Near East Dallas: New Henderson Ave. Developments

[2Legit2Quit]

Crime rate is real low on the moon, too. But crime isn't the chief reason why I pick my neighborhoods. If crime were the main factor no one would live in NYC or LA.
Or in downtown Detroit. Or in Baltimore. Or... oh, wait. I also don't see people lining up to live in the heart of Compton, nor in many parts of Brooklyn or the Bronx. Beverly Hills and Greenwich Village do not bely the attitudes toward each and every part of both metro areas that you have up there.

You can cite all of the extreme examples that you'd like, but the fact of the matter is that crime rate does matter. It does impact people's decisions. If it didn't, you would be living in historic Oak Cliff right now, which has some beautiful homes, provided you don't mind a little gunfire at night.

[kenc]

Increasing the value of the area increases tax revenues for the city. In turn they can provide more social services which will go to help not the people in the McMansions but those that are poor.

Increased tax revenue could provide more services for the poor, if the city decides to spend the revenues on low cost housing, schools, hospitals, etc. But Dallas rarely does that. Increased tax revenues are more likely to be spent on tax breaks for wealthy developers and designer bridges over the Trinity. Just read the papers.

[Milkman Dan]

Reading the last 2 pages of this thread makes me want to do drugs and kill someone.

[2Legit2Quit]

Reading the last 2 pages of this thread makes me want to do drugs and kill someone.
Go hang out around Henderson Ave. You won't stick out at all.

[igotgirth]

Increased tax revenue could provide more services for the poor, if the city decides to spend the revenues on low cost housing, schools, hospitals, etc. But Dallas rarely does that. Increased tax revenues are more likely to be spent on tax breaks for wealthy developers and designer bridges over the Trinity. Just read the papers.

You're right and all the tax breaks goes to big corporations, would be bridge developers, and other white elephant projects. Furthermore, those big corporations and bridge builders don't create jobs or revenues from payroll taxes. It’s all a huge conspiracy. I mean its all right there in the papers.

[2Legit2Quit]

You're right and all the tax breaks goes to big corporations, would be bridge developers, and other white elephant projects. Furthermore, those big corporations and bridge builders don't create jobs or revenues from payroll taxes. It’s all a huge conspiracy. I mean its all right there in the papers.
It's also not true that when the money comes in, the crime goes out. I mean, the example of NYC is so true. Once the money hit Manhattan, it's not like that impacted what was going on there. There's still all of the violent crime, and those hookers are all still in Times Square. It's not as if such crime is all but gone in the area, and Times Square is now the heart of the tourism industry of NYC, complete with luxury hotels and overflowing cash tills.

Nope. Not at all.

[igotgirth]

It's also not true that when the money comes in, the crime goes out. I mean, the example of NYC is so true. Once the money hit Manhattan, it's not like that impacted what was going on there. There's still all of the violent crime, and those hookers are all still in Times Square. It's not as if such crime is all but gone in the area, and Times Square is now the heart of the tourism industry of NYC, complete with luxury hotels and overflowing cash tills.

Nope. Not at all.

True that. Look at all the money the Bass family put into downtown Ft Worth and the turn around it had.

Dam those greedy corporations and what they give back to the community.

[KBilly]

Reading the last 2 pages of this thread makes me want to do drugs and kill someone.

:cheers:

[EastDallasLonghorn]

I hate to interrupt the heated discussion of the pros/cons/legitimacy of the gentrification that is happening around Henderson in East Dallas, but I want to share this "for sale" listing that I found on LoopNet.com.

http://www.loopnet.com/xNet/MainSite/Listing/Profile/Profile.aspx?LID=14677557&RecentlyViewed=true&ItemIndex=3&PgCxtDir=Down

1 million SF of urban infill land in E Dallas
Primary Type: Land
Multifamily (land)
Lot Size: 1,044,033 SF
Price: $36,500,000
Price/Acre: $1,522,882.88
Date Last Verified: 7/21/2006
Performance Properties LLC
David McQuaid

