Dallas Fort Worth Urban Forum

tamtagon wrote:How much are these?

Tucy, why do you think they sell so slowly?

because the cheapest I see listed is $2,100,00.00 for a 2 bedroom

Any updates on how many units are unsold now, Tucy?

I'm guessing the next phase depends on how well this building is doing, so I'm curious.

What's the next phase? I thought this was only a two-building project built on the foundations of the Lone Star Tower project that never happened. Were they planning to build more across Ross?

Edit - I guess that's what you were referring to, the building across the street. I personally never took that seriously but who knows.

IcedCowboyCoffee wrote:Any updates on how many units are unsold now, Tucy?

I'm guessing the next phase depends on how well this building is doing, so I'm curious.

I remember seeing renderings for a Hall-owned large tower across Ross Avenue from the Hotel that was to include office, hotel, & limited residences. It looked to be in the 50-story range. Hall does own the land which is now used for surface parking. It backs up to the Portman Holdings' Dallas Gateway project, which has similar components to its development.

Where'd tucy go?!?!

September 2023

Zero sold. 33 sold in 39 months. (0.846 per month) 16 remaining.

Sell-out projection: 4 years, 10 months

They have sold 4 so far this calendar year (0.44444 per month). At that pace, the sell-out projection is 6 years, 3+ months.

October 2023

Zero sold. 33 sold in 40 months. (0.825 per month) 16 remaining.

Sell-out projection: 5 years

They have sold 4 so far this calendar year (0.4 per month). At that pace, the sell-out projection is 6 years,8 months.

November 2023

Zero sold. 33 sold in 41 months. (0.805 per month) 16 remaining.

Sell-out projection: 5 years, 1 month

They have sold 4 so far this calendar year (0.3636 per month). At that pace, the sell-out projection is 7 years, 1+ month.

December 2023

Zero sold. 33 sold in 42 months. (0.786 per month) 16 remaining.

Sell-out projection: 5 years, 3 months

They sold 4 in 2023 (0.333333 per month). At that pace, the sell-out projection is 7 years, 6+ months.

January 2024

Zero sold. 33 sold in 43 months. (0.767 per month) 16 remaining.

Sell-out projection: 5 years, 4 months

February 2024

Zero sold. 33 sold in 44 months. (0.75 per month) 16 remaining.

Sell-out projection: 5 years, 6 months

March 2024

Zero sold. 33 sold in 45 months. (0.7333 per month) 16 remaining.

Sell-out projection: 5 years, 7 months

Welcome back!!

That is a lot of zero months back to back.

Stuff being built is too expensive for the market. They would sell much faster if they weren't so high end. You build some average/slightly above average priced condos and they will go fast. The luxury apt/condo market is further North in the Knox/HP area.

They originally sold it as being in the Arts District but that area needs a refresh with cohesive streetscape and lighting and landscape to signify the entire Arts District as it is looking pretty worn out from the 80's and 90's when most of it was installed.

March 2024

Two sold. 35 sold in 46 months. (0.76 per month) 14 remaining.

Sell-out projection (assuming they maintain that pace of sales): 5 years, 5 months

In the last twelve months, I believe they have sold six units; if they continue at that pace of sales, sell-out will not occur until 8 years, 8 months.

FWIW I’m on their instagram feed and they post whenever a home goes under contract. They claim there are currently only 10 homes left. So several more should show sold soon.

This is such a high end development, I figured it would take some time to sell out. With so many upscale companies moving Uptown, the market for this kind of condo is improving. It will be interesting to see if Hall eventually builds the larger tower across Ross Avenue.