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  #321  
Old Posted Apr 30, 2005, 3:39 PM
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Hunt Tower - Downtown Dallas

Quoted elsewhere:

...But the Hunt tower is pretty much a go ahead project.
I know this only because I've seen the final design. Its a pretty
awesome building, but I don't have the rights to post the
pictures. I will say its not going to be very tall about the
same height as the Federal Reserve. Still a pretty awesome
looking building. I was impressed that it was not designed
by a "high design" architect. Has some fun curves and some
different colors that will be introduced into the skyline.

Also, we were involved momentarily with a high rise design of a
building in the Arts District near City Lights. Going to be about 18
stories due to the limited size of the lot. We lost the bid early on
because of my firms lack of experience in high rise residential (even
though we have done highrise hotels...etc... beside the point). But
this may be one of the projects one of those article was mentioning.
I can tell you there is a lot being talked about in the Arts district
right now by different parties. I do not know all the specifics, but
have heard talk of a couple projects being approached by different
developers. So I'd expect this Arts plaza is just a start of a couple
more projects that may be announced in the near future.


Loose design possibilities for the Hunt Tower (should be safe to disregard the overall brown hues as being dominant) :



Guessing this may more resemble some sort of final design, but, I wouldn't know de facto:
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  #322  
Old Posted Apr 30, 2005, 3:39 PM
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Hunt Tower - Downtown Dallas

Quoted elsewhere:

...But the Hunt tower is pretty much a go ahead project.
I know this only because I've seen the final design. Its a pretty
awesome building, but I don't have the rights to post the
pictures. I will say its not going to be very tall about the
same height as the Federal Reserve. Still a pretty awesome
looking building. I was impressed that it was not designed
by a "high design" architect. Has some fun curves and some
different colors that will be introduced into the skyline.

Also, we were involved momentarily with a high rise design of a
building in the Arts District near City Lights. Going to be about 18
stories due to the limited size of the lot. We lost the bid early on
because of my firms lack of experience in high rise residential (even
though we have done highrise hotels...etc... beside the point). But
this may be one of the projects one of those article was mentioning.
I can tell you there is a lot being talked about in the Arts district
right now by different parties. I do not know all the specifics, but
have heard talk of a couple projects being approached by different
developers. So I'd expect this Arts plaza is just a start of a couple
more projects that may be announced in the near future.


Loose design possibilities for the Hunt Tower (should be safe to disregard the overall brown hues as being dominant) :



Guessing this may more resemble some sort of final design, but, I wouldn't know de facto:
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  #323  
Old Posted Apr 30, 2005, 3:47 PM
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Re: Park Lane Place TOD that owlhorn mentioned a few posts back.

Here's a website:
http://www.parklaneplacedallas.com/

Spring 2007ish.
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  #324  
Old Posted Apr 30, 2005, 3:47 PM
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Re: Park Lane Place TOD that owlhorn mentioned a few posts back.

Here's a website:
http://www.parklaneplacedallas.com/

Spring 2007ish.
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  #325  
Old Posted Apr 30, 2005, 4:03 PM
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Something more along the lines of fun and cool.

This is a photo of a conversion in progress. The 1217 Main St. Bldg. The rooftop
will be a large garden and the building is supposed to have a lot of external and
internal water features - including a possibility for a waterwall from the top floor
to the sidewalk.

The whole buildling (every floor will be occupiable by patrons; including that
garden rooftop which alone is supposed to be able to accomodate 150 patrons)
is being converted into "The Cascades Restaurant."

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  #326  
Old Posted Apr 30, 2005, 4:03 PM
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Something more along the lines of fun and cool.

This is a photo of a conversion in progress. The 1217 Main St. Bldg. The rooftop
will be a large garden and the building is supposed to have a lot of external and
internal water features - including a possibility for a waterwall from the top floor
to the sidewalk.

The whole buildling (every floor will be occupiable by patrons; including that
garden rooftop which alone is supposed to be able to accomodate 150 patrons)
is being converted into "The Cascades Restaurant."

