Posted on

Donald Trump Jr. forms venture with Dallas money manager who raised millions for father’s campaign

AP

Donald Trump Jr. has a previously undisclosed business relationship with a Dallas businessman who helped raise millions of dollars for his father’s 2016 presidential campaign and has had special access to top government officials since the election, records obtained by The Associated Press show.

The president’s oldest son and hedge fund manager Gentry Beach have been involved in business deals together dating back to the mid-2000s and recently formed a company, Future Venture LLC, despite past claims by both men that they were just friends, according to previously unreported court records and other documents obtained by AP.

Beach last year met with top National Security Council officials to push a plan that would curb U.S. sanctions in Venezuela and open up business for U.S. companies in the oil-rich nation.

Ethics experts said their financial entanglements raised questions about whether Beach’s access to government officials and advocacy for policy changes were made possible by the president’s son’s influence — and could also benefit the Trump family’s bottom line.

“This feeds into the same concerns that we’ve had all along: The really fuzzy line between the presidency and the Trumps’ companies,” said Noah Bookbinder, who leads Citizens for Responsibility and Ethics in Washington, a public policy group. “Donald Trump Jr. sort of straddles that line all the time.”

Gentry Beach, left, a fundraiser for then President-elect Donald J. Trump, and his wife Kathryn visited the lobby of Trump International Hotel in Washington, D.C. on Tuesday, January 17, 2017.

Last February, just as Trump Sr. was settling into office, Beach and an Iraqi-American businessman met with top officials at the National Security Council to present their plan for lightening U.S. sanctions in Venezuela in exchange for opening business opportunities for U.S. companies, according to a former U.S. official with direct knowledge of the proposal.

Career foreign policy experts were instructed to take the meetings, first reported last April by the website Mic.com, at the direction of the West Wing because Beach and the businessman were friends of Trump Jr., the official said.

The official, who spoke on condition of anonymity to discuss sensitive government work, said that inside the NSC lawyers raised red flags about the appropriateness of the meeting.

The U.S. didn’t act on the pitch, which would have gone against the president’s hard-line stance on the South American nation and its president, Nicolas Maduro.

Seven months after the Venezuela meetings, Beach attended a private lunch in Dallas between Interior Secretary Ryan Zinke and Republican donors, including businessmen with petroleum interests, according to a copy of Zinke’s schedule.

The Interior Department didn’t respond to a request for comment about the meetings. A White House official said Trump Jr. didn’t arrange Beach’s visit to the NSC and his proposal was dismissed.

In a statement, the Trump Organization said Trump Jr. has never played a role arranging meetings “with anyone at the White House or any other government agency.”

Alan Garten, the Trump Organization’s general counsel, acknowledged that Trump Jr. had invested with Beach in the past, but referred AP to a statement released by the company in April, which said their relationship was “strictly personal.”

In a statement provided by a friend, Beach said it was “absolutely not true” that he’d ever “used my longtime personal friendship with Donald Trump Jr.” to influence government decision making.

According to his friends, Beach, who has known Trump Jr. since they attended the University of Pennsylvania together in the late 1990s, developed his own relationships during the campaign and inauguration and doesn’t need Trump Jr. to broker introductions.

Beach was an avid fundraiser and campaigner for President Trump, particularly in Texas, where Trump Jr. told donors last March that Beach and another longtime hunting pal, Tom Hicks Jr., raised millions for his father’s campaign, The Dallas Morning News reported.

After the election, Beach served as a finance vice chairman for the inaugural committee and faced scrutiny after a nonprofit he started at the time advertised hunting and fishing trips with Trump Jr. and his brother, Eric, to million-dollar donors.

Last October, Beach incorporated a business called Future Venture LLC in Delaware without listing any Trump connection, signing himself as the entity’s agent.

But a disclosure report filed with New York City officials and obtained by AP via a public records request shows Trump Jr. is named as the president, secretary and treasurer of the company.

