An artist rendering of the Town Center of Frisco Station. Photo courtesy of city of Frisco.

An artist rendering of the Town Center of Frisco Station. Photo courtesy of city of Frisco.

More big news for Frisco as the Rudman Partnership, Hillwood Properties, and VanTrust Real Estate sign on the dotted line for the development partnership of Frisco Station, a $1.7 billion deal.

This 242-acre mixed-use development will be located along the Dallas North Tollway, north of Warren Parkway. It will surround the Star, the headquarters and training facilities for the Dallas Cowboys.

The development package outlines plans for 4 million square feet of office space, 2,400 multifamily residences, restaurants, entertainment venues, medical and wellness facilities, industrial space, and public parks and open spaces. The initial phase of development is expected to start in 2015. (more…)

Perot Penthouse Arch Digest bath Perot Penthouse Arch Digest balcony Perot Penthouse Arch Digest 2 Perot Penthouse Arch DigestI knew something was up. I mean, people of means like to buy real estate the way I like to buy shoes! And you can bet my last dollar that if I ever had a couple billion, I’d have a closet-ful of homes. Remember when I told you (and CultureMap) that Ross Perot Jr. had quietly listed his penthouse at the W? My dear buddy Mama, aka The Real Estalker, alerts me to the recent purchase of an $18 million, 10,000 plus square foot totally amazing historical home called “Mia Patria” that she says Ross Jr. just picked up in the Los Angeles area, specifically Bel Air. I know because she (he) (a) rocks and (b) hollered at me to ask me, don’t he and the missus P have a substantial residence nearby?

Well, duh, yeah, over on Gillon in Highland Park.

This makes so much more sense. You don’t need a condo in downtown Dallas, really when you have a 9,844 square foot home circa 1993 in Highland Park what, five miles away? God yes, buy a place in Bel Air. Or Palm Springs.

According to Mama, Mi Patria is a “walled, gated and expensively maintained and upgraded Spanish hacienda with a history of high profile owners in L.A.’s hoity toity Bel Air community.” The home is about 9,000 square feet, has five bedrooms and eight baths, was built in 1929 but recently carefully restored, with an eye to it’s heritage. I am quite sure Mrs. Perot will be bringing in some designers to fluff things up. She likes Cathy Kincaid but Jan Showers Emily Summers did the penthouse which, I’m told, even has sterling silver door handles and hinges. There is a putting green, a pool, pool bath we think, and I love this: a gym with a Zen garden for meditating. This home is so California! Next thing you know they will have an organic garden and turn vegan!

HRPerotJr_BA_PICS4 HRPerotJr_BA_PICS3 Mr and Mrs. PerotProperty records show Mi Patria was most recently owned by Freddy De Mann, a near mythic film and theater producer, music executive and co-founder of Maverick Records. But… “in his heyday he managed a coupla superstars like Michael Jackson, Madonna, Lionel Richie and Billy Idol during their professional days. Mister De Mann is, well, Da Man, you know? Anyways, property records show Mister and Missus De Mann acquired the Bel Air mini-estate in October 2001 for $6,500,000 from the Nancy Daly, an important philanthropist and prominent social fixture in Los Angeles (and beyond) who passed in 2009.”

And now it joins the Perot family real estate portfolio, along with their winter/summer place in Vail.

Mama goes into so much detail, like she always so wonderfully does in all of her posts, describing every single room and attribute. Me, I’m too hyper — gotta go shopping. But do read her every word as she really educated the entire world on the rich and powerful of Dallas:

Property records show the mini-estate was most recently acquired for exactly $18 million through an opaquely named corporate entity that links directly back to the Plano, TX offices of Perot Systems, the very company Perot Senior sold to Dell but where Perot Junior still holds the title of Chairman of the Board. It might be ignorant to say it out loud but we don’t even really know what a Chairman of the Board does. But that’s really not the point, is it? Anyhoo, altogether three well connected canaries have chirped to Your Mama that Mister Perot, Jr. and his wife, Sarah, are the new keepers of the elegant Mi Patria estate. Make of that “evidence” what you will. Okay?