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  #327  
Old Posted Apr 30, 2005, 4:10 PM
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New high-rise hotel/res. tower proposed in Turtle Creek - old proposed Sofitel site

Hotel high-rise planned
Turtle Creek project near Mansion to have residential spaces
11:37 PM CDT on Wednesday, April 27, 2005
http://www.dallasnews.com/sharedcont....53ea3f11.html
By STEVE BROWN / The Dallas Morning News

A California hotel developer is planning a high-rise residential and hotel building on a Turtle Creek site between The Mansion on Turtle Creek and the Crescent Court Hotel.
Staff graphic

Foch Investments bought the vacant site this week from Sofitel, a division of hotelier Accor SA, which has owned it since 1999. The more than 2-acre tract at Cedar Springs Road and Turtle Creek faces the Katy Trail.

"We are looking at developing a boutique hotel with a condominium component," said Foch Investments partner David Thurman. He said the company is talking to a boutique hotel group that's "nationally known."

Mr. Thurman said Foch Investments, which is also working on projects in California, Las Vegas and Europe, will spend 60 to 120 days on plans for the project before making a more detailed announcement. The company has hired architects BOKA Powell to plan the building.

Foch Investments was one of several potential buyers, and all were considering high-rise developments, said broker Newt Walker, who negotiated the sale.

"This market in the last four months down there has gotten condo fever," he said. "Prime sites like this have a lot of people looking at them."


_____________________________________________________

The image below is just to show where the site is in
Turtle Creek. The building in the rendering is the old
Sofitel Hotel proposal for the site and not the current
project.

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  #328  
Old Posted Apr 30, 2005, 4:10 PM
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New high-rise hotel/res. tower proposed in Turtle Creek - old proposed Sofitel site

Hotel high-rise planned
Turtle Creek project near Mansion to have residential spaces
11:37 PM CDT on Wednesday, April 27, 2005
http://www.dallasnews.com/sharedcont....53ea3f11.html
By STEVE BROWN / The Dallas Morning News

A California hotel developer is planning a high-rise residential and hotel building on a Turtle Creek site between The Mansion on Turtle Creek and the Crescent Court Hotel.
Staff graphic

Foch Investments bought the vacant site this week from Sofitel, a division of hotelier Accor SA, which has owned it since 1999. The more than 2-acre tract at Cedar Springs Road and Turtle Creek faces the Katy Trail.

"We are looking at developing a boutique hotel with a condominium component," said Foch Investments partner David Thurman. He said the company is talking to a boutique hotel group that's "nationally known."

Mr. Thurman said Foch Investments, which is also working on projects in California, Las Vegas and Europe, will spend 60 to 120 days on plans for the project before making a more detailed announcement. The company has hired architects BOKA Powell to plan the building.

Foch Investments was one of several potential buyers, and all were considering high-rise developments, said broker Newt Walker, who negotiated the sale.

"This market in the last four months down there has gotten condo fever," he said. "Prime sites like this have a lot of people looking at them."


_____________________________________________________

The image below is just to show where the site is in
Turtle Creek. The building in the rendering is the old
Sofitel Hotel proposal for the site and not the current
project.

__________________
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  #329  
Old Posted May 1, 2005, 3:09 AM
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the skyline in the picture is disturbing..........its for the holocaustcenter too
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  #330  
Old Posted May 1, 2005, 3:09 AM
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the skyline in the picture is disturbing..........its for the holocaustcenter too
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  #331  
Old Posted May 2, 2005, 3:42 AM
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^proof that the colors and shapes some call tacky are actually very classy. Or maybe we're just so used to the green, the Xs, the stripes, etc
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  #332  
Old Posted May 2, 2005, 3:42 AM
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^proof that the colors and shapes some call tacky are actually very classy. Or maybe we're just so used to the green, the Xs, the stripes, etc
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  #333  
Old Posted May 8, 2005, 12:37 AM
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A LOT RIDING ON AIRPORT TRAIN
The speedier Skylink may pull in more connecting fliers - and D/FW revenue

06:40 PM CDT on Saturday, May 7, 2005
By SUZANNE MARTA / The Dallas Morning News

When Dallas/Fort Worth International Airport's new Skylink opens later this month, passengers will trade a plodding, jerky trip on the airport's 31-year-old train for a fast, sleek ride with a view.

