Transwestern Flier Irks Some Nearby Residents With Rezoning Claims
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A resident within Preston Hollow East Homeowners Association received a flier from Transwestern and Dodd Communications and sent it our way. Some homeowners are saying that the flier is misleading, claiming that the rezoning was already in the bag:
SOMEONE THOUGHT THAT SARAH DODD’S BROCHURE INDICATED THAT THE REZONING WAS ALREADY DONE, AND AS I RE-READ, I COULD SEE THAT THE WORDING WAS MEANT TO MISLEAD AND TO DISPIRIT US. ON THE BACK PAGE, FIRST PARAGRAPH, SARAH STATES,”ANY ZONING CHANGES WE REQUEST WILL BE FOR A SMALL INCREASE IN DENSITY…” THAT IS TRULY UNDERSTATING THE MAGNITUDE OF GOING FROM 55 TO 600 RESIDENTS ON THOSE THREE ACRES.
Here’s what the brochure says on the back page:
Do you need a zoning change to redevelop this property?
No, the property is already zoned for apartment development and decades old apartment homes and townhomes currently sit on the property. Any zoning changes we request will be for a small increase in density to allow us to include more amenities in this project like underground parking and extensive landscaping.
As we’ve previously reported yes, the property planned for redevelopment does require rezoning to accommodate the 225-ish units they are proposing BUT the area is already zoned for approximately 120 apartments:
… the property’s current zoning allows for just 130 units. Right now there are 24 apartments and 12 condos on the site of the proposed development. So the re-zoning proposal would still add more than six times the existing units. That could mean a lot more traffic in the area, something to which neighbors are vigorously opposed.
The flier is accurate in claiming that under current zoning restrictions, the developer could build a larger complex than what currently exists, but in order to build their proposed development, they do need to re-zone the parcel. You can read the whole flier below:
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Yes this flyer is misleading. However, the entire city of Dallas is becoming denser every day as the population grows. The developers ( and the city ) are looking for the highest and best use of the land. The city folks are looking at generating more tax dollars. This development is going to happen. It's just a question of the details.
Yes this flyer is misleading. However, the entire city of Dallas is becoming denser every day as the population grows. The developers ( and the city ) are looking for the highest and best use of the land. The city folks are looking at generating more tax dollars. This development is going to happen. It's just a question of the details.
I actually did not find the brochure misleading. It was sent to me while I was at Luxury Portfolio in Vegas. Lydia, you are right. The City needs more tax dollars so we can pay for all the dumb lawsuits mis-management has gotten us into!
I actually did not find the brochure misleading. It was sent to me while I was at Luxury Portfolio in Vegas. Lydia, you are right. The City needs more tax dollars so we can pay for all the dumb lawsuits mis-management has gotten us into!
Candy, I have known you and followed your quality residential real estate reporting for many years. I want to thank you for your slick, fair and balanced reporting of this important story.
As a 35-year real estate man with a 53-year familial history of tenancy and ownership behind “ The Pink Wall”, I have a lot to share. I remember well the glory days of the “Pink Wall” when living there was as good as is got. The Garden apartments built there from 1955 to 1964 were the finest, largest and most luxurious in the city. In fact, the 50 acres zoned for multi family in 1955 was unique not only in Dallas, but also in the Nation. The product built during those years was totally new to post war Americans who wanted to rent spaces that compared to or were larger than the average single family home of the day. The original rents were the highest in the city and those who lived there paid a premium well above the cost of a home mortgage. When the properties were converted condominium in the 1970’s, they demanded prices higher than similarly sized single family homes in close proximity.
That was then, and this is now, all of the neighborhoods that surround the iconic 50 acres have been undergoing massive redevelopment for the past 30 years. Along with that redevelopment has come a huge increase in property value. While all around continue to be renewed, most properties behind the Pink Wall are as they have always been but most are showing the effects of time and the values are 2 to 5 times less. Had this neighborhood stayed and apartment community, all of the buildings would have been replaced many years ago. The condo craze of the 1970’s is what gave the Pink Wall properties their longevity but it also is the reason that many of the properties are in distress today. Over the years, the owners became elderly and averse to making the investment needed to keep the properties in top condition. Today the age demographics have changed and the elderly represent a much smaller percentage of the owners. With that being said, most of the condo communities are constantly struggling to replace instead of patch, to keep the monthly dues low and still have enough money in the bank to make critical repairs in a timely fashion.
As the Transwestern mailer states, this property will be redeveloped, some now and some later. There is no reason for Pink Wall owners to be alarmed or concerned about redevelopment if it is properly conceived and built. At the price developers are willing to pay for the opportunity, the product will be the finest in the city once again and those who own property today will be rewarded with a huge increase in the value of their well-aged homes.
Having owned property behind the Pink Wall for almost 20 years and now living there for almost 4 years, I have always recognized the upside potential. As an active dealmaker in the real estate community, I have spent a fair amount of time learning the ins and outs of the Pink Wall community and know of several condominium associations who also are considering the viability of selling to developers.