Property Description:
Largest private assemblage of urban infill land in Dallas, five minutes from downtown Dallas, Uptown/Oak Lawn, Knox-Henderson, White Rock Lake, Lakewood, Baylor Hospital, Deep Ellum, Lower Greenville Avenue. Over 80% of the land has 756 apartments on it in 20 properties that can be operated while developing apartments, townhomes and condominiums. This portfolio is located east of Central Expressway between Henderson and Fitzhugh, and is experienceing a tremendous amount of redevelopment. This is a unique opportunity for a developer to own the LARGEST PRIVATE ASSEMBLAGE OF URBAN INFILL LAND BETWEEN NORTHWEST HIGHWAY AND DOWNTOWN DALLAS. These properties are not all contiguous, but are very close to each other. Seller could put together up to an additional one million square feet of land (most with apartments on it) in this neighborhood if desired. This is a once in a lifetime opportunity to change a neighborhood for the better with quality new development. Portfolio is priced at land value of $35/sf, while land on the west side of Central Expressway is selling for $40-$80/sf.

Location Description:
Located east of Central Expressway (I-75) between Henderson and Fitzhugh Avenues, the Upper East Side is experiencing more new development than in the last 30-40 years as developers are coming into the neighborhood to build new apartments, condominiums and townhomes. This area is seeing more new development as prices for land on the west side of Central Expressway in Oak Lawn and Uptown are going from $40 to $80 per square foot.

[tamtagon]

Price: $36,500,000
Price/Acre: $1,522,882.88

These properties are not all contiguous, but are very close to each other. Seller could put together up to an additional one million square feet of land (most with apartments on it) in this neighborhood if desired.

So that's about 24 (up to 45ish) acres. Smells like a master plan just waiting to happen!

I wonder what the price tag will be to finish the Knox-Henderson subway station in a couple years.

With or without a Knox-Hen DART station by 2010, CitiPlace East will probably be first master plan type (re)development East of Central, Baylor notwithstanding.

[EastDallasLonghorn]

I’m curious how many developers there could possibly be that would have the ability to take down $36 million worth of land and then still have money left over to develop some/most of it?

I’m thinking Premier owns too much land to advertise all of it at once as individual properties for sale because this would flood the market and they would essentially be competing with themselves for buyers. Is this correct, or does anyone else on this board have a better sense of why these properties are all being sold as a massive package?

Premier has so much land in east Dallas between Henderson and Fitzhugh, and there knowledge/funding for development seems to be limited (ie. the www.metroliveoak.com townhomes at Fitzhugh and Live Oak that are now for sale as a package because they have not been effectively designed/marketed to buyers). I’d love to see their portfolio of land/apartments get sold to a big group of developers with the funding and expertise to build multiple projects at once, but I don’t know how realistic of a hope this is… If this package of land gets sold to another land speculator who intends to collect rents and let it appreciate for 10 years I will be extremely disappointed!

[KBilly]

EastDallasLonghorn... thanks for that post about the land package. Most interesting! :cheers:

Alas, my wife and I are but small time investors, and LH homeowners, so have no informed comment on your curious questions. In fact, I wish we had the answers too!

Please keep posting and interupting! :)

[carousel]

Go hang out around Henderson Ave. You won't stick out at all.

2illlegit2cranky

[gean]

I hate to interrupt the heated discussion of the pros/cons/legitimacy of the gentrification that is happening around Henderson in East Dallas, but I want to share this "for sale" listing that I found on LoopNet.com.

http://www.loopnet.com/xNet/MainSite/Listing/Profile/Profile.aspx?LID=14677557&RecentlyViewed=true&ItemIndex=3&PgCxtDir=Down

1 million SF of urban infill land in E Dallas
Primary Type: Land
Multifamily (land)
Lot Size: 1,044,033 SF
Price: $36,500,000
Price/Acre: $1,522,882.88
Date Last Verified: 7/21/2006
Performance Properties LLC
David McQuaid