Dallas/Fort Worth International Airport's Skylink will begin carrying passengers from terminal to terminal on May 21. It will be the world's largest airport train. But airport officials are counting on the $880 million project for a lot more than that. Opening to passengers on May 21, Skylink seeks to address one of D/FW's critical flaws. Although the airport's sprawling layout makes it easier for pilots to park big jets, it can frustrate passengers rushing to make connecting flights. The automated Skylink – the world's largest airport train, with a fleet of 64 cars and a route nearly five miles long – will transport passengers between most terminals in about five minutes.

Skylink cars can travel in both directions, so the longest trip between D/FW's four existing terminals and a new international terminal will take just nine minutes.
"This solves the No. 1 customer service issue at D/FW," said Jeff Fegan, the airport's chief executive. Aviation consultant Mike Boyd said the new train transforms D/FW. "It's the equivalent of building a whole new airport with one terminal," he said. "Skylink really brings D/FW up to date."

Skylink could mean more passengers, air service and concessions revenue, and it may even change perceptions of the world's third-busiest airport, D/FW officials said.
Opened in 1974, D/FW isn't an old airport, but it was designed for a different era of air travel, when passengers pretty much got on planes at their home airports and got off the same planes at their destinations. After deregulation in 1978, leading airlines began to develop vast hub-and-spoke networks, which allowed them to serve midsize and smaller cities more efficiently. D/FW grew into a major hub. Today nearly two-thirds of passengers connect, rather than end their trips, at the airport.

Major carriers such as American Airlines Inc. also got a lot bigger, making transfers even more complex. When D/FW opened, "no one ever intended for any airline to be bigger than one terminal," Mr. Fegan said. Now American operates in terminals A, C and part of B. And soon, it will move its international flights into Terminal D, which opens in July.

Connecting passengers are critical to the North Texas economy because they attract direct air service that couldn't be supported by the local market alone.
But connections between carriers at D/FW's four horseshoe terminals can prove lengthy and frustrating for harried travelers, sometimes requiring a trip on a shuttle bus and an additional trip through security. "If you were connecting from San Antonio to Des Moines, you could literally have to walk a half mile," Mr. Boyd said. "As a connecting airport, D/FW was a disaster."

'A NIGHTMARE'

The current D/FW train, Airtrans, has been the bane of connecting travelers – and the butt of jokes – since it opened with the launch of the airport.

Skylink will transport passengers between most terminals in about five minutes.
Officials have jokingly called Airtrans "the little train that could," referring to the way it barely seems to have enough momentum to complete its winding route.
The original train operated several routes around the terminals on the public side of the airport. In 1991, American opened its TrAAin, which uses Airtrans cars and equipment and runs on the secure side of the airport through the carrier's operations in Terminals A, B and C. The loop goes in only one direction and takes 17 minutes to complete.

Until Skylink opens, the TrAAin is the only part of the original Airtrans system that continues to take passengers. The rest of Airtrans was closed to passengers in late 2003 and is used only by airport employees. Tonya Stringer, who travels weekly for her job as a district sales manager, is careful not to waste time when she connects at D/FW, especially when she has to switch terminals. Her strategy? "I just go fast and don't make any stops," she said as she boarded the TrAAin, connecting between flights from Kansas City, Mo., to her home in Little Rock, Ark. "I have 40 minutes between flights, and it will probably take me the full 40 minutes to get to my gate with this train," Ms. Stringer said. "Forget the bathroom, and forget getting food."

Ms. Stringer said she always asks her travel agent to allow an hour between flights at D/FW when possible to avoid missing a connection. "D/FW is great for local passengers," she said. "But for the person connecting, it's a nightmare."

