In the beginning, the Cedars was a bustling community that was also a Dallas hot-spot — and it remained so from its beginning in the 1870s until the 1920s, as the more wealthy denizens of the neighborhood moved on. By the 1960s, the neighborhood took a hit from progress, as homes saw the wrecking ball to make way for highway projects.
But the area is having a bit of a renaissance. The artists, musicians and longtime residents of the Cedars will tell you that it’s always been percolating. But once again, new development is beginning to sprout, and the area is attracting new businesses, too.
Some of that burgeoning development comes courtesy of the Cedars Collection, which is working to take its substantial land holdings in the neighborhood and turn it into walkable development with townhomes, condos, apartments, live/work spaces, and retail space.
We wrote last week (in our Daltxrealestate.com Open Houses of the Week feature) about the group’s first project — Hickory Vista, where there is one townhome remaining.
But Coldwell Banker Realtor Courtney Michalek told us that she’s also now pre-selling their upcoming 13-unit project at 2000 Park Ave., where the homes will sell for $399,000.
She’s also holding a broker’s open house at the Park Plaza project Tuesday, Dec. 11, from 10:30 a.m. to 12:30 p.m., where brokers can come hear about the Cedars Collection plans for the neighborhood, as well as get the skinny on the pre-sale, and even have some breakfast (they’ll have donuts, coffee, and mimosas).
But before then, we got a little bit of the scoop, courtesy Brian Jennings of Charter Investments, who is one of the developers for the Cedars Collection.
CD: The Cedars has become quite the bustling area — what drew your company to the neighborhood?
Jennings: “What drew us there is a favorable location on the southern edge of downtown and proximity to the Central Business District, even walking distance, great views of the southern downtown skyline which is arguably the best downtown viewpoint, adjacency to the 27-acre City Park and Dallas Heritage Village, artistic Cedars vibe, etc.”
CD: You have a substantial footprint to develop — what kind of time frame are you looking at for the various phases?
Jennings: “The mix of apartment rental units, for sale townhomes and condos, and mixed use residential/office/retail buildings will be developed over the next 3-7 years or so.”
CD: If someone hasn’t been to the area for a while — say they used to frequent Lee Harveys, or maybe the Farmers Market and would drive through the area — what kind of changes do you think would surprise them?
Jennings: “More new developments going on, old buildings being demolished, old buildings being repurposed, new businesses like Texas Brand Bank and Four Corners Brewery moving in, professional people moving in, new energy and momentum!”
CD: What are you hoping it will become for the residents of the Cedars?
Jennings: “That this will develop into a modern, active urban, pedestrian-oriented, walk-able district that retains the special artistic Cedars vibe.”
CD: What kind of price points are we talking for townhomes and apartments? Who will be able to afford to live there?
Jennings: “There will be wide price points for townhomes depending on size and bedrooms — $350K to $500K. Apartments from $1,100 — $2,000. A wide variety of people will be able to afford to live here, including people looking for a lower-priced alternative to Uptown, and professionals working in the Central Business District or the medical district.”
CD: What kind of quality-of-life amenities will be available — you mentioned retail and live/work spaces, but what about green space?
Jennings: “Retail, live/work, you could list all of the businesses on Lamar — Gilley’s, NYLO hotel, Alamo Drafthouse, etc. In addition, there will be an abundance of green space including the Riverwalk, future Trinity River development, and biking,hiking trails. And there is a 27-acre City Park (Dallas Heritage Village), which is especially great for people with dogs, which is a unique amenity not available to other areas. ”
