Texas Real Estate Blog & Market News

Uptown Dallas wasn’t the most shining example of real estate health during the recession, that’s for sure, and no one had to look further than the Stoneleigh condos to see this. After its developers ran out of money in 2008, it just sat there, abandoned, a sorry looking reminder of the real estate debacle that rocked not only Dallas, but the majority of the country.

But the cranes started moving again just a few weeks ago at the Stoneleigh showing, once again, that Dallas – particularly, Uptown Dallas - is a great example of Dallas’ knack for being quite tenacious.

The Centurion American Development Group, which is in charge of the Stoneleigh project, expects the 75-floor condominium tower’s exterior to be completed within the next 12 months.  This development group has plans to simply finish the project that was stopped back in 2008.

But it’s not just Uptown’s Stoneleigh that has seen action as of late. Uptown Dallas is once again buzzing, and the signs of a healthy recovery are all around us. It is even expected that, given current land rates and building rents, that Uptown Dallas will soon be more valuable than downtown.

In addition to plenty of private-sector development projects in the works, public improvement is a clear indicator of the vitality of the Uptown Dallas area. Good examples include the expansion of the McKinney Avenue trolley line and the new Klyde Warren Park. The $110 million park, which runs between Pearl Street and St. Paul Street, is scheduled to be open later this year.

Uptown Dallas’ leasing market was the strongest one in the area in 2011, and it looks as if the strong demand for business space will continue throughout 2012.

Saint Ann Court

Commercial leases in Uptown Dallas are, once again, up and running. A good example of this is Saint Ann Court, on Harry Hines Boulevard, a 26-story office tower that is now more than 96 percent leased. The developer is so pleased with the leasing activity here that they are now have finished plans for its next office tower, which is to be located near Wolf and McKinnon Streets.

Victory Park Tower

The Victory Park area will soon see a new, 23-story office tower that will include 400,000 square feet of office space and a prime Victory Park location.