A SHORTER PATH

D/FW has been aggressively marketing Skylink, holding focus groups about such details as selecting station and onboard music and even developing a "signature" chime when the train starts or stops. The goal is to get travelers comfortable with the train, said Joe Lopano, D/FW's executive vice president of marketing. "Once people trust that Skylink is going to move every two minutes, they'll feel more comfortable to go to another terminal to shop," Mr. Lopano said.

Initially, Skylink will be capable of carrying 5,000 people per hour in each direction, using two-car trains. Eventually, the system will accommodate four-car trains.
Each Skylink car can carry 60 people, compared with about 20 on the old train. And at about 35 miles per hour, Skylink is more than twice as fast. Like the TrAAin, Skylink runs on the air side of the terminal, meaning passengers can avoid a second trip through security.

Terminal navigation makes a big difference in airport customer satisfaction studies, said Linda Hirneise, a partner in J.D. Power and Associates' global travel practice.
"Anything to expedite the customer experience will have tremendous rewards in satisfaction," she said. At D/FW, "the walkways are so narrow, and the [passenger] carts are always honking at you to get out of the way," Ms. Hirneise said. "It can be very difficult to get around." With two train stations in each terminal, those marathon walks that wind through the concourse won't be necessary.

Travelers who are beginning or ending their trips at D/FW and check their luggage won't benefit from Skylink because they have to go outside the security gates. They'll still use the shuttle service to return to parking garages at different terminals. But Skylink will be useful for local travelers who bring only carry-on luggage. Road warriors will be able to choose the carrier with the best flight times for the departure and the trip back even if the terminals differ, said Tom Parsons, owner and fare watcher for Arlington-based Bestfares.com. "Before, if you flew out on Delta, you'd make sure you came back on Delta just so you didn't have to use that stupid train" to get back to your car, Mr. Parsons said. "Now you can fly Delta if that's the best time out, and fly American if that's the best time back."

Mr. Parsons agreed that the train's convenience could make D/FW more attractive as a connecting hub. "People might start connecting through Dallas instead of Chicago or Atlanta," he said. "That's where the real payoff comes." The new train also makes the airport easier to sell to new and existing airline tenants looking to expand but counting on quick connections for passengers. "In the airport world, you need size and flexibility," D/FW's Mr. Fegan said. "We had size; now with Skylink, we have flexibility."

Skylink's fast terminal connections factored heavily in a recent D/FW business pitch to Korean Air, which operates in Terminal B. Now if Korean Air passengers want to connect to flights on the carrier's interline partner Delta Air Lines Inc., they have to take a Terminal Link shuttle bus to Terminal E, which isn't served by the TrAAin.
With Skylink, "Korean Air can have as good of connections as American Airlines," Mr. Lopano said.

American chairman and chief executive Gerard Arpey described the train as "very fast and very convenient." "The train is the link that makes our connections work," he said at a recent event for international media. Efficient terminal navigation could translate into more business for American and other carriers whose passengers want to make quicker connections with international networks. "If it takes 10 hours and 30 minutes for an international trip that connects through D/FW and 12 hours if you connect through Chicago, that's a competitive advantage for us," Mr. Fegan said.

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  #334  
Old Posted May 8, 2005, 12:37 AM
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A LOT RIDING ON AIRPORT TRAIN
The speedier Skylink may pull in more connecting fliers - and D/FW revenue

06:40 PM CDT on Saturday, May 7, 2005
By SUZANNE MARTA / The Dallas Morning News

When Dallas/Fort Worth International Airport's new Skylink opens later this month, passengers will trade a plodding, jerky trip on the airport's 31-year-old train for a fast, sleek ride with a view.

Dallas/Fort Worth International Airport's Skylink will begin carrying passengers from terminal to terminal on May 21. It will be the world's largest airport train. But airport officials are counting on the $880 million project for a lot more than that. Opening to passengers on May 21, Skylink seeks to address one of D/FW's critical flaws. Although the airport's sprawling layout makes it easier for pilots to park big jets, it can frustrate passengers rushing to make connecting flights. The automated Skylink – the world's largest airport train, with a fleet of 64 cars and a route nearly five miles long – will transport passengers between most terminals in about five minutes.

