When a condo is first built and still controlled by the developer, HOA dues are kept low to not scare off buyers. Once the developer is gone, those payments have to be reassessed to ensure they meet the needs of the ongoing repair and maintenance of the building. (Hint, they’re not.) The Mayfair, neighboring Lee Oak Lawn Park, is 18 years old, and like all buildings, various maintenance requirements need to be met. 

Soon after the Mayfair gained independence, they began conducting reserve studies that detailed the condition  of their infrastructure, its life expectancy, and estimated costs to repair or replace.  As you know, I’m big on HOAs doing reserve studies to avoid surprises that typically equate to a special assessment and/or the sudden failure of a critical element of a building (That noise you heard? Surprise! The A/C will be out for the month of August).

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Four Seasons Private Residences Fort Lauderdale starting at $900k, Photo Credit Katie Enterline, HOM Colorado LLC

Breaking ground November of 2017 with expected completion by the end of 2019, Four Seasons Private Residences Fort Lauderdale will bring elevated luxury and legendary Four Seasons service to Fort Lauderdale Beach like you’ve never seen before.

Katie Enterline of HOM Colorado LLC, a buyer’s agent in Florida who specializes in oceanfront development, gave us the scoop. “While I do residential resales in Denver, my specialty is in Florida, finding incredible projects that fit my clients’ individual needs from Palm Beach to Miami,” says Enterline.

Still searching for the perfect Florida second home? See this stunning project on SecondShelters.com now,

Limited Edition Top 1

In response to a question at last night’s meeting for the Hood and Dickason high-rise (Turtle Creek Haus), Masterplan representative Karl Crawley lobbed out that The Limited Edition at 2505 Turtle Creek was being redesigned. I was there to catch that ball.

Turns out he’s correct.  Just as Turtle Creek Gardens agrees to a $43 million sale to JLL, its neighbor is having a rethink.  I’ve hinted for months that Dallas is over-saturated with luxury high-rises. What’s built is half empty. Bleu Ciel has started building out the pool deck on level 7, because 6 levels are now complete of the 33 story building. If it appeared that construction was “down under”, it was: they were working on the private garages within the underground, 5 level parking garage, which are exclusive to Bleu Ciel and the Azure.

Note: previously we reported that construction had stopped on the project, which was incorrect. It was not, however, visible.

Briggs Freeman Sotheby’s quietly stopped marketing the Limited Edition in February. It’s been reported that while owners Great Gulf are still very committed to Dallas, they’re reevaluating their concept.

This review obviously has everything to do with pricing.  In my opinion, this ultimately translates into smaller units with less swanky interiors that may, in the long run, be better for the area and the Dallas marketplace. Expect a relaunch in the autumn, perhaps in conjunction with more details on the rental building planned across the street that’s yet to be enrobed in even a construction fence.

I wonder if Limited Edition’s falter gave Bleu Ciel sales a boost or if the Stoneleigh and Museum Tower benefitted? Hmmm…

As always, stay tuned.

Winner Slug v1

Remember:  Do you have an HOA story to tell?  A little high-rise history? Realtors, want to feature a listing in need of renovation or one that’s complete with flying colors?  How about hosting a Candy’s Dirt Staff Meeting?  Shoot Jon an email.  Marriage proposals accepted (they’re legal)!  sharewithjon@candysdirt.com

Al_Coker_Windrose_Hero_Perspective_Final

Windrose Tower at Legacy West is currently open for pre-sales, but the sales center is slated to open just next month.

No one could be more excited about the new Windrose Tower at Legacy West than us here at CandysDirt.com.

Pre-sales have already launched for the luxurious 24-story high-rise, and the all-new sales center for the ground-breaking building — the only luxury condo development built north of LBJ since the Bonaventure — slated to open next month. The building will offer 85 to 95 condos ranging from 1,300 to 11,000 square feet with sleek, unparalleled finish-out.

The pre-sale campaign has been expertly spearheaded by Al Coker and Fernando Gonzalez of Al Coker & Associates. The marketing and brokerage firm is thrilled to show off vignettes of the property, so that prospective buyers can really picture themselves in the spaces. And the center is conveniently located, too, just across from the future site of Windrose Tower at Headquarters and the Tollway, 7800 N. Dallas Parkway, Suite 156.

The estimated completion date for the residences will be in the fourth quarter of 2018, but if you want to see the units before they’re built, make sure you’re the first person in the door of the sales center. Stay tuned right here to CandysDirt.com for more on Windrose Tower and the incredible, game-changing Legacy West development.

 

The Abandoned Vida

The Abandoned Vida

In December, I spent a month writing about Hawaii real estate. Several of the articles showcased new and planned high-rises in the Kaka’ako area of Honolulu that were almost exclusively targeting foreign investment and wealthy local buyers wanting to trade their nest for a high-rise perch. You may also recall that many of these buildings were selling out in days.

The big Kahuna in the area is Howard Hughes’ 10-plus-year development called Ward Village covering 60 acres. They are not alone. One high-rise that hadn’t broken ground is called Vida … well, “was” would be the more accurate term as of last Friday. Developers cancelled the project after “only” selling approximately 40 percent of the 262 units (priced from $1 million) despite being on sale for 18 months. In Hawaii real estate if you’re scrabbling for sales after 18 months, something’s wrong.

In Dallas, a 40 percent pre-sale before the first shovel of dirt was moved would be occasion to rejoice, but markets are different.

Vida's High-End Finishes

Vida’s High-End Finishes

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GetMediaRemember back when Miami Heat’s Chris Bosh bought a 4,257 square foot unit at the Residences at the Ritz Carlton I? Not only was it owned by Dallas Symphony Orchestra Maestro Jaap Van Zweden AND violinist Michael Guttman, it was so unlike the ultra modern pad he and his wife, Adrienne Williams, had in Miami — an ultramodern compound in South Beach and then a Pacific Palisades party palace.

Chris and Adrienne Bosh

The 29 year olds (who might be touching all of 30 now, actually) have strong Dallas roots: Bosh starred at Lincoln High School in Dallas and later attended Georgia Tech before being selected fourth overall in the 2003 NBA Draft by the Toronto Raptors. An eight-time All-Star, Bosh joined the Miami Heat in 2010. He has won back-to-back championships playing alongside LeBron James and Dwyane Wade. (more…)