The purpose of the limited liability company could not be determined from the filings. The Trump Organization said it was set up to pursue technology investments.

Previously unreported court documents show that the two men, each a godfather to one of the other’s sons, did business together well before they formed Future Venture.

In a 2010 deposition, Trump Jr. testified that he had twice made investments in ventures that Beach had an interest in: $200,000 in a dry Texas oil well managed by Beach’s father and an undisclosed amount in a failed mining stock affiliated with Beach’s uncle.

In August 2008, while the two men were golfing together in New York, Beach suggested Trump Jr. sell his shares in the tanking stock “if you need the tax loss,” according to a copy of his testimony filed in a long running civil lawsuit between Beach and a former employer, hedge funder Paul Touradji.

In 2005, Gentry Beach (right) helped his friend Donald Trump, Jr. prepare for Trump’s wedding ceremony at the Mar-a-Lago Club in Palm Beach, Florida.

Beach’s father, Gary Beach, was convicted last month of federal bankruptcy fraud after a seven-day trial in Dallas.

Trump Jr. testified that he had other business discussions with Beach — but not all of them came to fruition, including a plan to buy a hunting preserve in Mexico with Beach.

Trump Jr. also referred Beach to someone he knew from Saudi Arabia when Beach was working on a potential oil purchase and invested $50,000 along with his sister Ivanka in an Argentine resort developed by one of Beach’s friends, he testified.

Trump Jr. estimated he exchanged roughly 500 emails with Beach at the time of his 2010 deposition.

Pressed for details about the oil well deal in his deposition, Trump Jr. indicated he wasn’t well versed in the oil-and-gas business.

“You know, I put some money with a friend,” he testified.

Jake Pearson, The Associated Press

Source Article

Posted on

How a Pastor With an $825k Housing Fund Built a Nightmare For Dallas Homeowners

City of Dallas employee Carl Wagner, left, is a longtime friend and business associate of home builder Kenneth Williams, right. (Facebook)

Under a program to rebuild houses for people with low-income, the city of Dallas awarded $825,000 in federal funds to Kenneth Williams, a Fort Worth pastor and home-builder, in 2015. But the homeowners, which included mostly older and disabled residents, now say they have been victimized with houses that have leaks, lack rain gutters, and a host of other problems. The program, originally created to provide a better quality of life with housing for these residents, has been shelved.

According to The Dallas Morning News, a simple background check would have revealed that Williams misstated his financial history on his application and had been barred from doing similar work in Fort Worth.

The story of how Williams, the senior pastor at New Spirit of Prayer church in Fort Worth, came to work for the city is emblematic of problems that have dogged the Dallas housing department. Officials there have a history of being sloppy with federal money and failing to vet whom they do business with, even though providing housing that’s affordable for poor and working-class families is one of Dallas’ most pressing needs.

Connections May Have Played a Role

According to the Morning News, Williams may have been awarded the funds through the help of his childhood friend, Carl Wagner, a city of Dallas employee.

Public records show that in the late 1980s, the men were involved in a Fort Worth real estate deal and opened a Christian ministry, according to the Morning News. The paper also states that the pair later worked together at Williams’ construction company, according to Wagner’s resumé.

According to the paper, the two are reported to be best friends with Williams ex-wife, Denice Williams, stating, “Carl knows everything about Kenneth and Kenneth knows everything about Carl. They’re best friends.”

A Troubled Housing History

By the 1990s, Williams was struggling financially, but after Wagner landed a job in the city of Fort Worth’s housing department in 2000, Williams suddenly found steady work and funds for his housing program. Williams said he got the jobs on his own, with no help from Wagner.

By 2015, Williams had founded a new construction company. Coincidentally, Wagner started working for the city of Dallas, helping to manage a program to demolish and rebuild rundown homes. Williams submitted an application to the city on which he listed work on an in-law’s house as a reference. The application also omitted his seven previous bankruptcies. The Dallas Morning News also reports that Williams had paid Wagner for training on how to safely work with lead paint. Despite these issues, the city of Dallas listed Williams’ company the city offered Williams as one of a handful to families that qualified for the house-rebuilding program. Eight families chose him to rebuild their homes, some reporting they did so because Williams was a pastor.