Skylink cars can travel in both directions, so the longest trip between D/FW's four existing terminals and a new international terminal will take just nine minutes.
"This solves the No. 1 customer service issue at D/FW," said Jeff Fegan, the airport's chief executive. Aviation consultant Mike Boyd said the new train transforms D/FW. "It's the equivalent of building a whole new airport with one terminal," he said. "Skylink really brings D/FW up to date."

Skylink could mean more passengers, air service and concessions revenue, and it may even change perceptions of the world's third-busiest airport, D/FW officials said.
Opened in 1974, D/FW isn't an old airport, but it was designed for a different era of air travel, when passengers pretty much got on planes at their home airports and got off the same planes at their destinations. After deregulation in 1978, leading airlines began to develop vast hub-and-spoke networks, which allowed them to serve midsize and smaller cities more efficiently. D/FW grew into a major hub. Today nearly two-thirds of passengers connect, rather than end their trips, at the airport.

Major carriers such as American Airlines Inc. also got a lot bigger, making transfers even more complex. When D/FW opened, "no one ever intended for any airline to be bigger than one terminal," Mr. Fegan said. Now American operates in terminals A, C and part of B. And soon, it will move its international flights into Terminal D, which opens in July.

Connecting passengers are critical to the North Texas economy because they attract direct air service that couldn't be supported by the local market alone.
But connections between carriers at D/FW's four horseshoe terminals can prove lengthy and frustrating for harried travelers, sometimes requiring a trip on a shuttle bus and an additional trip through security. "If you were connecting from San Antonio to Des Moines, you could literally have to walk a half mile," Mr. Boyd said. "As a connecting airport, D/FW was a disaster."

'A NIGHTMARE'

The current D/FW train, Airtrans, has been the bane of connecting travelers – and the butt of jokes – since it opened with the launch of the airport.

Skylink will transport passengers between most terminals in about five minutes.
Officials have jokingly called Airtrans "the little train that could," referring to the way it barely seems to have enough momentum to complete its winding route.
The original train operated several routes around the terminals on the public side of the airport. In 1991, American opened its TrAAin, which uses Airtrans cars and equipment and runs on the secure side of the airport through the carrier's operations in Terminals A, B and C. The loop goes in only one direction and takes 17 minutes to complete.

Until Skylink opens, the TrAAin is the only part of the original Airtrans system that continues to take passengers. The rest of Airtrans was closed to passengers in late 2003 and is used only by airport employees. Tonya Stringer, who travels weekly for her job as a district sales manager, is careful not to waste time when she connects at D/FW, especially when she has to switch terminals. Her strategy? "I just go fast and don't make any stops," she said as she boarded the TrAAin, connecting between flights from Kansas City, Mo., to her home in Little Rock, Ark. "I have 40 minutes between flights, and it will probably take me the full 40 minutes to get to my gate with this train," Ms. Stringer said. "Forget the bathroom, and forget getting food."

Ms. Stringer said she always asks her travel agent to allow an hour between flights at D/FW when possible to avoid missing a connection. "D/FW is great for local passengers," she said. "But for the person connecting, it's a nightmare."

A SHORTER PATH

D/FW has been aggressively marketing Skylink, holding focus groups about such details as selecting station and onboard music and even developing a "signature" chime when the train starts or stops. The goal is to get travelers comfortable with the train, said Joe Lopano, D/FW's executive vice president of marketing. "Once people trust that Skylink is going to move every two minutes, they'll feel more comfortable to go to another terminal to shop," Mr. Lopano said.

Initially, Skylink will be capable of carrying 5,000 people per hour in each direction, using two-car trains. Eventually, the system will accommodate four-car trains.
Each Skylink car can carry 60 people, compared with about 20 on the old train. And at about 35 miles per hour, Skylink is more than twice as fast. Like the TrAAin, Skylink runs on the air side of the terminal, meaning passengers can avoid a second trip through security.

