Even as the price of new-builds in Dallas remains largely stagnant, a report last month suggests that housing affordability will remain a primary concern for the foreseeable future. According to Metrostudy, the area’s low housing inventory streak continues unabated, and the median home price inches ever upward, reaching $320,600 last quarter. Resale prices of homes show no signs of slowing and new home starts in the $200,000 or under price range have become relics of the past.

“New homebuyers are stretched to the limit of what they can afford,” said Paige Shipp, Director of Metrostudy’s Dallas-Ft Worth market. Tell us about it.

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Greenwood Flats
Robert Elliott is at it again, ahead of the curve and setting the pace. This time the multi-talented co-founder of Stillwater Capital, founder of Robert Elliott Custom Homes, and The Associates Real Estate Brokerage has created Greenwood Flats at 5714 McCommas Boulevard. Elliott’s reputation as a builder is unparalleled. He’s constructed over 100 private residences in Highland Park alone, as well as homes in Bluffview and East Dallas. His reputation of putting together a solid development and standing behind what he builds means if you purchase one of his homes, you have a sound investment. (more…)

If you forgot Dallas’ torrential weekend rains, Monday’s return certainly brought those memories … flooding back.

What’s up with that?  It’s not like rain is something new to Dallas.  Sure, depending on whether your beliefs are fact- or fiction-based, climate change may be making rains heavier, but we’ve always had deluge-type rain (when we’re not in drought).

So why does this city flood like it’s never seen a drop of water? Why do we have to repeat, “turn around, don’t drown” and mean it when the water is coming up to the running board of the SUV? There are many reasons, some just mother nature, some brought on by neglect and — shocker — our city’s indifference to infrastructure.

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4823 Linnett Lane

Corrugated metal, Cyprus, HardiePlank and a beautiful blue door have introduced a new design aesthetic to the Bird Streets.

The Good brothers are at it again. Our Dallas version of HGTV’s  The Property Brothers has just listed their latest new contemporary construction at 4823 Linnett Lane in the Bird streets, for $699.900.

It’s the best new nest for anyone with an urban sensibility that longs to be in close proximity to the Southwestern Medical District, Dallas Design District, Love Field or downtown. It’s also a stone’s throw from one of the best elementary schools in Dallas, the K.B. Polk Center for  Academically Talented and Gifted

Location, location, location.

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Crescent-placeholder rendering

Just as our trolley track construction wraps up and the Bishop Arts stop comes online, expect the building construction to begin.

Developer Alamo Manhattan has made headlines with their infamous Bishop Arts project, hopefully designed a bit better now than at first. Their Phase 1 plans would create a five-story full city block with residential above ground-floor retail right at the newly minted trolley stop along Zang, at two corners of the Zang-Davis intersection.

Details are now coming together on the Crescent Communities development at the third northeast corner of Zang-Davis, scheduled for construction to begin December 2016 with a 22-month buildout.

Currently a Dallas County Schools property, the Crescent project would span two blocks east across Beckley Ave to Crawford St, and north just past Neely St. It could be another massive block of a project, but it appears the folks at Crescent understand “good” walkable design and what makes a place work for people. One example, since they own both sides of Beckley, is their focus on making the street feel like a real Avenue — emphasizing the importance of the way the buildings relate to the pedestrian realm along the street.

Site map

Phase 1 in red and just north of Neely. Phase 2 between Beckley Ave and Crawford St.

All that’s been made public is the site plan below, but an off-the-record conversation with the Crescent’s regional director and a handful of North Oak Cliff neighbors revealed a masterplan with an attention to detail. Oh, and the President & CEO, Todd Mansfield was Executive VP of Disney real estate worldwide. If Disney can be lauded for doing something right, it’s creating a pedestrian environment that, though fake, scores high on the principals of great walkable commercial environments. He “gets it,” and the company has a decent track record. And they quote Jane Jacobs, the mother of great urbanism.

 

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The site plan here is a bit different from the placeholder project image on their website — the project’s clearly still in development.

But it’s about ready for Prime Time, and I think we’re going to like what we see. They’ve enlisted design firm Lake-Flato, and you can see a few architectural elements in the site plan — a “flatiron” building corner comes to Zang and Davis where a  3,800-square-foot “gateway” plaza leads you from historic Bishop Arts and the trolley stop into a larger plaza between the fivee-story building along Davis and the five- and six-story building behind it.

