Big Is Back, II: If You Can’t Find A Big Enough Lot, Buy Three — Family Compound on Walnut Hill Lane
Share News:
5404 Main house, the Stephensons
More proof of what I was writing earlier: big is back when it comes to the uber rich building homes in Dallas real estate. And if you cannot find a lot big enough for your dream mansion, you just buy several and tear down whatever the hec is on them. Voila, dream compound Readers have been emailing me, asking me who is building what appears to be a compound of homes on Walnut Hill Lane, Old Preston Hollow, south side between Hollow Way and Meadowbrook.
“Is it a bunch of Arabs?” wrote one reader.
“Has Mitt Romney inspired polygamy already?” wrote another
5322: Daughter's home
At times, I’m told 50 to 60 trucks have been jamming Walnut Hill on construction.
5414 The guest house
Here’s the dirt: It’s Randall Stephenson, Chairman of the Board and Chief Executive Officer of AT&T, Inc. He bought the home in the middle, a spec home built by Mehrdad Moayedi’s Cresent Estates — Mehrdad is the guy who bought the Stoneleigh Residences, recall. Stephenson bought 5404 Walnut Hill, a 12,000 square foot residence from Crescent in 2009, and has been fixing it up a bit. Then he bought 5322, next door, in November of 2010, and built a 5,000 square foot home for his daughter and her young family, then bought 5414 last April and is building a small guest house there with two bedrooms and an exercise pavilion. Both end lots are a little under one acre, and Mr. Stephenson is a shrewd businessman: they all get a tax break for being on Walnut Hill Lane. But he’s constructing that beautiful stone wall to fence the whole compound in and muffle the noise from Walnut Hill, make it safe for kids and dogs to play.
The Compound
Best of all: the cell phone reception is damn good right there on Walnut Hill!
19 Comments
Leave a Comment
Hopefully the u-verse junction box is nearby for high speed bill payments also
critic, thanks for making laugh. Great comment!
Hopefully the u-verse junction box is nearby for high speed bill payments also
critic, thanks for making laugh. Great comment!
I've seen Time Warner cable trucks there a few times…
I've seen Time Warner cable trucks there a few times…
[…] I know when you think Preston Hollow, you think about all the estates lining Park Lane, about Randall Stephenson’s family fortress over on Walnut Hill Lane, and those 7800 square foot McMansions crammed onto the lots east of Preston. But this is the REAL […]
[…] I know when you think Preston Hollow, you think about all the estates lining Park Lane, about Randall Stephenson’s family fortress over on Walnut Hill Lane, and those 7800 square foot McMansions crammed onto the lots east of Preston. But this is the REAL […]
[…] Stephenson: He did get a $2 million pay cut, but that hasn’t stopped him from building a family compound up on Walnut Hill Lane, which I hear he is is even trying to enlarge. Hmmm maybe he bought Champ. Stephenson could […]
[…] Stephenson: He did get a $2 million pay cut, but that hasn’t stopped him from building a family compound up on Walnut Hill Lane, which I hear he is is even trying to enlarge. Hmmm maybe he bought Champ. Stephenson could […]
[…] have a side on Walnut Hill Lane which is actually convenient for garage entry. Not too far from Randall Stephenson’s family compound, either, so your AT&T cell service out to be great: maybe he’ll offer free Uverse as a Welcome […]
[…] have a side on Walnut Hill Lane which is actually convenient for garage entry. Not too far from Randall Stephenson’s family compound, either, so your AT&T cell service out to be great: maybe he’ll offer free Uverse as a Welcome […]
[…] all?) this one does have a side on Walnut Hill Lane which is actually convenient for garage entry. Not too far from Randall Stephenson’s family compound, either, so your ATT cell service out to be great: maybe he’ll offer free Uverse as a Welcome […]
[…] all?) this one does have a side on Walnut Hill Lane which is actually convenient for garage entry. Not too far from Randall Stephenson’s family compound, either, so your ATT cell service out to be great: maybe he’ll offer free Uverse as a Welcome […]
[…] grassy lawn for a softball game, and a Who’s Who list of neighbors: Mark Cuban down the road, Randall Stephenson and his compound up, and a host of wonderful peeps […]
[…] grassy lawn for a softball game, and a Who’s Who list of neighbors: Mark Cuban down the road, Randall Stephenson and his compound up, and a host of wonderful peeps […]
Stephenson’s “Über Wealth” has come on the backs of the rank and file at AT&T. The executive compensation of the AT&T leaders is part of the good ol boys process. CEO’s sit on boards and drive each others comp plans up to un-ethical levels. they even protect each other when big mistakes are made “i.e. failed T-mobile bid that cost the rest of AT&T $6B.
why is there a tax break for being on Walnut Hill?
Because it is a busy street. You get a tax break for busy streets.