Iris Hollow

The living room of the Iris Hollow model home, built by Sharif & Munir Uncustomary Custom Homes. All photos: Danny Piassick 

Luxury homebuilder Mickey Munir is no stranger to the Preston Hollow area—he’s been building remarkable houses there and all over Dallas for 35 years.

As founder and CEO of Sharif & Munir Uncustomary Custom Homes, Munir is spearheading another development in the area, Iris Hollow. The eight houses in Iris Hollow, which start at $2.35 million and range in size from 5,300 to 6,200 square feet, are built on land with a Texas-sized story and are perfectly suited to one of Munir’s fastest-growing buyers: the empty-nester.

The 3.5-acre estate at Hillcrest and Forest lanes belonged to Charles Elmer Doolin (and later his widow), a legendary Texas businessman and the inventor of the Frito corn chip and Cheeto.

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The spec house at 6115 Desco Dr. will look similar to this. Photo courtesy Shoot2Sell.

The spec house at 6115 Desco Dr. will look similar to this, also built by LRO Residential Development.

Spec homes are a sign of strong builder and bank confidence in a market, as they are created without any specific buyer in mind, just the belief that one will be interested once it is completed. The higher the price tag, the higher the stakes.

In our inventory-parched market, homebuilder Les Owens, President of LRO Residential Development, has that confidence in the Dallas market, even at multi-million-dollar levels. He’s starting two spec houses this month, one in Preston Hollow for $3.15 million, and another in Devonshire for $2.2 million.

Both houses are available for customization, but Owens is breaking ground now and says he will complete them in late summer/early fall this year.

As we reported earlier this month, luxury home sales in Dallas-Fort Worth skyrocketed in 2014—those with prices of $1 million and up grew 15 percent year-over-year, the second highest sales volume in Texas (bested only by Houston).

Luxury home sales in DFW represented 1.2 percent of the market, and top-performing luxury brands are seeing more multi million-dollar sales in areas that have strong resale value and high existing demand.

“Established neighborhoods and homes of significance in coveted areas such as Highland Park, Preston Hollow, Greenway Parks, and The Volk Estates are desperately pursued, and the quality of the design continues to be a driving factor,” said Caroline Summers, a Briggs Freeman Sotheby’s agent. Jump to read about the houses and see photos!

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Hardware and appliances with clean lines are used throughout S & R homes. (Photo credit: Saad Chehabi)

Hardware and appliances with clean lines are used throughout S & R homes. (Photo credit: Saad Chehabi)

Saad Chehabi has been a businessman for more than three decades. He started his own mosaic tile company and was the supplier for many hotels in Las Vegas in addition to many celebrities’ homes. He parlayed his design knowledge and business acumen to found his own residential construction company, S & R Development, in Dallas in 2002.

“We started out building custom homes in Highland Park and Preston Hollow and have expanded to other areas,” he says. S & R prides itself in giving customers high-quality homes showcasing the company’s attention to detail and style.

“I’m very hands on. I don’t leave a project,” says the SMU graduate and native of Syria. “I run each one personally and cannot spend time away from what I’m working on so I limit the number of projects I take and try to keep them close together.” Currently he has four projects going in the Preston Hollow area, three of which are over 8,000 square feet. His company recently completed a large home in Plano and the homes in PH should be completed by the end of this year and the beginning of next.

“I’m seeing customers wanting less traditional homes these days,” says Chehabi. “New home construction is more about cleaner lines overall.”

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