18 replies to this topic

[JBB]

A new town house project in the Montgomery Plaza area. The bulk of the article seems to focus on Westview, but there is a little info on Presidio.

West side to get 20 town homes

CityHomes, the division of Dallas-based Centex Homes that builds trendy, urban town houses and condos, plans a 20-unit infill development of two- and three-story town houses on Carroll Street, just west of Montgomery Plaza on West Seventh Street, called Presidio.

[Fort Worthology]

It will be interesting to see a rendering. I heard something about this a while back, but wasn't sure when it would go public.

I do get the feeling that the Linwood neighborhood, as we know it now, is not long for this world.

[jmilam]

That must be the fenced empty parking lot/auto shop just south of the new church?

[Fort Worthology]

That must be the fenced empty parking lot/auto shop just south of the new church?

That is correct.

[jmilam]

That must be the fenced empty parking lot/auto shop just south of the new church?

That is correct.

That area is sure changing fast. Seems like there is news just about every week...I'm waiting for a Whole Foods Market...

[safly]

I heard he bought the property(s) adjacent to his pub, parking and all. Is this the same description?

$1.25 million on those two is a bit high for now.

[Fort Worthology]

Who loves ya, baby?

[Sam Stone]

Interesting. . . Looks like Santa Fe meets turn-of-the-century. A little busy but elevations have a way of looking like that. Can't wait to see more.

[PLS]

terra cotta roofs! here comes the spanish revival...

[Shocker]

Yawn. Just another cut and paste from some lame architectural file.

[vjackson]

Hopefully a better rendering will appear soon. That looks way too busy, bordering on tacky. ( The rendering is drawn, so I"m thinking it's very preliminary) Not surprising though. I've got some real issues with CityHomes.

[Fort Worthology]

That's just an early elevation. Not a full-on rendering.

I also have preliminary floor plans and such.

[pelligrini]

It looks a little busy in the linework elevation, but when it gets executed in actual materials I think it will look a whole lot different; especially if the same color brick is used for the banding and other details.

I'm not sure if it's a hand drawn elevation or a squiggled CAD file.

[hannerhan]

There's one element I really hate about this drawing: some awnings are supported from below (the traditional Spanish Revival style element), and some are supported from above (a much more modern, industrial style). To me that blows up the whole design. Pick one or the other...

[safly]

Looks like the play setting for Donkey Kong.

[safly]

I heard he bought the property(s) adjacent to his pub, parking and all. Is this the same description?

$1.25 million on those two is a bit high for now.

Yes, that’s the property. That price MIGHT BE high right now but if it is, it won’t be for long with all the value added improvements under construction. For me it’s difficult to equate dollars with real estate right now with the sinking dollar. Cash is trash in these times, much better off in real estate than in the bank or sending it to Fidelity Mutual. I think in Matt’s case it made even more sense since it was a 1031 exchange and he acquired more contiguous property. My point is that everything that has sold so far, that I’ve been privy to, has sold in the 25 to 50 dollars per square foot range. Residential lots in Monticello are being sold in that price range so is it so difficult to swallow that this commercial property, right in the heart of the cultural district would sell for this price? The remaining land in the cultural district is held by people who don’t need money, they know the day will come when their dirt is worth way more than what is selling for today, including what Matt paid. These people would like to wait five or ten years and sell for a better price. My question is will they be allowed to without a bunch of do-gooders who support private imminent domain?

Did he sell another bar with that 1031? If so, the guy can really move stuff and quickly. Heard rumors that it was bankrolled from Euro money, which makes sense regarding the weak dollar. You will start seeing more and more of that soon with Canadian, Latin American, Asian and European investors. Much like CA and NYC in the 70's and 80's. But in a much more affordable market right here in N.Texas.

[Fort Worthology]

This project is dead. City Homes is pulling out due to "competition from Montgomery Plaza and SoSeven."