Dallas' "Highway" Park

http://archpaper.com/news/articles.asp?id=6435

The article in today's Architect's  Newspaper has an interesting perspective on the recently opened Klyde Warren Park, bridging Uptown with Downtown.  While the writer complements Dallas for another glitzy addition to  the urban streetscape, he wonders if the park will encourage people to get out of their cars long enough to enjoy it, and suggests that the City continue its greening up with similar conversions of adjacent parking lots to greenspace.  In 2012, we've added Main Street Garden, Belo Garden, with more to come.  The Dallas Museum of Art and Nasher Museum are rumored to be re-orienting to become a part of the "Highway" Park.  Ride down there, take the trolley, ride your bike there;  looks like it is working quite well!

Museum Tower Happy New Year Opening

Wonderful opening party at Museum Tower, Dallas' striking, elliptical-shaped addition to the skyline!  The architects of record, Charles Gromatzky and Mark Manske of GDA Architects described how they designed the pool area to be grandkid-friendly (on advice from Dallas developer Bill Criswell), with the entire perimeter edge of the pool sunken in an inch of water, and a 3' depth along one side, lap swim on the other. Important because who will be visiting this sun-splashed deck with soft music emanating from rocks, surrounding them, but children?
My favorite view, even more than the 38th floor city views, was the 5th floor scene of Klyde Warren Park, the Arts District and Perot Museum of Nature and Science.  Absolutely stunning, and if you are considering a highrise, you will not be disappointed in this architectural gem, with its versatile quality interior selections, wide open views and  timeless design.

Kim & Taylor, Dave Perry-Miller & Associates

Cedar Springs new BOULEVARD

If you haven't driven up Turtle Creek 'til it turns into Cedar Springs lately, you are in for a wonderful Dallas surprise!  The new landscaped and treed medians that are being sculpted through Uptown, passing the Crescent, Ritz, Ocean Prime to the crest of the hill are absolutely stunning.  These improvements will enhance the real estate values on both sides of Cedar Springs, and the drive all the way to Victory, Perot Museum and past the new Uptown highrise office/residential structures makes you feel like you have arrived into a MAJORLY cool city.  This is Dallas 2013!  Happy New Year!

2013 Residential Dallas

Britt Fair of Hexter Fair Title Company reported super interesting stats today on the residential market. 25% more transactions than the same period in 2011, but prices DOWN 15% in Preston Hollow. Similar stats in Park Cities. Lakewood had 20% + transactions and a 2% price increase over the first 9 months of 2011.  Terrific year in 2012 for the sweet spot of prices, $500,000-800,000. Low interest rates expected to continue for awhile, along with stable Dallas prices.

2013 expected to be slower due to LOW inventory, continuing concern over international market stability, job creation in the private sector and the continued monetarizing of U.S. debt. Ouch.
Can't wait to see how the election tomorrow affects Congressional gridlock and the fiscal cliff, additional factors setting the tone for the 2013 Dallas residential market. We are hopeful more Sellers will decide to list their homes to satisfy demand.

While most major markets fell off of a cliff in 2007, slow and steady Dallas never boomed, and never  busted. We've had continuous positive job creation that hasn't varied from 45-49,000 new jobs per measured period since 2001. When people feel secure in their jobs, they buy in the sweet spot. When the wealthy feel good about the stock market, they buy more high end homes.

So interesting that we are experiencing the lowest interest rates in US history, and buyers/sellers taking light advantage. Go find a residential property to buy, Americans!

Sources: NTREIS, Case Shiller

Candy Evans post on Culture Map

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Checking out New City Performance Hall!

Checked out  this brand new venue, the newest gem in the Arts District with a Dallas Classical Guitar Society concert.  The acoustics were so good, the artists said they did not need microphones or amplification!  Very classy, understated venue with good street parking nearby.  It was fun to see events going on simultaneously in the plazas, the Wyly Theatre, and the Performing Arts Center.  And this month, the new 5 acre deck park is opening!  My question is, where do visitors park? Can't wait for this.  Not only that, the Perot Museum of Nature & Science opens in December, along with Museum Tower!  What a gorgeous skyline we have, and what terrific cultural and entertainment opportunities are here!

Luxury Homes Preston Hollow -- Deals Abound!

     Great press on the Dallas residential market is permeating the media -- 17% fewer properties on the market than September 2011, 3.8% price increase average, tight markets in Preston Hollow, Park Cities in Lakewood, with less than 3 months supply.
     Terrific news for the market and for Sellers in this new Sellers' market!  A closer examination will tell us that, for properties above $3 million, Preston Hollow is a BARGAIN and is a Buyers' market.  There are 31 listed currently on 1 plus acres, definitely down from 50+ a few years ago, and many of these are fine, quality properties in great locations.  Buyers can find luxury homes in the $350-$450/sf price range.  The market is averaging a little over 1 luxury sale per month.

5330 LOBELLO, HIP POCKET LISTING ON 1 ACRE, $4,395,000, 9516 SQUARE FEET, BUILT 2007, REMARKABLE HOME!

     The odd quirk is, there have been two sales, both Dave Perry-Miller & Associate listings, that sold close to list in the $550-$725/sf range this year; one on Park Lane, new construction, sold in less than 2 months, and the other, on Strait Lane, was an off market sale.  Crazy times! Great being in Dallas!