 

 

Perot Penthouse Arch DigestAs I mentioned today in my CultureMap column, we have a new hot celebrity condo in Victory: the one that belongs to the actual millionaire Victory developer himself, Ross Perot, Jr.

Back in February, Ross Perot Jr. quietly popped this 11,807 square foot W penthouse, the entire 30th floor, on the market for a cool $10, 950,000. Built in 2004, it has five bedrooms, seven full baths and three half baths.Perot Penthouse Arch Digest 2 Perot Penthouse Arch Digest 4 Perot Penthouse Arch Digest bath Perot Penthouse Arch Digest balcony

There are two giant living areas, two dining areas and balconies on all sides. HOA dues are $8,259 a month — yes, they are mandatory and well worth it. The Perots enlisted Dallas-based designer Emily Summers to design a sleek, modern décor inspired by the sky and to showcase the couple’s breathtaking collection of British contemporary art.

Summers noted in this not-to-be-missed Architectural Digest 2008 spread on the Perot pad that the art collection is loaded with blues, a love of Perot, say friends, because of his passion for aviation.

The condo takes up the entire 30th floor, and with incredible light flowing into every molecule, the penthouse is one of the brightest stars of Dallas sky-high living.

Of course, it is also one of the most expensive condos in town: $927 per square foot. Tim Headington sold 2525 North Pearl, for just under $8.6 million, or about $1038 per square foot. Kinda makes the Perot penthouse seem like a deal, eh?

MT openingMuseum Tower is complete. No more hard hats, workboots, no sawdust. And on January 10, the stunning high rise opened it’s doors to an elegant, tasteful celebration that was more an open house than a big splash opening. The developers did not land via helicopter on a roof-top pad as Ross Perot, Jr. did when the W Residences opened. There were musical performances by the Dallas String Quartet, Zach Hess and Charlie Kim on the piano, Carlos Guedes on the 38th floor. Delicious catering was crafted by Lombardi Family Concepts, wine and champagne flowed everywhere. I felt as if I were in New York City next to Lincoln Center. It was a New Year Celebration for Museum Tower, a soft launch for a building that has been struggling with an unintended consequence of it’s quest to be the most energy efficient residential high rise in the southwest: the glare that is bouncing off those curved windows and frying the Nasher. Like a performance, event cards were passed out at the door:

Museum Tower is owned by the Dallas Police and Fire Pension System which represents more than 9,200 Police Officers, Firefighters, retirees and their families.

On Thursday, the Dallas Police and Fire Pension System board discussed an offer to sell the tower along with its troublesome glare to Dallas developer Jack Matthews, who has apparently offered to buy majority ownership of the tower from the Police and Fire Pension System. Matthews is an old hand at teaming up with the city on projects, from his Southside on Lamar to the Dallas Convention Center’s Omni Hotel.

I asked several Museum Tower officials if they thought the Matthews deal would fly.

“I think the Mayor wants it to fly,”  is basically what I heard. It appears Mayor Rawlings may have been the one to bring Matthews into the discussion.

Bernadette and Candy

Bernadette Schaeffler & Moi!

But Thursday night, it was all about celebrating Museum Tower. Robbie Briggs and his lovely wife Nancy were there with most of the company: Briggs Freeman was christened the local and national real estate partner with Museum Tower. We wandered in the three designer units by Emily Summers, Anne Schooler and Marco French. The mood up on the 38th floor was one of admiration and awe as people took their drinks to the balconies and toasted the beauty of the city below.

I chatted up one guest in the bedroom of the Schooler designed unit, and found he was indeed thinking about buying.

“These are beautiful, stunning, best location ever” he told me. “They really cannot compare to anything else.”Museum Tower lights

And then I had to ask: does the Nasher glare issue scare you at all away from buying one?