Property Description:
Largest private assemblage of urban infill land in Dallas, five minutes from downtown Dallas, Uptown/Oak Lawn, Knox-Henderson, White Rock Lake, Lakewood, Baylor Hospital, Deep Ellum, Lower Greenville Avenue. Over 80% of the land has 756 apartments on it in 20 properties that can be operated while developing apartments, townhomes and condominiums. This portfolio is located east of Central Expressway between Henderson and Fitzhugh, and is experienceing a tremendous amount of redevelopment. This is a unique opportunity for a developer to own the LARGEST PRIVATE ASSEMBLAGE OF URBAN INFILL LAND BETWEEN NORTHWEST HIGHWAY AND DOWNTOWN DALLAS. These properties are not all contiguous, but are very close to each other. Seller could put together up to an additional one million square feet of land (most with apartments on it) in this neighborhood if desired. This is a once in a lifetime opportunity to change a neighborhood for the better with quality new development. Portfolio is priced at land value of $35/sf, while land on the west side of Central Expressway is selling for $40-$80/sf.

Location Description:
Located east of Central Expressway (I-75) between Henderson and Fitzhugh Avenues, the Upper East Side is experiencing more new development than in the last 30-40 years as developers are coming into the neighborhood to build new apartments, condominiums and townhomes. This area is seeing more new development as prices for land on the west side of Central Expressway in Oak Lawn and Uptown are going from $40 to $80 per square foot.


Performance Properties LLC
David McQuaid should sell Avalon Apt As well those apt is the problem in the north Garrett ave community. :(

[EastDallasLonghorn]

I spoke with a guy working on the remodel of the former Alfredo's restaurant at the corner McMillan and Henderson today while walking my dog and he said a bar will open there in three weeks. He also said this is the next project for many of the same people who recently opened "Trece Mexican Kitchen and Tequila Lounge" on Travis just south of Knox. They did a great job on Trece so I'm very optimistic that they can be successful with this location.

http://www.guidelive.com/portal/page?_pageid=33,97400&_dad=portal&_schema=PORTAL&item_id=44022

The same guy also told me that one more home behind Alfredo's is slated for demolition next month to add parking capacity. The valet's for Cafe San Miguel on a busy night will completely fill the Alfredo's lot across the street with cars.

Apparently the lease for Mr. Do's Laundry across the street is up at the end of September and it will not be renewed. I'd love to see another restaurant/bar end up here. It's beginning to seem like there could soon be a "critical mass" of restaurants and bars at Henderson and McMillan to draw people into this area for a full night of dining and entertainment.

[gean]

I spoke with a guy working on the remodel of the former Alfredo's restaurant at the corner McMillan and Henderson today while walking my dog and he said a bar will open there in three weeks. He also said this is the next project for many of the same people who recently opened "Trece Mexican Kitchen and Tequila Lounge" on Travis just south of Knox. They did a great job on Trece so I'm very optimistic that they can be successful with this location.

http://www.guidelive.com/portal/page?_pageid=33,97400&_dad=portal&_schema=PORTAL&item_id=44022

The same guy also told me that one more home behind Alfredo's is slated for demolition next month to add parking capacity. The valet's for Cafe San Miguel on a busy night will completely fill the Alfredo's lot across the street with cars.

Apparently the lease for Mr. Do's Laundry across the street is up at the end of September and it will not be renewed. I'd love to see another restaurant/bar end up here. It's beginning to seem like there could soon be a "critical mass" of restaurants and bars at Henderson and McMillan to draw people into this area for a full night of dining and entertainment.



Ohhh Yeah!!! well I think the people from Pollo Fiesta "party chicken" came back again with a combo of $15.99 hehehe i dont think someone will buy that for that price ohh well :guns: i thought we already got rid of thos guys heheheh :confused:

gean

[Lakewooder]

Two houses bulldozed this week on Alcott, off Henderson and supposedly two more ready to fall -- work on Perry Homes at Belmont going full-tilt.

While driving on Henderson near the closed Carnival, you can look to the left and see First Worthington's Cityville on Greenville - an example of how these developments are starting to merge and get enough critical mass to start snowballing.

