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vjackson

Member Since 29 Jun 2004
Offline Last Active Jan 19 2011 03:11 PM
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Posts I've Made

In Topic: Villa DeLeon

30 November 2010 - 01:39 PM

[ High dollar condo/townhomes mixed with rentals can work, but the concept tends to work better in cities with really high density urban
neighborhoods.

The gamble here was if there is a market for such expensive condos in FW at all. In cities like you described, of course there's a market. In a city like Fort Worth (and Dallas) it's doubtful. At the prices VDL was asking, most buyers can not only afford a condo downtown, but they can also afford a single family home in Fort Worth's best urban neighborhoods, most of which are a stone's throw from DTFW. In this part of the country, where condo's are still a niche development, unless you get the right kind of buyer, at the right sale price, single-family homes usually win out. I love downtown living, but give me a million bucks and tell me to choose DTFW or Monticello, Mistletoe Heights, Westover, Park Hill, Berkley, Arlington Heights, etc., I know which one I would choose, especially when I could easily drive to DTFW whenever I wanted to.

Also, a very good point was made by eastfwther about VDL targeting the wrong buyer. I couldn't agree more. I know 4 people living in DTFW right now, 3 rent;1 owns. None of them work downtown, yet they all wanted to live there. Those who have rented have done so for years, and the one that owns a place in T&P rented for years also. Those are the possible buyers that would make the most sense to target. The buyer of the T&P unit purchased his place for around 160K if I remember correctly. One other person I know lived downtown for years too and ended up buying a home south of downtown in Fairmount. VDL was simply too ambitious and went after the wrong buyers,and I agree that even in a good economy, those units would not have sold at that price.

In Topic: Villa DeLeon

17 November 2010 - 03:25 PM

I am amazed at the number of people renting these days. Like the nice apartments (Townhouses included) along Samuels.

Maybe some of these renters would buy downtown, maybe even right down the street at VDL, if they were not expected to pay almost a million dollars for a condo. Sorry, but even in a good economy, VDL was greatly overpriced. The fact that none sold doesn't surprise me one bit.

In Topic: Villa DeLeon

15 November 2010 - 09:47 AM

According to the Star Telegram, VDL is leasing units. Not a single unit has sold.

http://www.star-tele...-more-real.html

In Topic: Villa DeLeon

23 September 2010 - 11:49 AM

My spouse walked by Villa De Leon this AM and passed by Mr. Struhs. She stopped, they exchanged pleasantries, and she asked him how things were going. He told her that VDL was for sale, not just the individual units, but the entire building. She thinks he was serious, but he didn't disclose a price. It's probably not the best time to be in the high-end condo business in Fort Worth.

Most of the problems with VDL have pretty much been covered in the last few posts, but
with some reconfiguring, this place would make a cool boutique hotel.

In Topic: TCC coming to Downtown

28 June 2010 - 06:43 AM

Jeez Louise!!! I've never wished for a fire so much in my life.