This is what he said (and asked me not to use his name): “Let me say I would have my attorney, or an attorney, pour over the contract carefully and make sure I as a buyer will have no liability from any future litigation. There is that concern, yes. But I think this is the best time to get a good deal, honestly, and it’s a short window of time before they resolve it. And they WILL resolve it.”

Coming up: Scoop from the 19th floor.Museum Tower pool

 

 

MT openingMuseum Tower is complete. No more hard hats, workboots, no sawdust. And on January 10, the stunning high rise opened it’s doors to an elegant, tasteful celebration that was more an open house than a big splash opening. The developers did not land via helicopter on a roof-top pad as Ross Perot, Jr. did when the W Residences opened. There were musical performances by the Dallas String Quartet, Zach Hess and Charlie Kim on the piano, Carlos Guedes on the 38th floor. Delicious catering was crafted by Lombardi Family Concepts, wine and champagne flowed everywhere. I felt as if I were in New York City next to Lincoln Center. It was a New Year Celebration for Museum Tower, a soft launch for a building that has been struggling with an unintended consequence of it’s quest to be the most energy efficient residential high rise in the southwest: the glare that is bouncing off those curved windows and frying the Nasher. Like a performance, event cards were passed out at the door:

Museum Tower is owned by the Dallas Police and Fire Pension System which represents more than 9,200 Police Officers, Firefighters, retirees and their families.

On Thursday, the Dallas Police and Fire Pension System board discussed an offer to sell the tower along with its troublesome glare to Dallas developer Jack Matthews, who has apparently offered to buy majority ownership of the tower from the Police and Fire Pension System. Matthews is an old hand at teaming up with the city on projects, from his Southside on Lamar to the Dallas Convention Center’s Omni Hotel.

I asked several Museum Tower officials if they thought the Matthews deal would fly.

“I think the Mayor wants it to fly,”  is basically what I heard. It appears Mayor Rawlings may have been the one to bring Matthews into the discussion.

Bernadette and Candy

Bernadette Schaeffler & Moi!

But Thursday night, it was all about celebrating Museum Tower. Robbie Briggs and his lovely wife Nancy were there with most of the company: Briggs Freeman was christened the local and national real estate partner with Museum Tower. We wandered in the three designer units by Emily Summers, Anne Schooler and Marco French. The mood up on the 38th floor was one of admiration and awe as people took their drinks to the balconies and toasted the beauty of the city below.

I chatted up one guest in the bedroom of the Schooler designed unit, and found he was indeed thinking about buying.

“These are beautiful, stunning, best location ever” he told me. “They really cannot compare to anything else.”Museum Tower lights

And then I had to ask: does the Nasher glare issue scare you at all away from buying one?

This is what he said (and asked me not to use his name): “Let me say I would have my attorney, or an attorney, pour over the contract carefully and make sure I as a buyer will have no liability from any future litigation. There is that concern, yes. But I think this is the best time to get a good deal, honestly, and it’s a short window of time before they resolve it. And they WILL resolve it.”

Coming up: Scoop from the 19th floor.Museum Tower pool

 

 

20120624-144336.jpg
Right across from The Four Seasons Residence Club in beautiful Vail, Colorado, are the homes of Ross Perot, Jr. And Sr., right next to each other! (Ross Jr.’s is to the right of this picture, Ross Perot Sr. to the left.) Just back from a great weekend jaunt to Vail after attending NAREE in Denver. Lots to tell you. We may have to worry about hail and tornadoes in Dallas, but some poor Colorado residents are dealing with at least eight  scary forest fires that have burned thousands of acres of forest lands and are now threatening (and destroying) some vacation homes and tourist spots. Some major state highways were closed in southern Colorado. Passengers told me of seeing smoke from about a half-dozen fires across the state, some threatening places like Estes Park, home of the Stanley Hotel, Colorado Springs, Fort Collins and even Boulder. And we saw the firefighters stopping in Georgetown, Colo. With the bone-dry, Texas-type weather conditions — Denver  is enjoying 100 degree plus temps — the whole state is under a fire ban. Some people were telling me the fires could have started because some residents are trying to rid the state of the annoying bark beetle that is killing off the tall lodgepole pine pine trees and markedly affecting the appearance of the usually lush, green mountainsides. The pest is thinning out the pretty pines with dying trees leaving piles of dead wood poles, the wood some say completely useless. Others, like our fly fishing guide, told me you can use the wood for furniture after it dries out and the beetles depart. Just don’t build houses with it! Local journalists told me the beetle is caused by global warming, as the critters thrive and reproduce in warmer climates. Do the beetles fuel the fires? Good question. The director of bark beetle operations in Medicine Bow-Routt National Forest says people are alarmed by the timber loss: 

