Posts Tagged ‘Downtown Dallas’

The Unique Districts of Downtown Dallas

Tuesday, May 4th, 2010

The downtown Dallas real estate market continues to be hot, hot, hot for a myriad of reasons; but the eclectic, hip downtown districts are definitely one of the driving forces for the dynamic downtown real estate market.

Downtown Dallas is separated into five, distinct neighborhoods, or districts, which include:

  • Arts District – The Arts Districts is, of course, the Mecca for all things cultural and artistic. It is where you can see all aspects of the Dallas visual and performing arts sectors; therefore it is the place to go for outstanding arts, stimulating culture and jaw-dropping performance arts. Just some of the must-see locales in the downtown Dallas Arts District are the Annette Strauss Artist Square, the Belo Mansion, the Dallas Museum of Art and the Nasher Sculpture Center.
  • Farmers Market District – Can you already smell the red-ripe tomatoes and envision beautifully crafted works of art? If so, then you know you’ve imaged downtown Dallas’ Farmers Market District. This is the place to go for fresh produce, homemade arts and crafts, fresh flowers and goodies galore.
  • City Center District – The City Center District of downtown Dallas, which is located beside the Arts District, is where you will find many of Dallas’ business, office buildings and hotels. From high-end boutiques to trendy restaurants and sky-scraping buildings, City Center District is where the excitement and the opportunities lie.
  • Reunion District – The downtown real estate market is booming, thanks to the Reunion District. As far as the downtown real estate market goes, this is the place to experience some of the most luxurious condominium homes within the city. Some of the more renowned locations in the Reunion District include the Hyatt Regency Dallas and the Reunion Tower.
  • West End Historic District – We just love the downtown real estate market in the West End Historic District for so many reasons. It is a place to live; a place to work; and a place to have fun and experience the beauty of this picturesque downtown district. Beautifully restored historic brick buildings of Dallas can be found here, as well as a great array of shops, restaurants and boutiques. Loft living makes up a large portion of the downtown real estate market here.

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Subleasing your Downtown Dallas Office Space

Thursday, March 11th, 2010

If you are struggling to pay the rent on your downtown Dallas office space, you may have given some thought to subleasing part of your space. Many business owners, facing economic losses and climbing fees, have turned to the idea of subleasing their downtown Dallas office space.

Although this may seem like a logical solution, there are a variety of factors to remember before subleasing your downtown Dallas office space:

  • Subleasing can allow you to share your lease burden with another company and cut your raw office space in half. It is likely that you will be able to successfully sublease your downtown Dallas office space, given the excellent location in the city. You must be prepared, though, to charge your tenant less per square foot.
  • The stability of your sublease agreement relies heavily on the stability of the company that is purchasing the space from you. In other words, you may end up losing your tenant. It may be a good idea to choose an established company with a stable business history so that you can mitigate your risk.
  • Realize that you and your tenant may have different views on the operation and layout of a business, but that your tenant controls their space, not you. It may be hard to relinquish control over your tenant’s space, but your tenant has as much right to use his or her space (within the confines of the lease, of course) as desired.
  • Do your homework and read your lease carefully when it comes to subleasing. Most lease contracts will have specific language about subleasing, so read and understand these terms before subleasing the space. Subleasing can benefit both you and your tenant, but it can also present a variety of problems and obstacles. Make sure you are ready to address these issues before subleasing.
  • Figure out how much you will need to lease the space for without hurting your bottom line. Consider the costs of operation, utilities and the like, and make sure that your tenant realizes all of the related costs of subleasing your downtown Dallas office space.

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Where is the Downtown Condo High-Rise Market Heading?

Tuesday, September 8th, 2009

Here is the problem: condominium sales in Dallas are down about 30 percent for 2009, while sales of single-family homes in Dallas are down about 20 percent.

Why the difference? Well, it lies within the fact that most downtown condos tend to be pricey -very pricey.

Tougher Financial Standards Spell Trouble

For example, the majority of downtown Dallas condos (at least 85 percent) are well above $417,000, which makes them fall into the “jumbo loan” category. And, as many of us know, jumbo loans can’t be financed through government-sponsored mortgage programs.

Tougher financial standards mean that many buyers are turning to detached homes over condominium homes. So instead of the larger down payments and higher credit scores needed to purchase a pricey downtown condo, buyers are considering other options.

A Bright Spot Lies Ahead

Here’s the bright side: now is a fantastic time to purchase a downtown Dallas high-rise!

In fact, the surplus of downtown Dallas condos means that builders and sellers are offering loads of fantastic incentives for buyers. In fact, the state of the real estate market means that now is the time to consider purchasing a high-rise condominium property in Deep Ellum, Turtle Creek, Uptown and Downtown.

