — affordable housing for artists.

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Mission Courts

Photo: Flickr user Christian Spencer Anderson

First, let’s disambiguate: Trammell Crow Residential is not the same Trammell Crow Co. that is looking to build the Sam’s Club in Uptown East/East Village/Cityplace, which is a subsidiary of commercial development firm CBRE. Trammell Crow Residential is owned by Crow Holdings, and has no connection to Trammell Crow Co., but is actually owned by the Crow family.

Now that we’ve got the name game out of the way, let’s talk dirt: TCR has purchased the old Mission Motel — an old Route 66-era motor inn on West Commerce street just down the road from Sylvan | Thirty, which was once an old motel (Alamo Plaza Hotel Courts), too. They are both just down the way from the beautifully restored Belmont Hotel, which is also home to the award-winning restaurant from sausage-preneur Tim Byres called Smoke.

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