We need more residential towers! (Dallas, Center: for sale, real estate, condo)

[Gamarabi]

Why do we have so many townhome style buldings being built in what are supposed to be urban areas? A five story building to me is NOT urban.

I would like to see a lot more residential towers outside of downtown/uptown.

Where would you like to see more residential high rises if any?

My preferred choices would be Royal Lane Station and Market Center Station.

Where would you like to see high density residential development?

Also, does anyone have any information on the high rise being built near the Azure in uptown?

[talkispoison]

High Rises are expensive to build and expensive to live in. I'd like to see more in West Dallas though. A five story building certainly is urban when surrounded by other buildings...even cities like NYC and Chicago are filled with them!

[TurtleCreek80]

Good point about NYC- even though people think of NYC as the land of skyscrapers, the vast majority of residential buildings there are 6 stories or smaller. This is true of the outer boroughs as well as the most desirable urban downtown neighborhoods like Manhattan's West and East Village, NoLIta, SoHo, Gramercy Park and Brooklyn Heights and DUMBO in Brooklyn. Many of the high rises in Harlem, downtown Manhattan (East Village & Lower East Side) and the non-Manhattan boroughs are city-run housing projects....not exactly the desirable kind of high rise living by any stretch!!

You don't need high rises to create an urban environment. You need a neighborhood with jobs, offices, housing, entertainment, public transit connecting to other job & entertainment districts, a variety of schools both public and private, everyday needs like grocery stores/ pharmacies/ inexpensive restaurants/ dry cleaners. Building a high rise on Royal Lane won't create any sort of "urban" living. The urban developments that have flopped the biggest in Dallas- Victory Park is the best example- configured themselves as too high end (even people who can afford to live at the W don't eat at Craft and Kenichi every night....and they probably would like to be able to buy groceries and toilet paper without driving, too!).

[lh_newbie]

gamarabi -

How much would you be willing to pay to live in such a high rise? It's all about economic feasibility. If you say you'd be willing to pay $150K for an 800 sq ft place, the numbers just wouldn't stand. Now if you (and a lot of others) are willing to pay $400K for an 800 sq ft place in a high rise, I'm sure you could get a project off the ground.

Brian

[fistofsouth]

Originally Posted by lh_newbie

gamarabi -

How much would you be willing to pay to live in such a high rise? It's all about economic feasibility. If you say you'd be willing to pay $150K for an 800 sq ft place, the numbers just wouldn't stand. Now if you (and a lot of others) are willing to pay $400K for an 800 sq ft place in a high rise, I'm sure you could get a project off the ground.

Brian

That's true. The market will always determine both price and location. Having said that you can get into a high-rise condo downtown for much less than $400K:

1200 Main Street Unit: 1001 Dallas TX - Home For Sale and Real Estate Listing - MLS #11623456 - Realtor.com®
Metropolitan, 10th Floor, 1551SF, $179,900

1505 Elm Street Unit: 1102 Dallas TX - Home For Sale and Real Estate Listing - MLS #11617764 - Realtor.com®
1505 Elm, 11th Floor, 1482SF, $199,000

You can get into a high-rise downtown for less than $200K easy and closer to $150K if you are willing to go with lower floors; it kind of defeats the purpose of high-rise living to live on the 3rd floor as far as I'm concerned, but to each his own. I have also seen small units on the 25th floor of 1505 Elm go for as little as $125K in the last year. Additionally if you are willing to live in a high-rise off of Northwest Highway or in Las Colinas you can also get low prices, but the walk-ability score and thus the true urban feel drops in those locations.

[TurtleCreek80]

Originally Posted by fistofsouth

That's true. The market will always determine both price and location. Having said that you can get into a high-rise condo downtown for much less than $400K:

1200 Main Street Unit: 1001 Dallas TX - Home For Sale and Real Estate Listing - MLS #11623456 - Realtor.com®
Metropolitan, 10th Floor, 1551SF, $179,900

1505 Elm Street Unit: 1102 Dallas TX - Home For Sale and Real Estate Listing - MLS #11617764 - Realtor.com®
1505 Elm, 11th Floor, 1482SF, $199,000

You can get into a high-rise downtown for less than $200K easy and closer to $150K if you are willing to go with lower floors; it kind of defeats the purpose
of high-rise living to live on the 3rd floor as far as I'm concerned, but to each his own. I have also seen small units on the 25th floor of 1505 Elm go for as little as $125K in the last year. Additionally if you are willing to live in a high-rise off of Northwest Highway or in Las Colinas you can also get low prices, but the walk-ability score and thus the true urban feel drops in those locations.

You're talking about existing properties that are decades old. To build new high rises from scratch (what OP wants to do), pricey commercial grade construction is going to come out closer to $300-400k per 1 br unit (800-1100sf). Just to put in a couple of elevators is easily $1-3M, then divide that out amongst 200-400 units and you can start to see how the price tags escalate.

[fabulous_nobody]

Originally Posted by Gamarabi

Also, does anyone have any information on the high rise being built near the Azure in uptown?

Are you referring to "Stoneleigh Residence"? the one inbetween Stoneleigh hotel and Azure? Not sure what happened to it.

I love my high rises living too. Museum tower is looking good!

[fabulous_nobody]

Originally Posted by TurtleCreek80

The urban developments that have flopped the biggest in Dallas- Victory Park is the best example- configured themselves as too high end (even people who can afford to live at the W don't eat at Craft and Kenichi every night....and they probably would like to be able to buy groceries and toilet paper without driving, too!).

So true! We checked out that area before we moved down to Dallas, liked the look of the couple of residence buildings, but not even a drug store or "7-11" within walking distance, let alone a grocery store; Dining options within walking distance is too limited, only high end like Craft or Kenichi or low end like Hooters or House of Blue. We scratched that area off our list pretty fast.

[Texan#1]

Originally Posted by fistofsouth

That's true. The market will always determine both price and location. Having said that you can get into a high-rise condo downtown for much less than $400K:

1200 Main Street Unit: 1001 Dallas TX - Home For Sale and Real Estate Listing - MLS #11623456 - Realtor.com®
Metropolitan, 10th Floor, 1551SF, $179,900

1505 Elm Street Unit: 1102 Dallas TX - Home For Sale and Real Estate Listing - MLS #11617764 - Realtor.com®
1505 Elm, 11th Floor, 1482SF, $199,000

You can get into a high-rise downtown for less than $200K easy and closer to $150K if you are willing to go with lower floors; it kind of defeats the purpose of high-rise living to live on the 3rd floor as far as I'm concerned, but to each his own. I have also seen small units on the 25th floor of 1505 Elm go for as little as $125K in the last year. Additionally if you are willing to live in a high-rise off of Northwest Highway or in Las Colinas you can also get low prices, but the walk-ability score and thus the true urban feel drops in those locations.

Whew what a beating... I used to live in that exact unit at the Metropolitan. The guy purchased it for $350k and put in a ton of upgrades.

[fistofsouth]

Originally Posted by TurtleCreek80

You're talking about existing properties that are decades old. To build new high rises from scratch (what OP wants to do), pricey commercial grade construction is going to come out closer to $300-400k per 1 br unit (800-1100sf). Just to put in a couple of elevators is easily $1-3M, then divide that out amongst 200-400 units and you can start to see how the price tags escalate.

Touche, correct you are.