Victims Are Living In A Nightmare

For those families, the decision to choose Williams’ company has proven to be a mistake. Take Jimmy Isbell, 75, and his wife Deborah Isbell, 58. Jimmy says, “The house is brand new, but water leaks through a wall, soaking the bedroom carpet. Rain gutters are missing along the edges of the roof. A blank spot in the bathroom marks where a walk-in shower was supposed to be.”

At age 75, he is afraid he’ll hurt himself stepping in and out of the bathtub. He and his wife have had to sleep on a mattress in the living room. “I’ve actually called this a demon house,” he said.

Other clients report lights that flicker when the vacuum is turned on, non-flushing toilets and gaps in the foundation. In order to get new houses, the families had to agree to live in them for 20 years. Some fear the houses won’t last that long.

Explanations and Excuses

The Dallas Morning News reports that Wagner has not yet responded to their requests for comment.Williams, however, responded by acknowledging what he says was an error in judgment, telling the paper that he fell deep into debt trying to finish the houses and help people in need. “I let my heart overrule better judgment,” he said, adding “I was trying to help these old people and it was going sour for me.”

Source Article

Posted on

For homeless to coexist in a booming downtown Dallas, new Stewpot chief must be a ‘connector’

Abandoned Buildings on Flipboard

Brenda Snitzer just might have the right kind of background to fix the clash between homeless service providers and downtown Dallas’ booming population.

Brenda Snitzer, executive director of The Stewpot

The new executive director of The Stewpot — which serves 15,000 homeless and at-risk people every year — started her career as a probation officer.

After that, she worked at a psychiatric hospital, her church and several Dallas nonprofits. She doesn’t list all the names.

“I’m trying to avoid saying I’ve had a lot of jobs,” she jokes.

But she says her varied experience is her strength.

“I’m a connector,” she says.

She’ll need connections to handle the complaints lobbed at The Stewpot and other downtown service providers for homeless people.

About 130,000 people work downtown, and around 11,000 people live in the central business district. And that number is growing.

The southeast side of downtown Dallas was once peppered with abandoned buildings. Many of the residents there lived not in expensive lofts but on cardboard pallets outside.

The development around the Dallas Farmers Market — a hip area with a lot of pedestrian traffic — has put new residents in close proximity to homeless people camping or sleeping on sidewalks.

People often mill around The Stewpot off Young Street at Park Avenue. Downtown cleanup crews spend hours every morning picking up trash in the area from there to the Bridge Homeless Recovery Center and an Interstate 30 overpass where people are known to camp out.

Kourtny Garrett, CEO of Downtown Dallas Inc., said the streets around The Stewpot have “been one of our most challenging areas of downtown.”

“We’re still at a transition in that neighborhood from one that didn’t have as much activity to one that does,” she said.

The Farmers Market resident said she is optimistic that Snitzer can work with the neighborhood to solve the problems.

Brenda Snitzer walks the halls at The Stewpot offices that features work from the agency’s art program.

Snitzer says she is meeting with business owners and neighborhood groups to hear their concerns but says the solution has to be more than moving homeless services away from the city’s center.

“Do we want economic development in our city? Yes, we do,” she said. “But we can’t just keep moving the problem around.”

In December, the Dallas City Council passed a nuisance abatement ordinance that allows police to shame properties where “habitual criminal activity” occurs by posting a sign outside.

It’s an ordinance that targets organizations serving homeless people, according to Snitzer’s predecessor, Bruce Buchanan, who retired after 30 years there.

Snitzer replaced Buchanan last month.

“There are things we need to work on with the city and the city needs to do in their role caring for the citizens in Dallas,” Snitzer said.

