Uptown: 17Seventeen McKinney (~19 ST. off.) + 1700 Cedar Springs (~26 ST. res.)

[BigD5349]

DR Horton has a good reputation for building tract homes out on the edge of the suburbs, but condos in the heart of Uptown? Do they have any experience with this kind of project? I'm going to keep my eyes on this one, I'd hate to see another Steve Shafer project, a suburban developer who knows nothing about building in this envionment!

***


Condos up next for D.R. Horton?

Builder to venture into high-rise market with Uptown tower


12:00 AM CST on Thursday, November 10, 2005

By STEVE BROWN / The Dallas Morning News

D.R. Horton – the country's largest homebuilder – is plotting a move into the high-rise residential market.

The Fort Worth-based builder has teamed up with a Bedford developer who plans to construct an Uptown condo tower.

The project is still in the planning stages, but word about it is widespread among real estate brokers. D.R. Horton officials did not return phone calls or e-mails.

Planned for a block at McKinney Avenue and Akard Street, the 21-story project is one of two residential buildings proposed for the site by Centurion American Development Group.

Centurion is designing a building with about 150 units, which D.R. Horton would build out.

"We are just building the shell," said Centurion president Mehrdad Moayedi. Horton will then finish out the condominiums "a floor or two at a time," he said.

"It will be another 30 or 40 days before we have an announcement."

The building site also has room for a second, 10-story condominium plus a free-standing restaurant, Mr. Moayedi said.

Horton builds more than 50,000 homes a year in 23 states. Although most of the company's construction is traditional single-family homes, the builder is increasing its offerings in higher-density housing, including townhomes.

"We have talked to a few builders that have looked at this concept," said Ted Wilson, an industry analyst with Dallas' Residential Strategies Inc. "With the competition in this market, a lot of builders are venturing into new areas."

Mr. Wilson said a company such as Horton could be a formidable competitor in the high-rise condo market.

"You have a Wall Street company acting as a principal in this," he said. "You also have Horton's strength in marketing."

Few traditional builders have entered the booming high-rise residential market, but condominium sales are surpassing single-family home activity in select U.S. locations.

"It doesn't surprise me that the big builders are moving in that direction – especially in markets where condo product has proven to have a lot deeper demand than single-family," said long-time Dallas housing analyst Ron Witten.

"The big builders are eager to maximize their volumes."

[jammin]

Mehrdad is a good friend of my dad's; i will be able to get some info on this one ;)

[clipper]

Actually, Horton rates near the bottom of the list of local builders for quality and customer satisfaction.

[psukhu]

I would say that DR Horton is the Honda of entry level suburban homes. Let's see if they can translate that to highrises.

I wonder if these will have luxury finish outs or will they skip the granite, marble etc in an effort to keep the prices down?

(I once lived on the 21st floor of a highrise in NYC that had the finish out of a starter home)

[BigD5349]

Actually, Horton rates near the bottom of the list of local builders for quality and customer satisfaction.

Ugh. I wonder if anyone has any customer satisfaction reports on Horton they can post here?

[AZDallasite]

As a homebuilder myself, there are few national builders I would ever buy from and DRHorton is not one of them. You might as well buy a KB home.

The only national homebuilders I would buy from are either Pulte or Ashton Woods. As far as local builders, David Weekley, Highland and Darling all build quality homes.

[Boredkid]

I built and own a dr horton home in west plano and love it. We had some problems with another building in our neighborhood, but dr horton steped up and resolved the issure for us. I grew up and highland park and granted its not quite up to par with a completly custom home. The standard finish outs were great, granite in the kitchen, and all bathrooms, hand trowled walls, stainless steal apliances, and much more. I am currently not living there, purchases a loft downtown, but I will keep the home for many years to come.

[WestTexan]

I also owned a DR Horton new home about 6 years ago and found the finishout to be bland but the construction quality was excellent, especially for a tract home. My neighbors with DR Horton homes had almost no complaints, compared to neighbors who bought from other builders, who dealt with some builder nightmare scenarios.

I know several years ago that DR Horton built townhomes in the $450,000+ range at The Enclave at the TPC in Irving. I've never heard anything about the quality of these townhomes, but it indicates the Company has some experience with higher-end projects.

[Columbus Civil]

So the guy's a doctor and a homebuilder? He must rake in the bucks.

[Boredkid]

I know they have differnt levels of finish outs. Differnt projects have differnt standards. I remeber there was an elderly lady in my neighbor hood who could not afford the home, and they lowered her level of finish out so she was able to afford the home. I think the people complaining about the level of the finish outs purchased a home with a lower end finish out. Also if you look hard enough you are going to find a problem.

[WestTexan]

...

[Tnekster]

Which corner of McKinney and Akard is this?

[Lakewooder]

DR Horton is


http://www.hotonhomes.com/images/mstHead/HEADER2_02.jpg LO MAC

[TexasStar]

^:D funny!!!!

[clipper]

This is the vacant lot just east of El Fenix. I hope the buyers like tex mex.

[Tnekster]

^Ok thanks

[RadicalBender]

This is the vacant lot just east of El Fenix. I hope the buyers like tex mex.

Interesting. I used to park there many moons ago. (Cheaper than paying $5/day downtown. I paid 75¢ and did some good walking.)

[Lakewooder]

If things keep going this way, the orginal El Fenix may be extinct.

[clipper]

I wouldn't bet on it. That thing is a money maker and stays packed for lunch during work days. The line is out the door sometimes.

[Tnekster]

That whole LoMac area will be unrecognizable in a very short period of time the way things are going.