Terminal navigation makes a big difference in airport customer satisfaction studies, said Linda Hirneise, a partner in J.D. Power and Associates' global travel practice.
"Anything to expedite the customer experience will have tremendous rewards in satisfaction," she said. At D/FW, "the walkways are so narrow, and the [passenger] carts are always honking at you to get out of the way," Ms. Hirneise said. "It can be very difficult to get around." With two train stations in each terminal, those marathon walks that wind through the concourse won't be necessary.

Travelers who are beginning or ending their trips at D/FW and check their luggage won't benefit from Skylink because they have to go outside the security gates. They'll still use the shuttle service to return to parking garages at different terminals. But Skylink will be useful for local travelers who bring only carry-on luggage. Road warriors will be able to choose the carrier with the best flight times for the departure and the trip back even if the terminals differ, said Tom Parsons, owner and fare watcher for Arlington-based Bestfares.com. "Before, if you flew out on Delta, you'd make sure you came back on Delta just so you didn't have to use that stupid train" to get back to your car, Mr. Parsons said. "Now you can fly Delta if that's the best time out, and fly American if that's the best time back."

Mr. Parsons agreed that the train's convenience could make D/FW more attractive as a connecting hub. "People might start connecting through Dallas instead of Chicago or Atlanta," he said. "That's where the real payoff comes." The new train also makes the airport easier to sell to new and existing airline tenants looking to expand but counting on quick connections for passengers. "In the airport world, you need size and flexibility," D/FW's Mr. Fegan said. "We had size; now with Skylink, we have flexibility."

Skylink's fast terminal connections factored heavily in a recent D/FW business pitch to Korean Air, which operates in Terminal B. Now if Korean Air passengers want to connect to flights on the carrier's interline partner Delta Air Lines Inc., they have to take a Terminal Link shuttle bus to Terminal E, which isn't served by the TrAAin.
With Skylink, "Korean Air can have as good of connections as American Airlines," Mr. Lopano said.

American chairman and chief executive Gerard Arpey described the train as "very fast and very convenient." "The train is the link that makes our connections work," he said at a recent event for international media. Efficient terminal navigation could translate into more business for American and other carriers whose passengers want to make quicker connections with international networks. "If it takes 10 hours and 30 minutes for an international trip that connects through D/FW and 12 hours if you connect through Chicago, that's a competitive advantage for us," Mr. Fegan said.

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  #335  
Old Posted May 8, 2005, 12:38 AM
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Series of Off-Market Sales Nets Full Block for 227-Unit Mid-Rise
By Connie Gore
Last updated: May 6, 2005 10:27am





DALLAS-After a year of priming the land, Alliance Communities has gotten its hands on a full block in Oak Lawn to bring its Broadstone brand to North Texas. The three-acre block, bought in six back-to-back off-market deals, is being platted for a mid-rise development with 227 rental units.



Five land sales and one property exchange from four sellers have closed in the past two weeks. The last deed flipped two days ago: the 113-unit Reagan Plaza at 2602 Reagan St. The land assembly has cost the developer "north of $4 million," Armand Charbonneau, vice president in Dallas for the Houston-based Transwestern Commercial Services Inc., tells GlobeSt.com. "The seller got significantly more than it's worth as apartments yet the buyer got development land for significantly less than they would have had to pay in that area." The last seller was Oakwood Properties of Dallas, which bought the class C apartment building in 1998.



Nicholas Chapman, an Alliance Communities' development partner in Texas, says construction will start in mid-June on the four-story Broadstone Oak Lawn project and wrap up in September 2006. According to Charbonneau, the developer has retained Steinberg Design Collaborative LLP of Houston to craft the high-end development. "There will be a dramatic increase in prices in that area of Oak Lawn when this project goes up," he predicts. Based on other Broadstone projects, the development tab most likely will exceed $25 million.