“The beetles aren’t killing every tree,” Currey says, “but they are killing a majority of mature lodgepole pine, and we’ve lost half our limber pine, too.” More than 116 million acres in the North American Rocky Mountains have been affected. “People are beginning to understand that this thing is too big to stop.”

photo by Darrell Spangler

Vail was just fine, evidence of the bark beetle here as well, but Vail fortunately has a huge variety of trees covering it’s 14,000 foot-tall peaks, including those gorgeous Aspens. And Vail is undergoing a billion dollar plus enhancement, one of the most major nip/tucks I’ve seen. No wonder Texans and Dallasites like the Perots love to vacation here come summer or winter. Check SecondShelters.com soon for a look at some of Vail’s most glorious second homes… soon as I unpack!

The Ritz Carlton Residence Sarasota

The Ritz Carlton Residence Sarasota

I’m doing something rather unconventional here. I am cutting and pasting in an entire story as I found it on the web. Read, please:

Texas Multimillionaire logs rare loss on Ritz Tower sale

Donald J. Carter recently sold a 3,700-square-foot condominium in the Ritz-Carlton Tower Residences for $1.25 million, or $64,000 less than he paid in June 2004.

But don’t worry about Carter.

The multimillionaire real estate investor and former majority owner of the Dallas Mavericks NBA basketball franchise has made out pretty well on his investments at the Ritz.

Carter, who made a fortune reselling commercial properties purchased after the savings and loan crisis, spent $49.5 million to buy 24 units in the Tower Residences during the 12 months after the building came out of the ground in 2003. His median purchase price was $1.96 million.

Since then, Carter has sold 21 of the units for just over $59 million and a median price of $2.5 million.
He still owns the 5,275-square-foot penthouse unit on the 18th floor that he bought $3.257 million.

Carter, well known for standing on the Mavericks’ sidelines wearing a cowboy hat, founded the expansion team along with Norm Sonju in 1980.

He put up the $12 million expansion entry fee, an investment that earned him about $125 million when he sold the team in 1996 to an investment group led by H. Ross Perot, Jr. Carter is now a minority owner.

After the Mavericks won their NBA championship earlier this month, it was Carter — not Mark Cuban, perhaps now the most prominent investor in the team — who accepted the trophy from Commissioner David Stern.

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OK, tell me, do you read this and think we are talking the Ritz Carlton DALLAS?  Or rather, the Residences at the Ritz Carlron Dallas? I sure did, and thought I was slipping. I checked DCAD and saw that Donald Carter owns ZERO condos at the Residences at the Ritz Carlton Dallas.

This story makes it seem like the Ritz is putting condos on the Filene’s basement chopping block fire sale, which I know is not the case because I have personal knowledge of two sales. So I emailed Kyle Crews, who tells me Don Carter owns nada at the Dallas Ritz. Kyle contacts the writer who wrote the story an he says, oh we were talking about the Ritz Carlton Residences Sarasota, FLA, not Dallas. Now it may say that in a paper headline somewhere, but that little factoid did not make it onto the web story. So I was confused, and others were confused as well, and The Residences at the Ritz Carlton Dallas is asking the reporter for a retraction.

But then, since Carter’s made about half a million on the 21 units he has sold from his 24 unit inventory, maybe we should just pretend yes, this IS Dallas!