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Tuesday is going to be a busy day in North Texas. But there are two events that are totally worth your time, one if you happen to be a Keller Williams Luxury Agent.

Keller Williams Luxury Homes Division for the North Texas/New Mexico/Memphis Region has invited two key North Texas leaders to the Dallas Country Club to talk about new developments and the hurdles their communities are facing. Also the blessings — which would be the new developments. Join me and Frisco Mayor Maher Maso and Director of  Dallas’ Office of Economic Development Karl Zavitkovsky to talk about these and more exciting happenings in our region. The event begins at 4:00 p.m. and ends at 6:00 p.m.

Please come KW folks, if only to hear me stumble over their names!

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KW Luxury agents are a very snall, elite percentage of Keller Williams agents. Wanna come to the party? Think about becoming the KW Luxury Homes Division.

What’s the second event? Stay tuned, stay very tuned…

 

 

Photo: Google Maps

1401 Elm as it looks today. Even though developers started some work on the skyscraper, redevelopment efforts ground to a halt last week and lenders are forcing a foreclosure auction. Photo: Google Maps

Last week, we told you about the mess happening at 1401 Elm, a landmark $240 million redevelopment deal in downtown Dallas facing forced foreclosure after a developer pulled out.

The city of Dallas had committed $50 million in economic incentives to further progress. But with of the departure of New York-based Olympic Property Partners from the project, early lenders, who shelled out $53.5 million in loans to start redevelopment efforts, are forcing a foreclosure sale Dec. 1.

Rendering courtesy of Olympic Property

City leaders say they’re still committed to the redevelopment of 1401 Elm. Rendering courtesy of Olympic Property

But city officials say they feel compelled to try and help the skyscraper. The deal is considered to be a major milestone in downtown Dallas’ forward progress, and they reiterated their support for the planned mixed-use redevelopment project, which was supposed to create a combination of commercial space and apartments.

“We are absolutely committed to the redevelopment of the 1401 building, but will need to see how the ownership situation shakes out before making a specific recommendation to the city council,” Karl Zavitkovsky, directory of the Office of Economic Development, told Steve Brown of the Dallas Morning News. “The good news from the city’s perspective is that almost all the environmental mitigation and interior demolition is completed. Redevelopment of 1401 Elm remains a high priority for the city.”

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