Sarofim is putting its Knox Street properties up for sale

Steve Brown of the Dallas Morning News is reporting:

“The largest owner in Dallas’ hot Knox Street business district is putting its properties up for sale.

Sarofim Realty Advisors has spent almost three decades buying and developing retail and apartment projects in the Knox Street corridor. It owns owns development sites along Travis Street.

The private real estate firm — they built the new high-rise apartment and retail project at Cole and Armstrong avenues that houses Trader Joe’s — has quietly put the buildings and land located on six blocks just east of Highland Park up for sale.”

https://www.dallasnews.com/business/real-estate/2017/12/19/six-blocks-dallas-hot-knox-street-sale

This is huge news.  Sarofim has been the largest player in this area for a long time.  For years they’ve planned to develop the block on the southwest corner of Knox and Travis, but nothing has been done.  It leaves me to believe they think the end of the cycle is nearing and want to lock in some of the upside they have helped to create.  We will continue to follow this story.

 

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Bikeshares, consider yourselves on notice.

Enough is enough.  I’ve been holding back, but since Katy Trail Dallas has publicly posted about the bikeshare problem, I’m going to put in my 2 cents.

Today the Katy Trail’s official Instagram account posted information that all but calls the bikeshare companies a problem.  But really, that’s what they’ve become.  Bikeshares are meant to enhance the transportation and recreation options for our neighborhood.  Now they are becoming a nuisance with too many bikes littering the trail, blocking our sidewalks and accumulating on public and private property.  The photo below shows a prime example where vbikes is using the corner of Knox and McKinney for advertising without consideration for those who need to use the sidewalk.

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Vbikes isn’t the only one engaging in this practice and I hate to single them out, but this is an example of too many bikes blocking a main neighborhood walkway.  The Katy Trail is encouraging people to download the 311 app and report nuisance bikeshare bikes that block public walkways, and I’d even go a step further to say to move them out of the way.

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Weirs reveals new plans for Knox Street location

As reported here back in June, Weirs has major plans for its Knox Street Store. DMN is reporting that a 12 story building is planned with emphasis that the 100+ year old Highland Park Soda Fountain will remain on the corner.  Plans call for 50,000 feet of retail space and a 6 story, sub level parking garage.  It also sounds like Weirs will face Travis creating more retail frontage availability on Knox Street.

We will continue to update as more information becomes available.

https://www.dallasnews.com/business/real-estate/2017/11/14/knox-streets-familiar-weirs-furniture-block-getting-high-rise-makeover

Travis-Knox Addition 

Towers is reporting that a preliminary plat was approved for Travis Block Holding Company LLC to consolidate 14 lots into a 2.25 acre tract.  It notably does not include Cafe Madrid.  This is a huge piece of property and we’ll keep updating with new information as it becomes available.

http://dallas.towers.net/2017/08/15/hotel-multifamily-projects-announced-for-uptown-and-oak-lawn/

Whoa…big changes for Cole Ave

As we’ve been reporting for ages, restoration hardware is indeed planning a major, major project….51,000 sq ft of retail, a hotel, etc…

And if that wasn’t enough, another apartment building replacing the crumbling, primer gray apartments between Armstrong and Oliver on Cole Ave.

Candace Evans broke the info from attending the Oak Lawn Committee meeting where these proposals were presented. 

Read her article and see the pictures.

https://candysdirt.com/2017/07/12/knox-knox-whos-there-oak-lawn-committee-gets-glimpse-of-fab-retail-hotel-and-sigh-more-apartments/