[Tnekster]

From the sound of things the snowball is already rolling.

[carousel]

are there any rendering for the Perry project?

[EastDallasLonghorn]

I found a few marketing images on LoopNet.com of this duplex currently under construction on Fitzhugh between Capitol and Fuqua. I'm surprised to see that developers are trying to bring such "high-end" product (2,600 SF each side for $450,000 each), onto a street like Fitzhugh, but if they sell it will be a great indicator for the potential turn around along this corridor as well as Henderson.

http://img138.imageshack.us/img138/6546/nnovativefitzhugh1kz2.th.jpg (http://img138.imageshack.us/my.php?image=nnovativefitzhugh1kz2.jpg)

http://img181.imageshack.us/img181/4989/nnovativefitzhugh2ck2.th.jpg (http://img181.imageshack.us/my.php?image=nnovativefitzhugh2ck2.jpg)

http://www.loopnet.com/xNet/MainSite/Listing/Profile/Profile.aspx?LID=14785710&RecentlyViewed=true&ItemIndex=3&PgCxtDir=Down

[lagunadallas]

I found a few marketing images on LoopNet.com of this duplex currently under construction on Fitzhugh between Capitol and Fuqua. I'm surprised to see that developers are trying to bring such "high-end" product (2,600 SF each side for $450,000 each), onto a street like Fitzhugh, but if they sell it will be a great indicator for the potential turn around along this corridor as well as Henderson.

Interesting renderings...thanks. With land prices going crazy in Uptown & Oak Lawn, a fun project like this at $173/sq.ft. (it'd have to be $50/ft+ higher to work in another prime in-town location) just might attract enough pioneer types to give up location to live in this kind of place. Then hopefully it'll snowball, as we've seen off Lee, Alcott, and the adjacent streets behind the muffler shop at Fitzhugh & Central. I never would've thought several years ago that there would be such decent product there, but it's being built and people are buying it.

[gean]

I found a few marketing images on LoopNet.com of this duplex currently under construction on Fitzhugh between Capitol and Fuqua. I'm surprised to see that developers are trying to bring such "high-end" product (2,600 SF each side for $450,000 each), onto a street like Fitzhugh, but if they sell it will be a great indicator for the potential turn around along this corridor as well as Henderson.

http://img138.imageshack.us/img138/6546/nnovativefitzhugh1kz2.th.jpg (http://img138.imageshack.us/my.php?image=nnovativefitzhugh1kz2.jpg)

http://img181.imageshack.us/img181/4989/nnovativefitzhugh2ck2.th.jpg (http://img181.imageshack.us/my.php?image=nnovativefitzhugh2ck2.jpg)

http://www.loopnet.com/xNet/MainSite/Listing/Profile/Profile.aspx?LID=14785710&RecentlyViewed=true&ItemIndex=3&PgCxtDir=Down


wow they look really cool better than some i being seeing in uptown really high end and minimalistic!!!
thanks for sharing

gean :cheers:

[Milkman Dan]

That's great. We need more of these to start springing up all the way down to Central / Hall. I'd love to see one on my personal favorite East Dallas stree - Caddo.

I wonder why the modernist thing seems to be the way to go in the area - look at the Munger Ave. dwellings also. It's not particularly my style, but if they can sell em then God bless.

[Lakewooder]

I think you can build pretty much anything in the Fitzhugh/Bennett/Carroll/Haskell to Ross and Live Oak Corridor - as opposed to the CDs, PDs and HDs further south and east. It will be interesting to see what happens - perhaps this Laissez Faire area will produce some creative projects which will serve as a catalyst.

Still, it would be nice if the city put in some planning now to avoid mistakes made in Uptown..this would include promised improvements to Haskell/Peak in lieu of the boulevard and future plans for daylighting Mill Creek, along with wider sidewalks, landscaping and lighting...and some planning for future retail -- big boxes and mega-grocery stores allowed?

Please, no more Dahl buildings bulldozed for Fiesta strip centers!

