church

Finegold Alexander Architects turned this 18th-century church into a 30-unit condo development that marries the modern and the historic (photo courtesy Finegold Alexander Architects).

It all started in a Facebook group: Someone asked about the status of the now-dormant Oak Cliff United Methodist Church in a group devoted to Dallas history.

“Anybody know what’s going on with this place?” the group member asked. “I’ve been driving by it daily on the way to my school and just watching it deteriorate daily. So sad. They can’t tear it down, thankfully.”

Several people commented on deterioration, including one person who shared photos of broken windows and an interior that is exposed to the elements. Another noted that it appeared as if the building was in the process of being boarded up. (more…)

McKinney

Among many amenities, Parkside at Craig Ranch offers food truck parking and a beer garden for its residents (Photos courtesy Parkside at Craig Ranch).

From staff reports

It’s not often that a McKinney multifamily property finds itself in a “best of” list that includes properties in places like Honolulu, New York, Washington D.C., and Seattle.

But that was exactly what happened last week when the Parkside at Craig Ranch in McKinney was one of 10 award-winning projects Multifamily Executive magazine recognized for their unique amenities. The property is under the Lincoln Property Company umbrella.

Of the 10 properties recognized, some included unique pool projects, gallery spaces, maker spaces complete with tools and work tables, coffee and wine bars, and even a half-pipe skate park. (more…)

Southlake-based Napali Capital acquired the Westwood apartments in Dallas last month, increasing its Texas portfolio to three properties (PRNewsfoto/Napali Capital, LLC).

In an area where more affordable housing is dear, it’s becoming more and more rare to get a press release announcing that someone is entering that market in Dallas. But Napali Capital, a Southlake-based investment firm, has done just that — twice.

Last month, the private investment firm announced the acquisition of the Westwood Apartments, a 187-unit property consisting of one, two, and three-bedroom apartments. It’s adjacent to Briar Gate Park, and is near grocery stores, schools, and shopping.

It’s also not a luxury property. Neither is the Adira, the 164-unit property in Dallas Napali Capital acquired last November. Nor is the Monterrey, a property in Fort Worth the firm acquired in March 2017.

“I would say we’re more of a B class operator, and some C,” said Napali Capital co-founder and managing partner Dr. Thomas Black. “We’re not strictly affordable housing — I would say we’re more middle of the road.” (more…)

rents

(Photo courtesy Wikimedia Commons)

There may be a lot of apartments being built in Texas, but that’s not necessarily translating to more affordable rents, one economist said at a recent conference on affordable housing held at the Federal Reserve Bank of Dallas.

Greg Willett, chief economist at RealPage, told the group assembled that the same affordable housing issues that have begun to block families from purchasing homes have begun to crop up in the rental sector as well.

“We are starting to see the same affordability challenges in rental housing,” he said, adding that this issue is occurring despite a boom in apartment completions across the country. (more…)