First life. Then places. Then buildings.  – Jane Jacobs

At some point a developer’s vision is in the hands of its tenants — the goal is to flank the larger plaza with restaurants and great patios spilling into the plaza. They’re still on the hunt for the right tenant mix. More details coming soon, but I’ll leave you with: makers space (and other unique retail uses), boutique retail spaces, walk-up brownstone condos (as well as an emphasis on more affordable rental units), boutique hotel (inspired by the lobby of the renowned historic Ace Hotel in Portland), brewery, and grocer. Fingers crossed! It’s an ambitious vision.

Ace Hotel in Portland. By Kari Sullivan via Wiki Media

The historic Ace Hotel in Portland. By Kari Sullivan via Wiki Media

 

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Ashley and Webster Miller are opening their brand new home from Greico Custom Homes for the White Rock Home Tour April 23-24. (Photo: Greg Wolchansky)

Next weekend’s White Rock Home Tour will take you through some of the most fabulous modern properties throughout East Dallas, but we’re going to admit to having a favorite. We’ve watched Tom Greico and his talented team build this beauty on Easton Road from foundation to framing to finish-out and we have been smitten since Day One.

Could this be our favorite Greico Modern Home?

“The Easton Home was a fun project to be involved in because of the freedom the owners’ property provided,” Greico told us. ” The basic design philosophy was to create a home with a simple footprint that was easy and affordable to build, while taking full advantage of the heavily wooded  property.

That’s what’s truly amazing about this modern home that sits on a rather busy street — it’s set back from the road plenty, but thanks to the mature trees that remain on the lot, it doesn’t feel loud or obnoxious. It’s actually pretty serene.

“The design we settled on allows the  public living areas of the home to be as open, accessible and transparent to the property as possible,” Greico added. “The overlapping design of the upper level provided for a large protected exterior space for outdoor entertaining at the same time, and allowed us to achieve the owners’ desire to have their sleeping quarters capture the essence of camping as if in a tree house.”

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1102 Easton Road (Photos: Metroplex HD)

That’s what it is! It’s like a tree house, but with a master bath straight out of architectural digest. But we had to ask Greico the hard question: What’s your favorite space in the house?

“It’s hard to isolate my favorite space in the home, but I’d say it has to to be the great room with its glass walls, wood decks, opening on to green grass and large trees on either side,” he said. “It’s a very cool space.”

We agree! Of course, we couldn’t stop at picking the builder’s brain. We also wanted to ask homeowners Ashley and Webster Miller about this gorgeous property, too! We have an exclusive Q&A with them after the jump.

And if you haven’t picked up your tickets for the 11th annual White Rock Home Tour yet, you better hurry. Besides this brand new custom build by Greico Modern Homes, you can tour a Frank Welch design on Lawther, a midcentury gem from Thomas Scott Dean, and even a Ju-Nel on April 23 and 24. All ticket proceeds benefit Victor H. Hexter Elementary. Buy your tickets on the White Rock Home Tour website today.

Feeling lucky? Stay tuned to CandysDirt.com for your chance to win a pair of tickets to the White Rock Home Tour!

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Photo: Karahan Cos.

JPMorgan Chase signed a letter of intent to build at Plano’s Legacy West development, moving 6,000 employees there over the next three years. Photo: Karahan Cos.

It’s been a rumored deal for months now, but now, Plano has another reason to celebrate. JPMorgan Chase has selected an anchor corner in Legacy West to build a $300-million, 1-million-square-foot high-rise campus to house 6,000 relocated employees from around DFW.

JPMorgan Chase signed a letter of intent Thursday to build at Legacy West, Plano’s 240-acre development. Construction is slated to start later this year, Chase spokesman Greg Hassell told Steve Brown at the Dallas Morning News.

The empty lot, located near the Dallas North Tollway and State Highway 121, is next to the new Liberty Mutual Insurance development, a $325-million office campus under construction now.

The letter of intent ends months of searching by Chase to find a location to consolidate some North Texas workers from Farmers Branch, downtown Dallas, Lewisville, Coppell, and other locations into a corporate office complex.

“We expect the first employees to start moving in to the new campus in the second half of 2017—total move-in will last through 2018 and 2019,” Hassell told Brown. “Over time, we expect 6,000 employees to work at the new campus — roughly half of our employee population in the Metroplex. We haven’t figured out where everybody comes from yet. We have people in a number of buildings across the Metroplex.”

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Real Estate Story

As the Dallas-Fort Worth area grows and suburbs develop, many people wonder about the advantages of buying a new versus preowned house. We’ve put together a handy infographic for you, outlining the advantages of each. What’s your opinion?

New versus preowned home