Northwest Dallas developments

[antoinekhuu]

I wonder why NW Dallas is not as developed and growing as other part of North Dallas.
The area have excellent location: between 2 airports,interstate highway 35 that lead to Southwestern medical center,Dallas Market Center and Victory; proximity to high income neightborhoods like Preston Hollow, Bluffview,etc.
Is that because of the large concentration of apartments and Love field flight path?
If anyone have any news about development in NW Dallas, please post them here .

[texman]

I bet we'll see alot change when DART Rail comes to the area.

[gc]

My guess...kis because it is full of warehouses. If you in or out of Love Field from the North side.....you can see warehouses as far as the eyes can see.

[CTroyMathis]

NW Dallas/Las Colinas/Freeport = DFW Aeropolitan Area

[I45Tex]

I suppose Texas Stadium redo plans count for this, right? There's that proposal on the table for a mixed-use neighborhood including Presidential Library

[antoinekhuu]

I suppose Texas Stadium redo plans count for this, right? There's that proposal on the table for a mixed-use neighborhood including Presidential Library
Yeah.Though I would countl it for Irving, not under Dallas city limit.

[antoinekhuu]

http://www.dallasnews.com/s/dws/bus/stories/092505dnbusasianforum.215e454.html
Success is mutual at Asian chamber


Harry Hines district the most visible result of entrepreneurs' work


10:04 PM CDT on Saturday, September 24, 2005

By DIANNE SOLÍS / The Dallas Morning News

Amir Rupani came to America from Pakistan more than two decades ago and promptly went to work in a Texas convenience store.

He quickly decided it would be better to own the convenience store. Then he decided it would be best to own the distribution line to convenience stores.

And then he decided that for other nascent entrepreneurs, especially immigrants, he'd help start a Dallas bank to capitalize on their best ideas.

Today, Mr. Rupani's tale of capitalism and its sequels play out along a commercial strip of Harry Hines Boulevard.

This year, the city christened it the Asian Trade District.

About $1.04 billion in revenue is generated annually in the three-mile area among a group of entrepreneurs who are largely foreign-born.

In the Dallas area, many come from China and India.

And that's opening doors to the white-hot Asian economies some call Chindia.

The revival of the Harry Hines area is one of the big success stories at the Greater Dallas Asian American Chamber of Commerce.

The chamber has its offices in that area, and it participates in loan programs in which some of the capital goes specifically to businesses in the bustling zone once known as Korea Town.

Mr. Rupani, the chamber's chairman; Linda Kao, the incoming chairwoman and a Southern Methodist University business school administrator; and Les Tanaka, the chamber's executive director, recently talked business with Dallas Morning News reporters and editors. Here are excerpts:

Asian-Americans are very entrepreneurial. There is a lot of risk-taking in that. Is there a support system in place?

Mr. Rupani: Yes, there is a support system, and we have micro-financing in the community.

Mr. Tanaka: One illustration is that bankers always come to the leadership of the chamber, and the question they ask is, "How do these little Asian businesses start, because they don't seem to have bank accounts, they don't seem to have CDs or mutual funds. But they start a business and seem to have capital, and the business starts to grow."

Part of the answer is that even today, Asians don't put all their money in banks. There is a basic mistrust, especially among [the] first generation. So there is a lot of cash sitting around, and it is not unusual today to find $10,000 to $15,000. The source of capital is not the bank. The source of capital is family and friends. As the business gets successful, everyone gets paid back. It spawns other businesses. ... It is like a chain reaction.

Ms. Kao: There is a lot of honor that goes into that. You help each other.

How difficult is it for the three of you to run the chamber when you have so many ethnicities under one big tent?

Mr. Rupani: We sit down as one community. There are 18 different countries, we are not a large community where we have a problem getting together. We can sit down and solve all our problems.

Ms. Kao: We all celebrate diversity. In a lot of Asian communities, we have so many ethnic groups within our own community. So it is not so difficult to communicate intelligently.

[b]Tell us about the Asian Trade District and how you placed a focus on it.

Mr. Rupani: Look back in 1985 – what was there? Nothing. When I opened my first store in 1987, A-to-Z Wholesalers at the corner of Harry Hines and Southwell, that area was a dying place. All around was a red light area.

At that time, property was going for $2 a square foot. Now you can't find it for less than $17, $18 or $19 a square foot.

By the end of December, we will add 700,000 square feet of new space for the wholesale and retail area.

Can you tell us about government help to develop this area as a trade district and the legislative wizardry to clean things up with the massage parlors?

Mr. Tanaka: We were noticing late last year just the proliferation. There were five in a row in just one strip area, and it really got to be obnoxious.

Basically ... [Texas state Rep. Rafael Anchia's] idea was that a state law was sufficient to manage the massage parlors and bath houses. But the state law only allowed the state inspectors to enforce the law.

What Rafael did was amend the state statute to allow the Dallas Police Department and city attorney to enforce the law. It went into effect Sept.1. The state had four or five inspectors for the whole state.

We've recently written quite a bit about the Wright amendment and its aviation restrictions in Dallas-Fort Worth. What is it about the Wright amendment that you found right? You supported it, essentially.