[Bryant]

http://img138.imageshack.us/img138/6546/nnovativefitzhugh1kz2.th.jpg (http://img138.imageshack.us/my.php?image=nnovativefitzhugh1kz2.jpg)

http://img181.imageshack.us/img181/4989/nnovativefitzhugh2ck2.th.jpg (http://img181.imageshack.us/my.php?image=nnovativefitzhugh2ck2.jpg)

http://www.loopnet.com/xNet/MainSite/Listing/Profile/Profile.aspx?LID=14785710&RecentlyViewed=true&ItemIndex=3&PgCxtDir=Down


Those things are hideous.

[EastDallasLonghorn]

The corner of Belmont and Henderson has been very busy this week! Four duplex houses that faced Henderson were just torn down (2502-2514 Henderson), there are now five contiguous lots ready for development on the northwest corner. A roof material sample board appeared on the site yesterday, so they must already be relatively far along in the design of what is planned for the site.
The five lots are listed on DCAD as owned by:
HENDERSON AVE CONDO LLC
2626 HOWELL ST
DALLAS, TEXAS 75204-4064

Based on the name of this LLC I assume we can expect to see a new condo development happen on this site sometime soon. One of the tenants in 2626 Howell is Phoenix Property Company Of Texas; they did the Easton Apartments at Henderson and Manett, so I think it is a safe bet that they are the ones behind this development as well.


Two houses on the three contiguous lots on the northeast corner of this intersection also look vacant and ready for demolition.
These three lots are listed on DCAD as owned by:
HENDERSON AVE RETAIL LP
2626 HOWELL ST STE 800
DALLAS, TEXAS 75204-0831
The name of this LLC implies that a new retail development will probably happen on these three lots. The mailing address of both of these companies is the same, so Phoenix is likely behind this project too.

I’m really happy to see more retail coming to this corridor. Demolition work on the Jerry’s Supermarket is continuing to progress, and the opening of the Shops on Henderson in it’s place will hopefully be a catalyst for additional retail development in the area. It would be great if Henderson was lined with funky clothing stores, antiques shops, and restaurants all the way from Central to Ross. I could imagine this area someday in the near future having a similar vibe to South Congress (SoCo) in Austin!

[lagunadallas]

It would be great if Henderson was lined with funky clothing stores, antiques shops, and restaurants all the way from Central to Ross. I could imagine this area someday in the near future having a similar vibe to South Congress (SoCo) in Austin!

Anything that resembles South Congress in Austin is fine by me. A night at the San Jose, dinner at Vespaio, and some Continental Club music makes for a fantastic weekend. Thanks for passing this on...I'll drive by it today.

[Lakewooder]

A Swearingen sign just went up at the old auto shop across the side street from the old Carnival...looks like the big names, Trammell Crow, etc. are all coming on board with this...

[Lakewooder]

Perry Homes sign is up at Belmont and Henderson.

[lagunadallas]

Perry Homes sign is up at Belmont and Henderson.

Better than trashy apartments I guess, but Perry signs always hold some disappointment. More money into the pocket of that tool down in Houston.

[carousel]

Perry Homes sign is up at Belmont and Henderson.

Let's hope they put up a decent product.

[Lakewooder]

Unfortunately, two "Epic Homes" signs have gone up on the bulldozed lots on Alcott -- house between them has 'sale pending' on it and I think they were asking $235K.

[Tnekster]

IN TOMORROW'S BUSINESS SECTION:

Henderson heading up

A large custom home at Mission Avenue is among the recent developments near Henderson.
By STEVE BROWN

For years, Henderson Avenue was a funkier poor cousin to upscale Knox Street on the west side of North Central Expressway.

But developers are now remaking the stretch between Central and Ross Avenue with new housing and retail space.

The northwest stretch of Henderson is already booming with bars and restaurants. And the redos and teardowns are spreading.

Read the complete story in tomorrow's Dallas Morning News or at DallasNews.com.