Also on that to-do list: panhandling and K2, a cheap synthetic marijuana.

Many homeless people battle drug addiction, especially to K2, a problem that has overwhelmed Dallas police and private security officers downtown.

Aggressive panhandlers have harassed people going to work or heading home downtown. Dallas police have tried cracking down on the panhandling and K2 problems, with little effect.

The K2 problem has plagued downtown the past two years. Last year, downtown safety patrol officers responded to 6,000 K2 calls, said Martin Cramer, vice president of public safety for Downtown Dallas Inc.

“That kind of volume would overwhelm the Dallas Police Department,” Cramer said.

Nonprofits like The Stewpot are trying to offer help to the Dallas homeless population to fix these problems, but such groups are also blamed for drawing homeless people closer to the city’s hub.

It’s a “chicken vs. the egg” issue. Which came first? The homeless people or the nonprofits trying to help them?

Ultimately, none of that matters to Snitzer. She just wants to fix the problem, not point fingers.

“The Stewpot since the ’70s has been trying to help people in these communities where nobody else was helping them,” Snitzer said.

Part of fixing the problem comes down to knowing how to work in concert with other nonprofits.

At the start of her career, while working as a probation officer, Snitzer was frustrated there was no database or list of the social services available in Dallas. She often didn’t know where to send the people she was trying to help.

Those services are still fragmented, and newly homeless or at-risk people often turn to The Stewpot to figure out what to do.

This week a man told her, “I’m newly homeless. I don’t know how to navigate a lot of this stuff.”

Snitzer now knows which nonprofits do what in Dallas and has even worked at several of them, including Our Friends Place, Girls Inc. and Big Thought.

She hopes to bring those groups together.

No matter how experienced Snitzer is, there’s little to prepare someone for balancing working with the city and people who want homeless people out of sight, said Wayne Walker, executive director of OurCalling, a homeless outreach center.

“The politics involved is ugly,” Walker said.

Unsheltered homelessness is expected to increase again this year, at a time when affordable housing is limited. OurCalling sees 250 new unsheltered people each month.

“The need far exceeds our available resources every day,” Walker said. “Think about the unsheltered — where can they go for any services? … The Stewpot has filled in a really unique gap.”

Source Article

Posted on

Dallas apartment construction boom could spur rent relief, expert says

Rent prices are dropping

There is no apartment shortage in Dallas. Rendering courtesy of Greystar

Some price relief appears to be on the way for renters in Dallas-Fort Worth. An explosion of new apartments in the area should help drive down increases in rental rates, according to a real estate analyst.

As of February 21, there were 37,547 apartment units under construction throughout the region, says David Kahn, senior market analyst in DFW for CoStar Group, the parent company of Apartments.com. Among U.S. metro areas, Dallas-Fort Worth ranks second, behind New York City, for the number of apartment units currently being built, Apartments.com data shows.

Not only will the surge in apartment construction mean more choices and more amenities for area renters, but it also will bring some downward pressure on rental rates, according to Kahn. That’s thanks to the stepped-up competition that existing apartments will be facing from new apartments.

Already, growth in DFW rental rates has slowed from about 6 percent in 2015 to 4 percent in 2016, and just under 3 percent in 2017, Kahn says. He expects growth in rental rates to continue declining, especially since a number of local apartment projects in the pipeline haven’t even broken ground yet.

“I wouldn’t say there is an apartment shortage in DFW,” Kahn says. “But in terms of overall housing, since we are building single-family homes at a much lower rate than we have previously and single-family home prices are rising faster than multifamily rents, that pushes many people that would normally buy homes into the renter pool, at least temporarily.”

The demand for more apartments in Dallas-Fort Worth has been driven in large part by the addition of more than 100,000 jobs in the region since 2013, Kahn says. The number of apartment units under construction now in the area represents about 5.5 percent of the existing supply, which Kahn says isn’t an abnormally high percentage.