Mr. Tanaka: As a chamber of commerce, we have to be responsive to our members. And in that vein, American Airlines and D/FW Airport have been financially supportive and have been very supportive with gifts in-kind to the chamber for over 10 years. As much as we have tried to start a relationship with Southwest, they just have a different philosophy. The only chambers they support are the Dallas and North Dallas chambers. And trying to get passes on Southwest is very, very difficult.

Our relationship with American is a lot more flexible. And D/FW is very, very attuned to not only the other ethnic chambers, but to our chamber, in making available their purchasing department to give our members opportunities to do business with their airport.

Also, you know, D/FW is one of the major international airports. And D/FW has always wanted to expand service to Asia – and the more service to Asia, the more trade that will come into this area.

You probably have a large concentration of entrepreneurs who are just starting up and need lower fares. What was the discussion like among your membership when you were debating this issue?

Mr. Tanaka: Oh, I got e-mails and calls from members that questioned the position of the chamber.

On the other hand, the argument can be made that D/FW just completed Terminal D, and all the other infrastructure improvements they did are worth $3 billion. In total, you have over $5 billion in bonds sitting out there, and if traffic starts to deteriorate and if American and other airlines can't afford to pay the current rate, then the burden is going to fall back on Fort Worth and Dallas.

If you were to be able to talk to China's president, Hu Jintao, who just made a visit to the Americas, what kind of issues would you press?

Mr. Rupani: The U.S. is pushing China to devalue the dollar. It is just going to affect everything in this country. [China has a fixed-currency regime and, in July, it allowed a 2.1 percent appreciation of the yuan against the dollar.]

Mr. Tanaka: Amir takes about seven trips to China a year. Amir would like the yuan to stay linked to the U.S. dollar and not move.

E-mail dsolis@dallasnews.com (dsolis@dallasnews.com)



http://www.gdaacc.com/ ("")
Year founded: 1986

Membership: About 1,000

Nationalities represented: 18

Mission: "To develop leaders, promote community awareness, create business opportunities for members and represent Greater Dallas Asian-American communities in the business world."

Reach: It's the largest local Asian business group. Others include the Indus Entrepreneurs, the Korean Trade Association and the Greater Dallas Indo-American Chamber.



ASIAN-AMERICAN FACTS

Percentage of population in Dallas-Fort Worth: nearly 4

Major ethnicities in D-FW: Asian Indian, Vietnamese, Chinese, Filipino, Korean

Median household income in D-FW for 2003: $62,966 (compared with $55,778 for whites)

Number of businesses nationally with paid employees: 319,911 (the most among large minority groups)



SOURCES: Greater Dallas Asian American Chamber of Commerce; U.S. Census Bureau


http://www.asiantradingdistrict.com/

http://www.asiantradingdistrict.com/images/index_text00.gif

[antoinekhuu]

L.A. Exchange Partnership Takes 116 Units for About $3M
By Connie Gore
Last updated: December 14, 2005 09:55am
http://www.globest.com/news/433_433/dallas/141096-1.html
DALLAS-Paying slightly less than $30,000 per unit, a Los Angeles-area partnership has taken control of 116 units in two complexes from a local investor. The class C complexes, positioned within blocks of each other, were 97% leased when they changed hands.
The immediate upside could come from rent hikes as leases roll in the 68-unit Castle Place Apartments at 3627 Almazon Dr. and 488-unit Towne Place Apartments at 3434 Hidalgo Dr., Christopher Deuillet, a Dallas senior associate and associate director of the national multi-housing group for Marcus & Millichap Real Estate Investment Brokerage Co., tells GlobeSt.com. The one- and two-bedroom units average 650 sf, renting as all-bills paid for an average of 75 cents per sf. The submarket rate is 85 cents per sf, he says.

The portfolio buy was on the market four months, picking up 11 offers with the 1031 exchange buyer from California lobbing the highest bid, according to Deuillet, who says the partnership recently used some funds from California single-family housing sales to acquire another small multifamily property, the Acacia Apartments in Dallas.

Deuillet says Castle Place is sub-metered to build in additional future upside. "They locked in a good rate with a utility broker on Acacia and they're trying to do the same with these," he says, explaining increasing utility costs are "becoming more of a discussion topic now" at the bargaining table.

The deal closed at 99.6% of the list price and 9.5% cap rate, according to Deuillet. The buyers, represented by Jim Dutka with Sanctuary Properties of Los Angeles, secured 80% loan-to-value financing, with a 6.6% fixed-rate interest, from LaSalle Bank in Chicago, Deuillet says. The seller bought the complexes, positioned on a combined three acres, in 1999.

[antoinekhuu]

I saw a sign along Northwest highway about a new mixduse deveopment at The Plaza at Bachman Creek.
Anyone got info about this project?

[VectorWega]

I don't know anything about this development, but just wanted to note that it's called "The Plaza on Bachman Creek" in case you are doing a full name search and include the "at".

[dfwcre8tive]

I saw a sign along Northwest highway about a new mixduse deveopment at The Plaza at Bachman Creek.
Anyone got info about this project?

