Is East Dallas The Next Hot Neighborhood? This Developer Thinks So
Larkspur Capital Partners unveiled plans for a new development in East Dallas. The Quarter will be comprised of 18 townhouses along Fitzhugh Avenue, Larkspur Capital co-founder Carl Anderson (shown here on the left with his brother Chris) tells Bisnow. Every unit will feature upscale finishes and luxury touches that can’t be had anywhere else in Dallas at this price point. Units at The Quarter will start at $350k.
The economics are interesting because the Quarter will be built in an area that for years has been a no-man’s land of urban ruin with criminal elements. However, in recent years—like the rest of Dallas and surrounding areas—a few intrepid developers have begun to buy up the land and build retail. The Quarter, Carl tells us, will leverage off the retail on Henderson and Greenville avenues.
The Quarter will be a premium development in a transitional neighborhood, so the gamble is that people will come, expecting the area to become more established with other multifamily developments and retail in time.
Right now, the Quarter is near some new retail, including a pizza shop, a pho restaurant and a few new bars, all of which cater to young professionals.
The Quarter features three floor plans from 1,450 to 1,750 SF, filling a void for midsized living space at a reasonable price.
The response has been very positive, Carl tells us. The company recently hosted an open house that was packed for two hours with people expressing interest.
Larkspur Capital recently completed two additional projects in the Fitzhugh Avenue corridor. Phase 1 of The Ivy, a gated community with 34 modern townhouses, and the Bennett Avenue Townhouses are both upscale developments that were added to the company’s portfolio in the past year.
Pre-sales for The Quarter will start next month.