Kahn says the sections of DFW seeing the most apartment construction include Uptown, Knox-Henderson, East Dallas, West Dallas/Design District, and Northwest Dallas/Medical District, along with Allen, Frisco, McKinney, Plano, and the Addison/Carrollton/Farmers Branch tollway corridor.

Source Article

Posted on

Catching up With Dallas Players at the Pebble Beach Pro-Am

Dallas Cowboys

Harrison played soccer as a kid. But he can still swing a stick.

Dallas was well represented at the Pebble Beach Pro-Am this past weekend, and not just by defending champ Jordan Spieth and longtime sponsor AT&T. The popular four-day tournament, which matches up PGA Tour professionals with celebrity amateurs, is played on three courses on the Monterey Peninsula in California: Spyglass Hill Golf Course, Monterey Peninsula Country Club Shore Course, and, the prime jewel, Pebble Beach Golf Links, the No. 1 ranked public course in the United States.

Snagging invites this year were 13 amateurs from Dallas, including business execs Doug Parker of American Airlines, Rich Templeton of Texas Instruments, and Bob Rowling of TRT Holdings. Also in the field were Chris Harrison (Lake Highlands High School grad and host of The Bachelor) and Tony Romo, who next month will make his PGA Tour debut at the Corales Puntacana Resort & Club Championship in the Dominican Republic.

Spieth, who on Saturday was nearly nailed in the head by an errant bunker shot by actor Ray Romano, was paired with country music singer Jake Owen, along with Dustin Johnson and hockey great Wayne Gretzky. He ended up shooting an unremarkable -8 to tie for 20th. Spieth’s fiancée, Annie Verret, was in Pebble Beach to cheer him on. They plan to marry “around the fall,” she told me, and it will be a small, friends-and-family affair. “I don’t want to be introduced to someone at our wedding,” she said.

Jordan Spieth contemplates either his tee shot or his impending nuptials.

I caught up with Tom Dundon as he walked up to the eighth tee box on Saturday, right after he had played Pebble Beach’s No. 7, one of the most iconic holes in golf. The Dallas billionaire has played the Pro-Am 13 or 14 times, he said, and always with good friend Hunter Mahan. Dundon has been busy lately with his new NHL team, the Carolina Hurricanes, and his Trinity Forest Golf Club, which will host the AT&T Byron Nelson tournament in May. “AT&T wanted a world-class course for the tournament, and we gave it to them,” he said.

Tom Dundon owns a hockey team.

Rounding out the Dundon-Mahan foursome were Romo and Will Zalatoris. “I play a lot with them at home [in Dallas],” Romo said. “Tom is a close friend, and I always enjoy being around him and Hunter.” The former QB thinks people will be impressed when the Nelson makes its Trinity Forest debut. “They’ve put together a great field, and I think it’s going to be a great tournament,” he said. “The course is fantastic.”

Look at those dimples!

Fin Ewing III, whose Plano-based Ewing Automotive Group sponsors PGA Tour player Cody Gribble, first played the Pebble Beach Pro-Am back in the 1990s, when he was paired with Justin Leonard as a fill-in for his ill father. After bringing The Carmel Cup (a college tournament with teams from the SEC and Big 12) to Pebble Beach in 2011, he earned his own invite and has played every year since. The Ewing family has owned a home in Pebble Beach since 1985. “We like to go to the aquarium and to the beach with the dogs,” Ewing said. “It’s just so beautiful out here. My dad used to say, ‘God spends more time out here than he does in Midland-Odessa.’ And that’s the truth.”

By Sunday, Harrison was the only Dallas amateur to have made the cut. We spoke after his final round, and he was still giddy. “To be here your first year and make the cut — it’s like making the Super Bowl your rookie year of playing football,” he said. “I think it has a lot to do with the pony I was riding this week; Jason Day was pretty phenomenal for a partner. But I did my part, and hopefully I represented Big D well.”