Let’s face it: downtown living is unsurpassed, as it affords residents the ability to work and play in one place. Downtown Dallas is still a popular choice among young, Dallas professionals; however, many other types of buyers, including families and empty nesters, are discovering that there are great deals to be had and even greater amenities and features to be had, in one of Dallas’ outstanding high-rises.

Although the condominium high-rises in Dallas, like the Metropolitan, the Museum Tower, and One Arts Plaza, are the cr

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Victory Park – Has it Lived up to all of the Hype?

Friday, July 31st, 2009

Victory Park has been called one of Dallas’ best achievements. This gorgeous, 75-acre community boasts beautiful residences, outstanding hotels, upscale shopping, trendy restaurants and the best Dallas entertainment, and that’s just for starters!

Often referred to as the centerpiece of the “new” Dallas, which is located on the west side, Victory Park is a source of tremendous potential for new construction and a revitalized community.

A fine example of the success of the construction industry in Victory Park is the W Dallas and the House by Starck & yoo. These exceptional addresses boast some of the finest residential condominiums in Dallas, if not Texas.

The key location of Victory Park has also been masterfully designed, as it is linked to many of Dallas’ main areas, including Uptown, Downtown, the Arts District and Turtle Creek. It is also conveniently located near many of Dallas’ landmarks, including the Dallas Convention Center and the Dallas Market Center.

The Problem with Victory Park

Although the concept of Victory Park seemed invincible, there seems to be one, major flaw: it’s just too high-end for many Dallas residents. Considering that other, nearby neighborhoods, such as North Henderson Avenue and West Village, are as popular as ever, it becomes very clear that Victory Park simply missed the mark. And many Dallas residents aren’t very happy about it.

Because Victory Park was largely funded by taxpayers, it stirs up quite a few emotions from the residents who paid for it. Ross Perot’s vision for Victory Park meant that the casual restaurants and retailers that many residents have grown to love were simply cast aside for their more upscale counterparts.

As a result, many of the posh retailers of Victory Park have left due to -what else – a lack of business. The streets are deserted and the taxpayers are fuming.

It is therefore up to Hillwood, Victory Park’s real estate firm, to realize that, in order to make Victory Park the success that it was intended to be, more affordable restaurants and retailers will need to gradually take the place of the ritzy establishments currently struggling to turn a profit.

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Condo Living is Alive and Well in Downtown Dallas

Tuesday, January 20th, 2009

Condo living seems to be the name of the game when it comes to downtown Dallas real estate. As more and more people come to realize that the convenience and perks of city living are right for them, the downtown Dallas condo market will continue to provide luxurious accommodations for even the most discerning buyers.

Downtown Dallas Texas Skyline Bank of America Fountain Place Trinity River Bottoms Hurricane Ike Skyscrapers La L'aceate by David Kozlowski.

photo by David

Many of the condos throughout the Dallas area speak of the high level of service and luxury that Dallas condo residents are demanding. Today’s Dallas condos are truly jaw dropping, to say the least. Sweeping views, expansive terraces, floor-to-ceiling windows, high-end interiors and surroundings and superb amenities are commonplace.

The Metropolitan Condominiums, for example, which are located in the heart of the downtown, on Main Street, feature modern, gourmet kitchens with granite countertops and stainless steel appliances, a rooftop swimming pool, garage parking and a state-of-the-art fitness center.

The Metropolitan Dallas by miss_muffy.

photo by Miss Muffy

Or consider the 1505 Elm Condos, which are not only located near some of the trendiest clubs and restaurants in the downtown area, but also feature loft-style living, which has become a popular trend throughout downtown Dallas.

In addition, the stunning, glass tower of the Museum Condos is, perhaps, one of the most talked-about buildings when it comes to downtown Dallas real estate. This luxury high-rise tower boasts dramatic, modern architecture, beautifully decorated and thoughtfully appointed interiors with floor-to-ceiling glass, direct-access elevators and sweeping terraces, and an impeccable array of services and amenities, such as personalized concierge service from Neiman Marcus.

Urban living isn’t left to the single professionals, either. Families, empty-nesters or those simply looking for a comfortable, maintenance-free lifestyle in the heart of downtown Dallas’ excitement are now turning to the luxurious lifestyle that so many people crave.

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Award-Winning, Concierge Living at The Plaza Turtle Creek

Thursday, July 31st, 2008

The Plaza Turtle Creek has taken luxury condo living to a whole new level. Managed by the award-winning, five-star Rosewood Mansion on Turtle Creek, a luxury hotel which was named number one in the world for service by Travel & Leisure Magazine in 2002 (the only U.S. hotel to ever receive such an honor), The Plaza Turtle Creek offers its residents the same luxury services as guests at Rosewood Mansion on Turtle Creek.

Exceptional Services

The Plaza Turtle Creek provides its residents with the ultimate personal services, such as 24-hour concierge and valet service, limo transportation, absentee homeowners

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