For those Pink Wall owners who think that the automatic answer to redevelopment is “No”, I think they are shooting themselves in the foot, for there is nothing but upside ahead. For the neighborhood north of the Pink Wall, other than the first couple of streets, I don’t see that they have any standing in the decision. Realistically what happens behind the Pink Wall will be good for them as well. The 50 acres behind the Pink Wall is probably the most undervalued in the city as the 1100 homes within have a total taxable value just over 100 million. With a great plan and look towards the future that 50 acres will some day be worth more than a Billion in tax value and give our great city and county the monies needed to make the intersection of Preston and Northwest Highway a functional thing of beauty that brings the Park Cites and Preston Hollow together instead of a nightmare that separates.
Dallas would not be the great city it is if its people had a history of saying “No”, it is a great city because its people have always started with “Why Not”.
Candy, I have known you and followed your quality residential real estate reporting for many years. I want to thank you for your slick, fair and balanced reporting of this important story.
As a 35-year real estate man with a 53-year familial history of tenancy and ownership behind “ The Pink Wall”, I have a lot to share. I remember well the glory days of the “Pink Wall” when living there was as good as is got. The Garden apartments built there from 1955 to 1964 were the finest, largest and most luxurious in the city. In fact, the 50 acres zoned for multi family in 1955 was unique not only in Dallas, but also in the Nation. The product built during those years was totally new to post war Americans who wanted to rent spaces that compared to or were larger than the average single family home of the day. The original rents were the highest in the city and those who lived there paid a premium well above the cost of a home mortgage. When the properties were converted condominium in the 1970’s, they demanded prices higher than similarly sized single family homes in close proximity.
That was then, and this is now, all of the neighborhoods that surround the iconic 50 acres have been undergoing massive redevelopment for the past 30 years. Along with that redevelopment has come a huge increase in property value. While all around continue to be renewed, most properties behind the Pink Wall are as they have always been but most are showing the effects of time and the values are 2 to 5 times less. Had this neighborhood stayed and apartment community, all of the buildings would have been replaced many years ago. The condo craze of the 1970’s is what gave the Pink Wall properties their longevity but it also is the reason that many of the properties are in distress today. Over the years, the owners became elderly and averse to making the investment needed to keep the properties in top condition. Today the age demographics have changed and the elderly represent a much smaller percentage of the owners. With that being said, most of the condo communities are constantly struggling to replace instead of patch, to keep the monthly dues low and still have enough money in the bank to make critical repairs in a timely fashion.
As the Transwestern mailer states, this property will be redeveloped, some now and some later. There is no reason for Pink Wall owners to be alarmed or concerned about redevelopment if it is properly conceived and built. At the price developers are willing to pay for the opportunity, the product will be the finest in the city once again and those who own property today will be rewarded with a huge increase in the value of their well-aged homes.
Having owned property behind the Pink Wall for almost 20 years and now living there for almost 4 years, I have always recognized the upside potential. As an active dealmaker in the real estate community, I have spent a fair amount of time learning the ins and outs of the Pink Wall community and know of several condominium associations who also are considering the viability of selling to developers.
For those Pink Wall owners who think that the automatic answer to redevelopment is “No”, I think they are shooting themselves in the foot, for there is nothing but upside ahead. For the neighborhood north of the Pink Wall, other than the first couple of streets, I don’t see that they have any standing in the decision. Realistically what happens behind the Pink Wall will be good for them as well. The 50 acres behind the Pink Wall is probably the most undervalued in the city as the 1100 homes within have a total taxable value just over 100 million. With a great plan and look towards the future that 50 acres will some day be worth more than a Billion in tax value and give our great city and county the monies needed to make the intersection of Preston and Northwest Highway a functional thing of beauty that brings the Park Cites and Preston Hollow together instead of a nightmare that separates.
Dallas would not be the great city it is if its people had a history of saying “No”, it is a great city because its people have always started with “Why Not”.
Candy, I have known you and followed your quality residential real estate reporting for many years. I want to thank you for your slick, fair and balanced reporting of this important story.
As a 35-year real estate man with a 53-year familial history of tenancy and ownership behind “ The Pink Wall”, I have a lot to share. I remember well the glory days of the “Pink Wall” when living there was as good as is got. The Garden apartments built there from 1955 to 1964 were the finest, largest and most luxurious in the city. In fact, the 50 acres zoned for multi family in 1955 was unique not only in Dallas, but also in the Nation. The product built during those years was totally new to post war Americans who wanted to rent spaces that compared to or were larger than the average single family home of the day. The original rents were the highest in the city and those who lived there paid a premium well above the cost of a home mortgage. When the properties were converted condominium in the 1970’s, they demanded prices higher than similarly sized single family homes in close proximity.