Despite his love for the game, Harrison didn’t play much golf when he was young. “I grew up in the shadows of Royal Oaks, but they didn’t let me in the gates there,” he said. “I was over at Moss Park playing soccer. I went to school with Justin Leonard and some other guys. They took a left and went to Royal Oaks; I took a right and went over to Moss Park to play soccer, and that’s where I spent my Saturdays.”

November through March, while The Bachelor is on the air, is his “golf season,” said Harrison, who loved to watch the Pebble Beach Pro-Am on TV as a child. “It seemed like this magical Shangri-La, watching Bing Crosby and Bob Hope and Clint Eastwood and the biggest stars in golf play here. I thought as a kid, ‘Man, if I could ever be there …’ So, to actually play in the tournament and to make the cut is one of those pinch-me moments. It doesn’t seem real.”

Harrison ended up tied for 10th among amateurs. The winner was Arizona Cardinals wide receiver Larry Fitzgerald, who teamed with Kevin Streelman to finish with a score of 41-under par, including a 12-under for their final round. Among the pros, under-the-radar Ted Potter Jr. bested the world’s No. 1 ranked Dustin Johnson by three strokes to win.

Source Article

Posted on

Fort Worth-based Crescent Real Estate, Platinum Homes ready final phase of residences at The Ritz-Carlton in Uptown Dallas – Dallas Business Journal

Dallas Business News

Dallas-based Crescent Real Estate Equities LLC and luxury home builder Platinum Homes recently formed a partnership to complete the final phase of Regency Row at The Tower Residences at The Ritz-Carlton Dallas.

Construction on the Robert A.M. Stern-designed brownstone-inspired homes is slated to begin this spring.

Platinum Homes, led by CEO Mark Molthan, was selected to complete Crescent’s vision for Regency Row based off the firm’s design aesthetic, attention to detail and talent in creating custom-tailored homes, said Crescent Real Estate Chairman John Goff.

Goff added it was an easy decision to have Platinum Homes complete the remaining Regency Row homes, which range in size from 5,300 square feet to 6,300 square feet.

Each of the homes facing Olive Street at Cedar Springs Road have private garages, fully-landscaped courtyard entrances and personal elevators from the garages to a rooftop terrace.

The builder, which has been working in the Park Cities for nearly two decades, will oversee the interior construction of the remaining homes. Laura Kirar and Allen Kirsch are the interior designers on the town homes.

One of the homes will feature a translucent wine cellar to give off a warm glow of light in the first three levels of the home. Another house has a floating stairwell.

Molthan said the residences give would-be buyers the ability to create a dream house in a prominent neighborhood with little available supply.

Crescent Real Estate recently completed a $33 million renovation to The Crescent, a mixed-use development in Uptown. Crescent and its affiliates are also nearing completion on a $30 million renovation to Hotel Crescent Court.

Goff said these amenities will help support the ultra-luxury brownstone residences upon completion.

“The bottom line is that the value of Regency Row is now fully realized,” he said, adding buyers will be able to take advantage of the neighborhood and all the amenities located between Crescent Court and The Ritz-Carlton, including the McKinney & Olive tower.

Kyle Crews of Dallas-based Allie Beth Allman & Associates is the listing agent for The Tower Residences and Regency Row. The new homes could be priced from $5.5 million to $6.5 million upon completion.

Construction on the homes is slated for completion by this fall.

Source Article

Posted on

Riverfront project in the works would link downtown Dallas, Uptown to the Trinity River

New South Bronx waterfront development has residents asking who ...

Staff Photographer

A new waterfront development in the works near downtown Dallas would bring housing, retail and commercial buildings to the banks of the Trinity River.

Developers Forest City Realty and Trademark Properties are teaming up on the mixed-use development proposed on Riverfront Boulevard at the Margaret Hunt Hill Bridge.

The roughly 42-acre building site is on both sides of the bridge along the banks of the river.

