Preston Hollow covers 546 acres and was established as a developing town in 1857. It wasn't until 1924 that 220 acres of the land was dedicated as Preston Hollow. Preston Hollow is named for the deeply wooded area that it's situated in. The neighborhood is filled with creeks and hollow trees that extends westward from Preston Road. Initially, Preston Hollow was its own town but in 1945, residents of Preston Hollow voted to connect the neighborhood with the city of Dallas. The Preston Hollow area is located off the Northwest Highway and Inwood. It is an oasis of homes and estates that are in close proximity to some of the most prestigious shopping centers in Dallas.
Preston Hollow is a neighborhood filled with the upper-class. It is one of the wealthiest areas in the state of Texas. Celebrities, athletes, CEO's, politicians, millionaires and wealthy professionals comprise the Preston Hollow neighborhood. Some of the most famous residents of Preston Hollow include billionaire investors Harold Simmons, T. Boone Pickens, former Dallas mayor Laura Miller and former presidential candidate Ross Perot. Even the cosmetics guru Mary Kay Ash once lived in the exquisite Preston Hollow neighborhood.
Home prices in the Preston Hollow area start from $800,000 and can exceed twenty million dollars for a large estate. The most expensive home in Preston Hollow is worth $40 million dollars and belongs to a CEO of a software company. The average income for residents in the Preston Hollow area is estimated at $258,000 per year. Many of the homes in Preston Hollow are located on several acres and have tennis courts, pools, and lavish landscaping. Even the apartments that are located in the area are styled in elegant French Chateau architecture and include luxury on-ground amenities. Preston Hollow has some of the most expensive homes in Texas and is the home of many of the nation's richest residents.
There are elite schools in the Preston Hollow neighborhood that offer quality education to the residents. The schools in the Preston Hollow district are some of the top rated in the state and the neighborhood is also in close proximity to Southern Methodist University.
The demographic that draws residents to Preston Hollow is the same demographic that brings their own architects to renovate or construct the home they purchase. The result of diverse architects working in the area gives each home its own individual character. Preston Hollow is full of architectural models from every decade. Homes styles from the 1950's to the present day can all be found in Preston Hollow - the neighborhood is a showcase of designs from all eras.
The beautiful architecture and history of places like Preston Hollow bring more residents to Dallas every year. Even the former president of the United States, George W. Bush declared in January 2009 that he would retire in Dallas and had purchased a two million dollar home in the Preston Hollow neighborhood. The prestige of the area is so famous that the president confirmed his move into the neighborhood before actually seeing the home.