Love Field shopping center to get update
Apartments, more retail space planned for Plaza at Bachman Creek
12:00 AM CDT on Tuesday, April 4, 2006
By STEVE BROWN

Developers plan to transform a 20-year-old shopping center at the north end of Love Field into a mixed-use development with apartments and more retail space. The Plaza at Bachman Creek retail complex, located on Northwest Highway just east of Lemmon Avenue, is being redeveloped by Colorado-based Archstone-Smith.

The shopping center now has a half-dozen one- and two-story buildings located between Northwest Highway and Bachman Creek. "We are going to try and create a European town square feeling," Archstone-Smith's Tom Scaling said Monday. "Together with the hotel and office buildings located next door, it will be a good mixed-use environment.

"It will be a little bit like the West Village or Addison Circle," he said, "but on a smaller scale."

Archstone-Smith, one of the country's largest apartment developers, plans to knock down part of the retail and replace it with a four-story residential building. The developer plans about 181 residential units – a combination of flats, townhomes and lofts with a parking garage. The remaining buildings will be renovated. Venture Commercial Real Estate is marketing the shopping space.

About 30,000 square feet of new retail will be located in the ground floor of the planned residential building, said Venture's Carter Wilson. "We should be moving dirt by this fall," said Mr. Wilson. "We are going to try and evolve the retail in this center to something better." In recent years, the shopping center has had high vacancy rates.

The Plaza at Bachman Creek is one of two developments Archstone-Smith is working on in the Dallas area. On McKinney Avenue north of Blackburn, the developer plans to construct an eight-story apartment complex.

E-mail stevebrown@dallasnews.com

[Bru]

Interesting. I've noticed this complex before and wondered why it's so vacant with the nice trees, creek-side setting and fairly new buildings. Poor management? Either way, glad to see someone breath some life into that area.

[gc]

Agreed. I hope this turns out to be a good thing.

[FoUTASportscaster]

But if the Wright amendment gets repealed, there will be so much noise and pollution, that quality of life will be redused so no one wants to live there. :rolleyes:

[drumguy8800]

It should be kept in mind that northwest Dallas is a massive flood-plain like southeast Dallas. Flood plains are never desirable for residential use, and shopping centers are placed where the residents are. The reason the entire area is industrial is because the land is so relatively worthless (not literally worthless) compared to other land in the area. It is unfortunate that the Trinity is such a narrow-channel river and is completely surrounded by a city that diverts all of its water to it.. if it had a wider channel (not wider floodplain) the land around it would be suitable for higher-value development

[Geaux Tigers]

From someone who didn't grow up in Dallas nor do I live in the city limits now, I've always viewed NW Dallas as a shady part of town. Lets face it, lots of strip clubs and hookers up and down Harry Hinds don't lead to a whole lot of development.

[rantanamo]

Ironically, in the middle of all that is the ritziest and prettiest hood in the metroplex. The transitions are very immediate too. Like the next street over.

[Lakewooder]

From someone who didn't grow up in Dallas nor do I live in the city limits now, I've always viewed NW Dallas as a shady part of town. Lets face it, lots of strip clubs and hookers up and down Harry Hinds don't lead to a whole lot of development.

Maybe you meant, "Hairy Hinds"?

[Geaux Tigers]

Maybe you meant, "Hairy Hinds"?


:suave:

[LH Wildcat]

freudian slip!

[214]

i grew up in northwest dallas(inwood road,lemmon ave.,maple ave.) and all of the apartments on my block have either been torn down or are about to be torn down. Its taken long for developers to notice the area maybe its because of the high crime rate around the maple avenue area there are lots of bars and small night clubs on maple avenue. Its sad tho passing by your old neighboorhood and seeing everything torn down.

[tamtagon]

DBJ: Specialty grocers grow D-FW market share (http://www.bizjournals.com/dallas/stories/2008/01/28/story10.html?b=1201496400^1581941)


Ethnic and specialty grocers are gaining in popularity in North Texas -- a trend that continues with a $15 million retail project catering to Dallas' Asian population.

The 15-acre Shinchon Grand Plaza should open in late 2008 near Interstate 35 and Walnut Hill Lane and will include an Asian food market and complementary restaurants.

The first phase -- 101,000 square feet -- is scheduled for completion by the end of this year, said Hammond Perot, Dallas' assistant director of economic development. From there, it potentially could expand, he said.

The development's owner, Chong Na, declined to comment.

Herb Weitzman, chairman and CEO of The Weitzman Group, said "that particular ethnic clientele is growing in this area, and they continue to open up more and more retail businesses to support the population."

The local grocery market is more stable than it's been in about five years, according to his company's most recent market survey. Weitzman said this is because of the closure of nonperforming stores, by chains including Albertson's and Tom Thumb.

In some instances, those empty stores have found new uses.

"Some have been taken by ethnic stores. Some have gone to a Hispanic concept, and some an Asian concept," Weitzman said....

ldavolio@bizjournals.com | 214-706-7113

[Lakewooder]

If you look at the stations on the new DART line running through this area, you can see there should be many changes in store..