“I believe it as outstanding piece of real estate that will be connective tissue with West Dallas, Uptown, Victory and downtown Dallas,” said Terry Montesi, CEO of Fort Worth-based Trademark. “It’s right in the middle of where the $150 million park on the Trinity River is planned.

“This is where you could have multifamily homes, hotel, office and retail with access to a promenade and the park,” Montesi said. “We think we can do a special mixed-use neighborhood.”

The development team is working on designs for the project and the infrastructure that would be needed to connect the site to the river and the neighborhood.

Developing on Dallas’ long neglected waterfront has long been a goal of city leaders and planners.

Long running plans to construct park and recreation facilities and pedestrian trails in the huge river floodplain between downtown, West Dallas and Oak Cliff have been slowly moving ahead.

The Riverfront Boulevard property Forest City and Trademark are focused on is one of the largest development sites along the riverbanks.

“It’s a really strategic, wonderful piece of real estate we think has real opportunity if we can get the Corps of Engineers, the city and the folks development the park to work together with us,” Montesi said. “It will take a public-private partnership.”

Forest City senior vice president Jim Truitt said the two real estate firms have the land under contract to purchase, but it’s too early to talk about specific details of a development.

“There is tons of due diligence to do but we are 100 percent focused on it,” Truitt said.

Forest City is one of the country’s most experienced commercial property developers.

Founded in Cleveland in 1920, the builder has major projects in New York, Washington, D.C., Boston, Denver, Los Angeles and San Francisco.

In Dallas, Forest City has redeveloped landmark downtown buildings including the Mercantile National Bank tower and Mercantile Continental building.

And in Uptown’s Cityplace project, Forest City is building its second high-rise with apartments, retail and hotel rooms.

Trademark Property has been in business since 1992 and has developed 11.8 million square feet of retail and mixed-use projects valued at $2.5 billion.

Trademark developed the Watters Creek retail and apartment complex on U.S. Highway 75 in Allen. And the firm is part of the team redeveloping the Victory Park project on the northwest edge of downtown Dallas.

At home in Fort Worth, Trademark is building two mixed-use projects on the Trinity River called Westbend and Waterside.

“One of the great futures in Dallas-Fort Worth is greater interaction with the Trinity River and green space,” Montesi said.

The vacant land that Forest City and Trademark have contacted to purchase has been owned by a local investment group since 2012.

The property includes land on both sides of the arched bridge and between Riverfront Boulevard and Stemmons Freeway.

Before the recession, the development site which previously was covered in warehouse buildings was cleared by an apartment builder that hoped to build high-rise housing.

But that deal fell apart during the economic downturn.

Commercial real estate firm CBRE which has marketed the land for sale did design proposals for the land that showed a complex of high-rise buildings.

Kourtny Garrett who heads the economic development group Downtown Dallas Inc. said the river front real estate is prime for building.

“This is connective tissue that will bring downtown, West Dallas and the Trinity all together,” Garrett said. “The whole riverfront area is a blank canvass.

“We are very optimistic and excited about what they could bring to this property.”

Commercial property firm CBRE did designs for a high-rise project on the site as part of its marketing of the land for sale.

Source Article

Posted on

Dallas developer sells W South Beach PH to plastics exec

Penthouse 2 at 2201 Collins Avenue (Credit: Zillow)

Dallas developer Joe Beard just sold his penthouse at the W South Beach to a plastics executive, property records show.

Westdale W LLC, a company managed by Westdale Real Estate Investment Management’s CEO Beard, sold penthouse 2 to David Berges, former head of Hexcel, a multibillion-dollar plastics company, for $8.7 million.

The 2,647-square-foot, three-bedroom unit at 2201 Collins Avenue features a 2,700-square-foot rooftop terrace, five balconies, an outdoor theater, pool, marble floors, floor-to-ceiling windows and smart home technology, according to a Zillow listing. The hotel condo unit is also listed on Zillow for rent, asking $40,000 a month. Engel & Völkers is the listing brokerage.