Alliance brought the Broadstone brand to Texas about three years ago, starting with the 223-unit Uptown Lofts at 3363 McCue Rd. in Houston. Since then, Houston has landed two more Broadstones and one's on the way in nearby Sugar Land while San Antonio's north central submarket has two developments by the Texas affiliate of the Phoenix-based Alliance Residential Co. Uptown Lofts, which is about the same size as the mid-rise planned for Oak Lawn, has one- and two-bedroom units, ranging from 659 sf to 1,200 sf and rents of $975 to $1,540 per month. Alliance owns one multifamily asset in Dallas, but it's not a Broadstone brand.



Charbonneau says the next move is to start clearing the land. Reagan Plaza and two single-family houses will come down in a few days to make way for the mid-rise and parking garage. The block is bordered by Reagan, Shelby, Brown and Fairmount streets.



Charbonneau and partner, Mark Freeman, started to quietly court developers in May 2004 with Oakwood's apartment building. "The only way to get the price this owner wanted was to go after developers," Charbonneau says. Alliance, though, needed more than one tract. "That was a big coup to get a whole block," he says, adding others tried to get in on the play as the plan took shape. "Everyone wanted to get a piece of that."
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  #336  
Old Posted May 8, 2005, 12:38 AM
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Series of Off-Market Sales Nets Full Block for 227-Unit Mid-Rise
By Connie Gore
Last updated: May 6, 2005 10:27am





DALLAS-After a year of priming the land, Alliance Communities has gotten its hands on a full block in Oak Lawn to bring its Broadstone brand to North Texas. The three-acre block, bought in six back-to-back off-market deals, is being platted for a mid-rise development with 227 rental units.



Five land sales and one property exchange from four sellers have closed in the past two weeks. The last deed flipped two days ago: the 113-unit Reagan Plaza at 2602 Reagan St. The land assembly has cost the developer "north of $4 million," Armand Charbonneau, vice president in Dallas for the Houston-based Transwestern Commercial Services Inc., tells GlobeSt.com. "The seller got significantly more than it's worth as apartments yet the buyer got development land for significantly less than they would have had to pay in that area." The last seller was Oakwood Properties of Dallas, which bought the class C apartment building in 1998.



Nicholas Chapman, an Alliance Communities' development partner in Texas, says construction will start in mid-June on the four-story Broadstone Oak Lawn project and wrap up in September 2006. According to Charbonneau, the developer has retained Steinberg Design Collaborative LLP of Houston to craft the high-end development. "There will be a dramatic increase in prices in that area of Oak Lawn when this project goes up," he predicts. Based on other Broadstone projects, the development tab most likely will exceed $25 million.



Alliance brought the Broadstone brand to Texas about three years ago, starting with the 223-unit Uptown Lofts at 3363 McCue Rd. in Houston. Since then, Houston has landed two more Broadstones and one's on the way in nearby Sugar Land while San Antonio's north central submarket has two developments by the Texas affiliate of the Phoenix-based Alliance Residential Co. Uptown Lofts, which is about the same size as the mid-rise planned for Oak Lawn, has one- and two-bedroom units, ranging from 659 sf to 1,200 sf and rents of $975 to $1,540 per month. Alliance owns one multifamily asset in Dallas, but it's not a Broadstone brand.



Charbonneau says the next move is to start clearing the land. Reagan Plaza and two single-family houses will come down in a few days to make way for the mid-rise and parking garage. The block is bordered by Reagan, Shelby, Brown and Fairmount streets.



Charbonneau and partner, Mark Freeman, started to quietly court developers in May 2004 with Oakwood's apartment building. "The only way to get the price this owner wanted was to go after developers," Charbonneau says. Alliance, though, needed more than one tract. "That was a big coup to get a whole block," he says, adding others tried to get in on the play as the plan took shape. "Everyone wanted to get a piece of that."
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  #337  
Old Posted May 8, 2005, 12:40 AM
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Cascades restaurant update
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Old Posted May 8, 2005, 12:40 AM
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Cascades restaurant update
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Old Posted May 8, 2005, 12:42 AM
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new crane up at the West Village for the new 5-story mixed-use on the Borders/Chase Bank block

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Old Posted May 8, 2005, 12:42 AM
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new crane up at the West Village for the new 5-story mixed-use on the Borders/Chase Bank block

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