Oak Lawn: 125 Condos & Townhomes on Cedar Springs

[MarkL2023]

Another Oak Lawn condo project planned

05:10 PM CDT on Wednesday, July 18, 2007

By STEVE BROWN / The Dallas Morning News
stevebrown@dallasnews.com

Developers plan to build more than 100 condos and townhouses on Cedar Springs Road in Oak Lawn.

CLB Partners has already done one successful condo project in the neighborhood and has now started work on another.

The 3.4-acre development is planned for the block bounded by Cedar Springs, Raleigh Street, Hawthorne Avenue and Hartford Street. The property was previously occupied by apartments.

"We are going to do 125 units," said developer Will Cureton. "Ninety of them will be condos similar to our Westside project, and 35 will be townhomes."

CLB Partners built 83 one- and two-bedroom homes across the street in its Westside Condominiums community at Cedar Springs and Raleigh.

Located between the Dallas North Tollway and Love Field, the surrounding neighborhood is in the midst of redevelopment.

"It's an affordable market there," Mr. Cureton said. "At that location, you can build a good starter home for a lot of people."

Units in CLB Partners' new project will start around $160,000 and top out about $250,000.

"We are going to be hopefully starting this project in early October," Mr. Cureton said. "The first move-ins should be in December of next year.

"It's going to be amazing what that neighborhood will look like in a couple of years."

Based in Dallas, CLB Partners has also built residential projects in Dallas' Uptown district, Austin and California.

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any pics of the westside project?

[KesslerDweller]

hmmmm . . knowing how much land costs are in Oaklawn, I am trying to figure out how one is going to be able to build a townhome that sells for $250,000 and make money. The numbers don't work.

[1999McKinneyAve]

I think land in Oak Lawn that is west of the Tollway and south of Cedar Springs is much cheaper than east of the Tollway. But you're right, that price point wouldn't work in other parts of Oak Lawn.

[frankchitown]

This is where the Tecali used to be...West of the tollway and bordering a four block public housing project. This address doesn't have the Oak Lawn/Turtle Creek appeal that other properties in the area have, hence the lower market rates. The Thunderbird Residences a block away went condo this year starting at $150, but only one unit has sold so far and those have been reduced to $115.

[KesslerDweller]

Anyone know how much land costs are per foot in this area. I would be suprised if it was below $25.

[amshepar]

www.westside-condos.com is the site. i had an offer on one before i decided on my place that i am in now. They are actually very good condos for the price point. Its the same developer that did the Tribeca condos on Cedar Springs as well. The unit i was looking at was 1200 sq ft and it was 2br/2ba, with all the standard amenities seen in new condos these days, but the living room had 19 foot ceilings...it was a great unit.

My guess is that they will be townhomes not greater than 1600 sq feet and will be priced in the 259 range before all the packages.

This is probably one of the better areas for an investment condo. Prices are still cheap enough and if one buys into them now and holds onto it for 5-7 years the prices will increase significantly.

[psukhu]

hmmmm . . knowing how much land costs are in Oaklawn, I am trying to figure out how one is going to be able to build a townhome that sells for $250,000 and make money. The numbers don't work.


It depends on the size. These might be on the small side compared to what was being built five years ago in Oak Lawn.

Also, they may have already owned the land. Meaning, the current market price of the raw land may not be a factor in the feasibility of the project from a cost perspective.

[KesslerDweller]

Yeah - perhaps. Developers that buy land on the cheap and hold for years don't pass that savings on to people that buy. There is a cost to holding land - interest and opportunity costs.



It depends on the size. These might be on the small side compared to what was being built five years ago in Oak Lawn.

Also, they may have already owned the land. Meaning, the current market price of the raw land may not be a factor in the feasibility of the project from a cost perspective.

[OrangeMike]

There is finally some activity on this lot--construction signs are up on the corners and some dirt is being moved around.

[OrangeMike]

The huge trees in the center of this lot that were protected and saved during the Tecali demo have now been uprooted and piled up.