The Westdale affiliate paid $7.25 million for the unit in 2009, when the building was completed. It hit the market in 2015 for $12.5 million and was re-listed in August for $9.3 million. This latest sale marks a 30 percent difference in price from the original ask. A unit owned by the late Zaha Hadid at the W was recently reduced in price from $10 million to $6.5 million, marking a 35 percent price cut.

Lisa Van Wagenen of Brown Harris Stevens Miami represented the buyer, according to a spokesperson. Engel & Völkers’ Luis Gonell represented the seller.

In South Florida, Westdale is looking to build Westdale Wynwood, a 202-unit apartment complex with some office and commercial space in Wynwood.

Source Article

Posted on

How To Find Quality Housing In Dallas

Dallas one of the best cities you can move to. It has amazing weather, affordable housing, and a low cost of living. All these factors work together to make it one of the best cities to live in. Dallas housing is very affordable compared to other parts of the country, so if you are looking for a beautiful place on a budget, you might be able to find it in Dallas.

If you are moving to Dallas and need housing, you have to first think about what type of housing you want. Are you buying a house or moving into an apartment. It is important to decide what type of housing you are going to be moving into before you leave your current state.

Buying property in Dallas is affordable and there are plenty of homes you can buy that are beautiful and affordable. If you want to buy new construction or a beautiful old Victorian, you will find plenty of housing choices when you move to Dallas.

Property taxes are low in Texas and so is insurance. In fact, Texas has a low cost of living in just about every category, so it makes for a great place to live altogether. If you want to rent an apartment, you will find many affordable apartment rentals to choose from as well.

If you are going to be moving into an apartment, make sure you do your research so you find an apartment that meets all your criteria and that is also in a good neighborhood. You need to plan to spend some time looking around at the different neighborhoods so you find one that is going to work well for your needs. Make sure to check out the locations of the different areas you are considering on a map.

Posted on

Studios for Rent in Dallas What You Need to Know

Studios for Rent

A lot of real estate property professionals would say that finding a studio apartment rental in Dallas is incredibly difficult. Even so, this does not imply that finding an excellent quality studio rental unit in this city is impossible.

Dallas is a great city to live in. It is the commercial center that no other metropolis in the world will offer the services provided by this city and is really worth living here. When the time comes to look for the best studios in Dallas, you will slowly learn that it may require time and patience to grab the best deal. Dallas city is divided into five sections. They are also known as boroughs. The standard of life and activities will vary from one borough to another. There are places where you will find apartments really expensive. At the same time, if you prefer to live in one of the suburbs, you will get apartments for a cheaper rate.

Before you set out and begin inspecting some studio apartments dallas, you must know that there are several things you will have to consider, in addition to the budget. For instance, there are several rental units that will not let you live with your pets. There are apartments that will only let people from a specific niche like corporate studios and professional apartments. If you are in Dallas for a job and want to live in one of the standard studios, then you should think about using paid services like apartment rental locators or real estate agents. Nevertheless, seeking apartments online is a viable option because services offered by these portals are likely to be cheaper and investing some time to find one is worth the effort.

One of the reliable ways to get studios in Dallas is via online advertisements. A good example for this type of ad is the Craigslist.org, however, there are thousands of real estate portals online to help you get the job done. Online real estate classified ads are reliable because they provide sufficient details that are relevant for the apartment hunter to find the best deal. It is yet possible to search for the studios for rent in newspaper classified. Nevertheless, a majority of these advertisements are published by real estate brokers or apartment rental services so you have to work hard to get the right one.

When it comes to newspaper ads, search for key phrases like “to book by owner” or “no agency calls” as this implies that you will be dealing straightly with the property owner. Renting studio apartments in Dallas is not as difficult as you may think. If you are confused by all these terms and phrases, you can look for the help of real estate brokers to get the best deal. They are experienced people and very well know the requirements of their clients. However, you have to be careful before you finalize the deal. Who is going to live in the studio is you, not the broker. So, do proper homework for not to get cheated.