The Cedars continues to benefit from the demand for urban living, as is easily confirmed by the experience of Urban Lofts Townhomes.
This small Houston-based company has been colonizing Dallas of late with great success. Founded by Houston architect Larry S. Davis, Urban Lofts Townhomes distinguishes itself with a flare for modern contemporary designs that Davis initially marketed to San Francisco artists before moving to Texas.
Mike Harper, the company’s sales director in Dallas, is in the process of wrapping up sales at Wall Street Townhomes in The Cedars, an eclectic post-industrial district just across the Thornton Freeway from Convention Center and the Dallas Farmers Market.
The six units in phase one of the Wall Street Townhomes sold out quickly and there will be another eight units built in phase two, of which five remain available.
Prices started in the high $300,000s with phase one, but quickly rose to the $400Ks. At present, prices are in the upper $420Ks, Harper said.
“These are right around 2,100 square feet. They’re three-story townhomes with a fourth floor rooftop deck. These are unbelievable views of the downtown skyline.”
The neighborhood is within walking distance or a short drive from so much of what makes urban living exciting, but these luxury units are also just across the street and one block away from DART’s Cedars Station, with connections to the Red and Blue light rail lines. To get there, residents have to walk past Urban Lofts Drive; across the street from the townhomes, Urban Lofts Drive was Urban Lofts Townhomes first effort in The Cedars and it went so well that building Wall Street Townhomes became a fait accompli.
Harper said the company markets the project for its ease of access to entertainment and shopping venues throughout the area, but with the DART rail, residents have access to Dallas Love Field and the world.
The Cedars is a gateway community to the city’s South Side and in the early 20th century it was an upscale neighborhood where lawyers and businessmen working downtown would retire at the end of the workday to stately Victorian homes. In the latter half of the century, the professional class migrated north and the neighborhood became more industrial.
That all began to change after Dallas Area Rapid Transit opened Cedars Station in 1997 and local developer Jack Matthews of Matthews Southwest capitalized on its presence. He launched an urban residential revival when he renovated the nine-story former Sears complex, turning it into the 457-unit South Side on Lamar, 1409 S. Lamar St. Other Matthews Southwest projects in The Cedars include the Alamo Drafthouse Cinema, 1005 S. Lamar St.
More development followed, such as The Beat Lofts, an 11-story tower at 1001 Belleview Street, and the South Side Flats by Jefferson, a four-story luxury apartment community that starts rents at $1,145 for a one bedroom.
The next residential project breaking ground is Digit 1919, a Buzzworks development that adheres to a philosophy similar to Urban Lofts Townhomes.
Buzzworks founder Zad Roumaya opened the midrise Buzz Urban Lofts at 1111 S. Akard Street in 2007. This four-story 49-unit condominium was an award winning green building and features a rainwater irrigation system, wind-powered electric service metal artwork in the common areas.
Buzzworks is at it again. The developer has broken ground on Digit 1919 at 1919 Akard Street, eight blocks from Buzz Urban and half that distance from the DART Cedars Station.
Digit 1919 will be a four story rental property with 102 units. It is expected to be complete in August 2017 at a cost of just over $7 million.