[gean]

I saw a lot of trucks yesterday at the old Carnival it looks like a crew people for a movie or something.-

[carousel]

Unfortunately, two "Epic Homes" signs have gone up on the bulldozed lots on Alcott -- house between them has 'sale pending' on it and I think they were asking $235K.

So much for fixing improving those lots. Epic Homes go away.

[kenc]

I saw a lot of trucks yesterday at the old Carnival it looks like a crew people for a movie or something.-

Yes...that was a film crew. It's the second time since Carnival went out that they haved filmed there.

[Tnekster]

Street is coming into its own as trendy area
http://www.dallasnews.com/sharedcontent/dws/bus/stories/092206dnbushenderson.2ebb1ef.html

08:42 AM CDT on Friday, September 22, 2006

By STEVE BROWN / The Dallas Morning News

When Alamo Glass opened its doors on Henderson Avenue in 1943, customers didn't worry much about traffic.

Henderson Avenue is seeing new life with development, including a large home being built at Mission Avenue. Central Expressway hadn't even been built yet. Most folks still rode the streetcar that ran up nearby McMillan Avenue.

"This neighborhood is not set up for the traffic we are seeing," said Rick Worsham, whose family has always owned the glass company. "Starting about Thursday, we can't even get out of the parking lot.

"What's happening over here is good for the neighborhood but hard for our parking," he said.

Mr. Worsham shouldn't expect things to get better.

For years, Henderson Avenue was a funkier poor cousin to upscale Knox Street, across North Central Expressway to the west.

But developers are remaking the stretch between Central and Ross Avenue with new housing and retail space.

The northwest stretch of Henderson is already booming with bars and restaurants. And the redos and teardowns are spreading.

"This didn't happen overnight," said Marc Andres of Andres Properties, one of the biggest property owners on the street. "It has happened 50 feet at a time.

"In a year's time on the outside, you will see a dramatic change on the avenue."

Andres Properties is a big player in that change.

The commercial real estate company owns several blocks for redevelopment along Henderson.


Ground has been broken for townhomes at Henderson and Belmont avenues. Henderson has long been neglected, while Knox thrived on the other side of North Central Expressway. And work just started at Henderson and Capitol Avenue to convert a 40-year-old supermarket and retail strip into the Shops on Henderson.

Andres Properties also owns the vacant Carnival supermarket on Henderson where it plans more development.

"We've had such a strong response that we have tried to hold off signing any leases," Mr. Andres said. "We've gotten calls not just from restaurants, but retailers.

"Right now, the property looks like a bomb hit it," he said. The construction will be finished next year.

Andres Properties has been investing in the East Dallas neighborhood since 1956.

"We're happy that Dad started his business on Henderson instead of on Fitzhugh," said Marc's brother Roger Andres. "What's happening over here is very natural and organic.

"People who understand it are spreading the word," he said.

Restaurateur Hugo Galvan opened his Cafe San Miguel at Henderson and McMillan a year ago.

"When we got here, there was not much going on," Mr. Galvan said. "Now people are really coming to this end of Henderson.

"And the condominiums and apartments they will be building should help everybody," he said.

Perry Homes has already broken ground for a block of townhouses at Henderson and Belmont Avenue. The new homes replace several aging apartment houses.

And across the street, demolition crews are clearing another corner for more townhouses. These will be constructed by Phoenix Property Co., which built the nearby Easton Apartments in 2003. Phoenix Property plans about 24 units, company officials say.

Custom homebuilder Jeff Dworkin has been constructing houses in the area for more than a year. The houses sell for between $375,000 and $500,000.

"This was the first area we bought lots in when I started my new company," Mr. Dworkin said. "The proximity to Lower Greenville and Knox Street is enticing a lot of young couples and single buyers to this neighborhood.

"Every day you drive through and there are more teardowns," he said. "I think you will see the whole area redeveloped."

Of course, not everyone believes all the real estate market hype.

Louis Canelakes, who's operated his family's bar and restaurant at Henderson and Monarch Street for 20 years, said, "I see a lot of speculation going on.

"Something may come of it," he said. "But how many Uptowns does this town need?"

