Let’s take inventory. Park Hill, University Place, Colonial, Tanglewood, Overton, and River Hills. Add into the mix Neiman Marcus jumping the West Freeway for Clearfork and you begin to ask is 76109 the new 76107? I’ve been wanting to write about a house in University Place for a long time but properties here rarely seem to come to market. At the Dirt, we like to stay on top of things, so when a listing in University West, at 2544 Boyd Avenue came on the market, 10 hours ago, we were on it.

Time and money. This property was listed less than two years ago for $675,000. Prescient to have bought then. Renovations, a plumb location in the Tanglewood school district, and a red hot market have nearly doubled the value of this home. And my prognostication?  That this property is probably conservatively priced and that it will move quickly. (more…)

 

On Sandage St. near TCU, two large, zero-lot-line homes have been built next door to one another. To curb the trend of investors tearing down homes to build "stealth dorms," residents are supporting greater restrictions for the number of co-habiting adults in these homes. (Photo: Max Faulkner/Fort Worth Star-Telegram)

On Sandage St. near TCU, two large, zero-lot-line homes have been built next door to one another. To curb the trend of investors tearing down homes to build “stealth dorms,” residents are supporting greater restrictions for the number of co-habiting adults in these homes. (Photo: Max Faulkner/Fort Worth Star-Telegram)

This is an interesting story out of Fort Worth, as some neighborhoods push back against big, zero-lot-line homes full of college kids by proposing an overlay to limit unrelated adult residents to three per single-family home instead of the current five. The overlay, which in its current version would not grandfather existing properties, is facing some stiff opposition from investors. They’re pooling their funds and preparing for a legal battle, according to the story in the Star-Telegram:

“We did it how they said to do it,” Kyle O’Keefe, an investor and resident in the overlay, said of the homes they built. “If they go back and change it, that is a break of trust. That is saying, ‘Hey, you guys come in and invest in our city make it a great city and then we are going to screw the hell out of you in a couple of years.”

This is interesting, because while the restrictions are aimed toward protecting the integrity of the neighborhoods surrounding Texas Christian University, they’re targeting a specific group of homes: Large four- and five-bedroom houses in districts surrounding TCU, that are usually rented to college students and dubbed “stealth dormitories.” Residents are mostly concerned about noise, trash, and traffic.

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