That was then, and this is now, all of the neighborhoods that surround the iconic 50 acres have been undergoing massive redevelopment for the past 30 years. Along with that redevelopment has come a huge increase in property value. While all around continue to be renewed, most properties behind the Pink Wall are as they have always been but most are showing the effects of time and the values are 2 to 5 times less. Had this neighborhood stayed and apartment community, all of the buildings would have been replaced many years ago. The condo craze of the 1970’s is what gave the Pink Wall properties their longevity but it also is the reason that many of the properties are in distress today. Over the years, the owners became elderly and averse to making the investment needed to keep the properties in top condition. Today the age demographics have changed and the elderly represent a much smaller percentage of the owners. With that being said, most of the condo communities are constantly struggling to replace instead of patch, to keep the monthly dues low and still have enough money in the bank to make critical repairs in a timely fashion.
As the Transwestern mailer states, this property will be redeveloped, some now and some later. There is no reason for Pink Wall owners to be alarmed or concerned about redevelopment if it is properly conceived and built. At the price developers are willing to pay for the opportunity, the product will be the finest in the city once again and those who own property today will be rewarded with a huge increase in the value of their well-aged homes.
Having owned property behind the Pink Wall for almost 20 years and now living there for almost 4 years, I have always recognized the upside potential. As an active dealmaker in the real estate community, I have spent a fair amount of time learning the ins and outs of the Pink Wall community and know of several condominium associations who also are considering the viability of selling to developers.
For those Pink Wall owners who think that the automatic answer to redevelopment is “No”, I think they are shooting themselves in the foot, for there is nothing but upside ahead. For the neighborhood north of the Pink Wall, other than the first couple of streets, I don’t see that they have any standing in the decision. Realistically what happens behind the Pink Wall will be good for them as well. The 50 acres behind the Pink Wall is probably the most undervalued in the city as the 1100 homes within have a total taxable value just over 100 million. With a great plan and look towards the future that 50 acres will some day be worth more than a Billion in tax value and give our great city and county the monies needed to make the intersection of Preston and Northwest Highway a functional thing of beauty that brings the Park Cites and Preston Hollow together instead of a nightmare that separates.
Dallas would not be the great city it is if its people had a history of saying “No”, it is a great city because its people have always started with “Why Not”.
Candy, I have known you and followed your quality residential real estate reporting for many years. I want to thank you for your slick, fair and balanced reporting of this important story.
As a 35-year real estate man with a 53-year familial history of tenancy and ownership behind “ The Pink Wall”, I have a lot to share. I remember well the glory days of the “Pink Wall” when living there was as good as is got. The Garden apartments built there from 1955 to 1964 were the finest, largest and most luxurious in the city. In fact, the 50 acres zoned for multi family in 1955 was unique not only in Dallas, but also in the Nation. The product built during those years was totally new to post war Americans who wanted to rent spaces that compared to or were larger than the average single family home of the day. The original rents were the highest in the city and those who lived there paid a premium well above the cost of a home mortgage. When the properties were converted condominium in the 1970’s, they demanded prices higher than similarly sized single family homes in close proximity.
That was then, and this is now, all of the neighborhoods that surround the iconic 50 acres have been undergoing massive redevelopment for the past 30 years. Along with that redevelopment has come a huge increase in property value. While all around continue to be renewed, most properties behind the Pink Wall are as they have always been but most are showing the effects of time and the values are 2 to 5 times less. Had this neighborhood stayed and apartment community, all of the buildings would have been replaced many years ago. The condo craze of the 1970’s is what gave the Pink Wall properties their longevity but it also is the reason that many of the properties are in distress today. Over the years, the owners became elderly and averse to making the investment needed to keep the properties in top condition. Today the age demographics have changed and the elderly represent a much smaller percentage of the owners. With that being said, most of the condo communities are constantly struggling to replace instead of patch, to keep the monthly dues low and still have enough money in the bank to make critical repairs in a timely fashion.
As the Transwestern mailer states, this property will be redeveloped, some now and some later. There is no reason for Pink Wall owners to be alarmed or concerned about redevelopment if it is properly conceived and built. At the price developers are willing to pay for the opportunity, the product will be the finest in the city once again and those who own property today will be rewarded with a huge increase in the value of their well-aged homes.
Having owned property behind the Pink Wall for almost 20 years and now living there for almost 4 years, I have always recognized the upside potential. As an active dealmaker in the real estate community, I have spent a fair amount of time learning the ins and outs of the Pink Wall community and know of several condominium associations who also are considering the viability of selling to developers.
For those Pink Wall owners who think that the automatic answer to redevelopment is “No”, I think they are shooting themselves in the foot, for there is nothing but upside ahead. For the neighborhood north of the Pink Wall, other than the first couple of streets, I don’t see that they have any standing in the decision. Realistically what happens behind the Pink Wall will be good for them as well. The 50 acres behind the Pink Wall is probably the most undervalued in the city as the 1100 homes within have a total taxable value just over 100 million. With a great plan and look towards the future that 50 acres will some day be worth more than a Billion in tax value and give our great city and county the monies needed to make the intersection of Preston and Northwest Highway a functional thing of beauty that brings the Park Cites and Preston Hollow together instead of a nightmare that separates.
Dallas would not be the great city it is if its people had a history of saying “No”, it is a great city because its people have always started with “Why Not”.