Mr. Canelakes said business at Louie's was good before the property boom and will survive the current run-up.

"I find it amusing that the same people who thought this neighborhood was dangerous are now looking to live here," Mr. Canelakes said.

He said he hopes the retail street keeps a good mix of tenants.

"We are going to keep selling pizza and drinks on this corner for the rest of our lives," Mr. Canelakes said.

E-mail stevebrown@dallasnews.com

[Lakewooder]

"We're happy that Dad started his business on Henderson instead of on Fitzhugh," said Marc's brother Roger Andres."

Actually Fitzugh is improving with First Worthing Cityville and now Trammell Crow coming in...there is a scattering of other projects all the way down to Ross.

[gean]

Street is coming into its own as trendy area
http://www.dallasnews.com/sharedcontent/dws/bus/stories/092206dnbushenderson.2ebb1ef.html

"I find it amusing that the same people who thought this neighborhood was dangerous are now looking to live here," Mr. Canelakes said.

E-mail stevebrown@dallasnews.com

heheh well because you need a Machete to keep bad neighbors away hehehehe :p
I got a feeling that it will be really fun living at henderson now :party:

[kozzy]

I am happy to see the coming of the "shops" and retail development along Henderson. What I don't like is the demolition of perfectly sound dwellings that had no problems in the first place. This includes the entire East Dallas Corrdidor. I am very aware that some of the places along Henderson (former and current) are beyond help, and for that, I find fault in the property owners. I live off of Lower Greenville, and although my house was built in the early 1920's, it is well-preserved because I have a great landlord. The property next door to me recently became vacant because the owner moved to a nursing home. While this house is strong, sturdy, and pleasing to the eye, I can guarantee the vultures will move in with generous offers to buy it, and if successful, they will surely demolish it. My landlord has made an offer to the owner/family as well in hopes of saving this house. While many structures are long overdue to meet with the wrecking ball, I feel like others are meeting with it too soon. While we are on the subject of the Henderson Area, there's a bunch of crap shacks along Lewis right behind the former Carnival that got painted these bizarre colors. Some landscape was added as well. It's odd looking to say the least and was wondering if Santiago Calatrava had a hand in that as well as the Trinity Bridges... :p

[lagunadallas]

I am happy to see the coming of the "shops" and retail development along Henderson. What I don't like is the demolition of perfectly sound dwellings that had no problems in the first place. This includes the entire East Dallas Corrdidor. I am very aware that some of the places along Henderson (former and current) are beyond help, and for that, I find fault in the property owners. I live off of Lower Greenville, and although my house was built in the early 1920's, it is well-preserved because I have a great landlord. The property next door to me recently became vacant because the owner moved to a nursing home. While this house is strong, sturdy, and pleasing to the eye, I can guarantee the vultures will move in with generous offers to buy it, and if successful, they will surely demolish it. My landlord has made an offer to the owner/family as well in hopes of saving this house. While many structures are long overdue to meet with the wrecking ball, I feel like others are meeting with it too soon. While we are on the subject of the Henderson Area, there's a bunch of crap shacks along Lewis right behind the former Carnival that got painted these bizarre colors. Some landscape was added as well. It's odd looking to say the least and was wondering if Santiago Calatrava had a hand in that as well as the Trinity Bridges... :p

I also wish it could be that way much of the time, but as you know, the economics rarely make sense to keep the old houses. If the land value is $250K, there isn't a buyer out there who would pay $250K but keep the house and sink $100K into making perfect a 1200 sq.ft. cottage that has had decades of deferred maintenance. That'd be about $300/sq.ft., and we're many, many years away from that number in 95% of East Dallas neighborhoods. It makes sense for the builder who can construct 3500 sq.ft. at $100/sq.ft. and sell the house for $200/sq.ft., which is a $100K gross profit rather than having to wait 10 years just to get your money out of the 1200 sq.ft. house.

[Lakewooder]

I too hate the demoliton of historic homes, that's why I've worked on Conservation Districts in Lakewood Country Club Estates and the Historic District for Junius Heights. I'm also now working on another one in a neighborhood where I own some properties.