[tamtagon]

Planned for a block at McKinney Avenue and Akard Street, the 21-story project is one of two residential buildings proposed for the site by Centurion American Development Group.

Centurion is designing a building with about 150 units,

also has room for a second, 10-story condominium plus a free-standing restaurant, Mr. Moayedi said.

"It doesn't surprise me that the big builders are moving in that direction – especially in markets where condo product has proven to have a lot deeper demand than single-family," said long-time Dallas housing analyst Ron Witten.

"The big builders are eager to maximize their volumes."

I like it that another a local company is building up the area. Horton can jack up the luxury finish and profit-margin with this LoMac proposal to help cover the cost of starting a new business division which hopefully will deliver a higher volume of more affordable highrise residences in other parts of Central Dallas.

Cedar Springs, Market Center, NoMo/SoMo, East Dallas, Parkland, Baylor, Deep Ellum are all very likely and accommodating candidates for thousands of new CBD workers.

[Lakewooder]

Don't get me wrong, I love El Fenix! I'm just worried they may sell if the price is right...

[AZDallasite]

As long as Ruben Martinez is alive, I don't think they will sell.

[tamtagon]

^Maybe El Fenix will expand with a dance hall, second story dining rooms and an indoor/outdoor rooftop bar/lounge.

I would love an upscale Tejano venue in Downtown Dallas. The more fancy hotel rooms that get built in LoMac, the more rich Latin visitors will check out the scene.


http://www.dallasnews.com/sharedcon...n1.3439ca8.html

Steve Brown:

09:17 AM CST on Tuesday, November 8, 2005

More luxury

Another luxury hotel and residential project is in the works for Dallas' booming Uptown neighborhood.

Crescent Real Estate Equities – which is building the $213 million Ritz-Carlton Dallas and the Residences at the Ritz-Carlton – is looking at another project across the street.

This high-rise at McKinney Avenue and Olive Street would be operated by Crescent's Canyon Ranch resort and living brand.

Look for Crescent also to push ahead with a second tower on its Ritz project, where demand for condos has far exceeded expectations.

[DFW]

Don't get me wrong, I love El Fenix! I'm just worried they may sell if the price is right...

....and oh my "God", Lunas Tortillas famous for their tamales is next door to El Fenix they been there since about 1918.

[BigD5349]

Ugh. You guys are right. JD Powers released ratings of new home builders in September 2005.

DR Horton is a dog. Check out the DFW report here:

http://www.jdpower.com/pdf/2005144.pdf

They are *way* down the list. It's not just DFW. They seem to be having problems in many markets.

This is not the builder we want on the front lawn of the Woodall Rogers park, nestled between Victory, Uptown and the Arts District.

[psukhu]

DR Horton is


http://www.hotonhomes.com/images/mstHead/HEADER2_02.jpg LO MAC


That is a good point. Maybe Uptown will get wider reaching publicity through "Hot on Homes"?

[clipper]

Some photos of the project.

[clipper]

A site plan.

[clipper]

They plan this across the street at McKinney and Akard.

[BigD5349]

Thanks clipper, good find! I like the first building, the 2nd one looks kind of odd to me, sort of stuffy, but with a glass cylinder on the end...

[St-T]

The site plan looks like a suburban office park--but, oh well...

Anyone have a clue on the "stand-alone" restaurant? ...I've heard Houston's has been looking for locations in Uptown for a while.

[clipper]

I think the silo building goes on that little triangular block bounded by St. Paul, McK and Akard.

[clipper]

As for "suburban" look, these are suburban developers so what do you expect.

[St-T]

Thanks, clipper. Any idea on the restaurant???

[rantanamo]

Why do suburban developers want to be in Uptown so badly? I thought the burbs were doing great. It would not have been hard to create a great block of urbanity.

[slfunk]

They plan this across the street at McKinney and Akard.

Not liking this building.

[ParkCitiesTexas]

I Like It

[St-T]

I'm not a big fan, either. I hope that at the least they plan to have retail on the ground level for the McK tower.

and, it beats a parking lot...

[clipper]

That's the second proposed high-rise I've seen for that triangle. Nothing's been built yet and may never be. As for the bigger building, it's no looker. The idea there is a low cost alternative to all those $400 a foot and up towers they are selling in Uptown.

[Columbus Civil]

Damn that's ugly.

[BigD5349]

Not liking this building.

I can't put my finger on it, but it's weird. I don't like it either. It looks like a Best Western Motel on steroids, with a roof that is supposed to make it look high class, and a glass silo that looks totally out of place. Looks like the silo was snapped on as an afterthought.....

[CTroyMathis]

Does that say 'Carlton House' on the building at the triangular-site. . .?

[BigD5349]

^Oh yeah, I like the little porsches driving out of the parking garage ;)

[CTroyMathis]

Or Caroline?

[St-T]

Who cares what it says--hopefully it won't be built... that is U G L Y!!

[US75Guy]

It looks like a Best Western Motel on steroids.

And the solid wall at street level shows a complete lack of understanding for the new urban lifestyle and dynamic. A complete disregard and rebuttal to the neighborhood around it.

I love the potential investment, but someone from Horton needs to spend an afternoon driving around uptown before signing off on this barn.

[St-T]

We should be mad at the zoning comission if they pass this--otherwise, developers will keep on building this crap

[slfunk]

Honestly it reminds too much of a mountain retreat outside of DollyWood near Gatlinberg, TN.....

[carousel]

On a positive note, I like the balconies.