Do you find it difficult to imagine the ugly duckling becoming a swan before lights come on at last call? In real estate, lots of people are just like you.  Watching, watching, watching as HGTV’s parade of annoying renovators turn a curse into a blessing. But walk into the aforementioned cursed property and you’re reaching for a smelling salt boilermaker instead of seeing the possible blessing.

No more.

In 2004, the Hotel Zaza was built along with 37 condos branded as the Metropolitan Club (map).  Today it sits in the thick of Uptown with the Rattlesnake Bar within a fang’s throw (the center pin in my Uptown map).  Being a hotel, residents get all the whistles like room service, ZaSpa access and the like. There’s also Dragonfly when you need some Friday lamb lollipops washed down with a Whiskey Business or two … OK three.

There are two units on the market that offer a rare simultaneous peek at the curse and the blessing at the same time.  Units 404 and 504 are identical in size (2,145 square feet) and configuration (two bedrooms with two full and one half bath) except for a minor view uplift on the fifth floor unit.

Where they diverge is that 404 is a fairly well-demolished, aborted renovation project.

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An artist rendering of the Town Center of Frisco Station. Photo courtesy of city of Frisco.

An artist rendering of the Town Center of Frisco Station. Photo courtesy of city of Frisco.

More big news for Frisco as the Rudman Partnership, Hillwood Properties, and VanTrust Real Estate sign on the dotted line for the development partnership of Frisco Station, a $1.7 billion deal.

This 242-acre mixed-use development will be located along the Dallas North Tollway, north of Warren Parkway. It will surround the Star, the headquarters and training facilities for the Dallas Cowboys.

The development package outlines plans for 4 million square feet of office space, 2,400 multifamily residences, restaurants, entertainment venues, medical and wellness facilities, industrial space, and public parks and open spaces. The initial phase of development is expected to start in 2015. (more…)