But you have to look at it from the landlord's perspective: When you have to start paying $500 - $600 per month in property taxes because of the lot value increase, it becomes very hard to make a property work, even if you've have no mortgage. The rent is just not going to cover the costs, especially when you add the high insurance rates we must pay in Texas. That is why a lot of houses are going down.

The upside is that it decreases the number of rental properties available, which increases rent. So perhaps a balance will someday appear...unfortunately we will also lose some of our bohemian flavor, as artists, writers and musicians will no longer be able to afford the area. I also like talking to intellectual ne'er do wells, as long as they are not my tenants!

[EastDallasLonghorn]

Speaking of demolition - Franklin Capital Group is currently demolishing three additional houses contiguous to the land they own at the corner of Fitzhugh and Fuqua. This will give them five connected 50'x180' lots - probably enough land for 20-25 townhomes if they build a product similar to what they are finishing up across the street.

I continue to be surprised at the amount of money developers are sinking into projects on Fitzhugh... Has anyone heard anything about the Trammell Crow project at Fitzhugh and Monarch? The zoning change notification sign they posted says they want to have the property rezoned from MF-1 to MF-2, and I can't imagine anyone being opposed to the additional investment/density in this area.

[gean]

I saw some colour signs from the City on the land of Performance Properties LLC
David McQuaid :D on Garrett Ave :rolleyes: I think they have there eyes on him now :p

[Lakewooder]

I was talking at the Woodrow game last Friday about the Henderson/Fitzhugh area with some Real Estate types and they were saying that sometimes the TH zoning is actually better because the setbacks are less and you can get more on the lot(s).

Of course that may only apply to townhomes for sale and not for rent...anyone know?

[Lakewooder]

Saw some surveyors behind the old Alfredo's yesterday...

[kenc]

The upside is that it decreases the number of rental properties available, which increases rent. So perhaps a balance will someday appear...unfortunately we will also lose some of our bohemian flavor, as artists, writers and musicians will no longer be able to afford the area. I also like talking to intellectual ne'er do wells, as long as they are not my tenants!

Spoken like a true landlord..... the "upside is that it decreases the number of rental properties available, which increases rent". Great. That's what we need...higher rents! Yes, I do understand your point about taxes. And maintenance. But there has to be a better solution than passing all costs along to the rental population, which can least afford it.

[UrbanHope]

I was talking at the Woodrow game last Friday about the Henderson/Fitzhugh area with some Real Estate types and they were saying that sometimes the TH zoning is actually better because the setbacks are less and you can get more on the lot(s).

Of course that may only apply to townhomes for sale and not for rent...anyone know?

If my memory serves me right...

TH-1 vs MF-1. Less lot size required for single family units w/TH-1, rear yard setbacks can be slightly lower.

JStrater would know this

[Lakewooder]

Spoken like a true landlord..... the "upside is that it decreases the number of rental properties available, which increases rent". Great. That's what we need...higher rents! Yes, I do understand your point about taxes. And maintenance. But there has to be a better solution than passing all costs along to the rental population, which can least afford it.

OK, but I have one small property where the taxes are $5,000 and the insurance is around $1,000. The tenant has been there 12 years and only pays $595. And she pays on the first, doesn't complain much so I have tried to accomodate her by not raising the rent even though I'm only breaking even. Soon I will be losing money. What do you suggest I do?

[Lakewooder]

Maybe we should start a new thread: Near East Dallas Fitzhugh Ave. Developments...

From this week's White Rocker (paraphrased):

NT 101 Development plands a new residential development of about 30 units 'around' the southwest corner of Fitzhugh and Homer. Three 40-year old buildings at the site will be demolished. The developer is seeking a zoning change from MF1(A) to MF2(A). It will come before the CPC on November 2nd.

I think this is next to the new Trammell Crow development which I believe will be in-between this and the completed First Worthing Cityville development...anyone?

I hope this means the tire shop is going. Crow Holdings is not going to put up with that eyesore...