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Old Posted May 13, 2016, 4:33 AM
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Sic'EmBears Sic'EmBears is offline
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Location: Dallas
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From Candy's Dirt:

This stretch of Fitzhugh between Central and Ross is where Carl and Chris Anderson of Larkspur Capital Partners are seeking city approval to re-zone for a first of it’s kind condo flats project they believe will fit the bill perfectly for young buyers.

The project is at 5209 Capitol Avenue, directly behind the Capitol Pub on Henderson. The name: Capitol Flats.
To that end, Carl and his brother, Chris, who founded Larkspur Capital in 2013, are hoping to deliver a $400,000 to $500,000 product, the first of it’s kind in this neck of East Dallas: low to mid-rise contemporary condos constructed of expensive materials (marble, quartzite, white oak floors), lots of glass store front windows, and recessed balconies.
“It is designed to be a transitional property from the brick and cantilevered retail — as you go south on Capitol, the materials become softer with synthetic cladding and wood-looking exteriors, says Carl. “We designed something we think is a perfectly beautiful fit for the location.”

Most importantly, the Anderson brothers, whom I have christened The Property Brothers, want this corridor to be completely pedestrian friendly and walkable. Their vision is to have Capitol Flats meld in with the huge new JLB Partners retail coming to the area.
“We need to get the zoning that allows one more story,” says Carl. “We are building 38 units with an average floor plan of 1500 square feet, what the market dictates. Under current zoning, which was written in 1988 before Central expanded, we could still build 38 units but they would be only 800 square foot condos. We’re putting the same number of humans in each unit, just double the size for the market.”

To get their square footage, Larkspur is asking to go higher and closer to the sidewalk: four stories instead of three, and to take side setbacks from 10 to 5 feet on the sidewalks. In exchange, they are creating underground parking and pedestrian amenities on the front such as seating and a public art court: Capitol Flats will square off 300 square feet as a public sculpture garden with rotating art as a crow pleaser.
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