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Top 5 Real Estate Innovations in Dallas-Fort Worth Area

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October 2, 2009-- The Dallas-Fort Worth area is becoming an up-and-coming market and bringing with it fresh ideas for new real estate trends. Area developers are taking notice of the needs or wants of future residents. Here is a compiled list of the top 5 innovations in the Dallas-Fort Worth market:

 
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1. Dallas Green Building Alliance

“Going green” is a concept that many consumers and developers in today’s market are taking to heart. Consumers are realizing that they won’t just save a few bucks here and there with the electricity bill—they are going to better the environment around them and they will feel good about it.

About a year ago, a few contractors in Dallas with a similar idea decided that enforcing a green standard in real estate was a necessity, but needed a vehicle to implement their vision. They decided to create the Dallas Green Building Alliance (DGBA), which serves these environmentally conscious consumers by providing them with the most progressive providers of responsible products.

DGBA Logo
The DGBA are positioning themselves “as the leading force in the field of green & energy efficient construction in the Dallas / Ft. Worth Metroplex.” The future of green real estate is here.
 

2. New Cowboys Stadium and its Effect on Real Estate Development

It’s official. Dallas is now home to the most expensive and largest NFL stadium in the United States. With an overall cost of approximately $1.2 billion, the new stadium has everything a die-hard Cowboy’s fan could want…except perhaps a nice apartment minutes away from the action.

As of today, the closest luxury apartment home in the Arlington area is The Franciscan of Arlington. The Franciscan offers affordable floor plan rates with 1 bedrooms starting at $670, 2 bedrooms at $905 and 3 bedrooms at $1225. According to Marketing Director Carrie Pierce, the apartment has seen some positive effects of the Cowboy’s new home. For instance, right now the Franciscan is sitting at a very comfortable 95% occupancy.

Pierce also claims the apartment is catering to the new football fans by offering two fully furnished guest suites which will be leased on a daily to weekly basis. Pierce believes these suites will have very high demand for events such as the Super Bowl XLV coming in 2011, or for Dallas fans looking to stay for a weekend closer to the new stadium. The addition of guest suites is very new, and those interested should keep their eyes peeled for details!

 

3. Cutting-edge Residences in Uptown Feature Infinity Pool and Ghostbar

If you want to live the life of the rich and famous, it is possible in Victory Park’s Dallas Victory Residences. Some of the amenities here will really make your jaw drop, and maybe drooling a bit too. This 33-story high-rise was completed in the summer of 2006 and features world renowned modern architecture with breathtaking views of Downtown Dallas.

But let’s get to the juicy stuff. One of the amenities is on the 16th floor and will be sure to keep any resident satisfied. The zero-edge infinity pool overlooks the panoramic skyline of Dallas and get-this: it is even heated! So for those life-time Texas residents worrying about the unbearable winters here, don’t fret…this pool is open year round. Just make sure not to enjoy one-to-many cocktails and fall off the building.

Ghostbar at Victory Park Residences

The second amenity is a Ghostbar. If you really want to mingle with hot celebrities, then Ghostbar is the place to go.

Located on the top floor of the building, people have the option to enjoy the beat of intoxicating grooves, try to stalk Paris Hilton for photos, or soak in the views of Dallas from the signature glass-floored ghostdeck.

 

4. The House --- Why There isn't 100% Occupancy

This state-of-the-art 28-story high-rise is struggling in Victory Park, but why? It is definitely not the actual residence itself. According to the press, The House represents the new benchmark for what residential design can be. Factors that are leading to low occupancy rates include the struggling economy and housing market, and Victory Park itself.

Randall Turner, a Commercial Real Estate Broker for Harvard Companies in Dallas, blogs that Victory Park “has turned many potential residents and visitors away with its almost too high-end offerings.” As a result, many of the luxurious residences in Victory Park aren’t filling up.

According to Turner, “the developers of Victory Park seem to have taken note of this flaw in its design, and have subsequently begun bringing more economical venues here.”

It is safe to believe that as developers begin to make these changes, Victory Park will very soon be the new desired place to live in the Dallas-Fort Worth Area.

Victory Park
 

5. ABT Executive Suites Takes on Commercial Real Estate

Millennium Centre

ABT Executive Services represents one of the most successful companies offering commercial real estate in the United States. In late September of this year, ABT singed a lease at the Millennium Centre in Dallas.

ABT’s services are appealing to Fortune 1000 companies because they provide premium office space with complete support services. Clients realize that sharing a superior office in a state-of-the-art building like the Millennium Centre at a more reasonable price is preferred to signing a longer lease for a larger space.

ABT’s services allow thriving companies to cut costs while creating a presence in the market. 

According to Bret Chapman, Managing Partner of ABT, “the Millennium Centre in Dallas is the flagship location in our ten-location, 250,000 square-foot business.”

By: Aimee Langlinais
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