We mentioned here a while back that Michael Dell was in talks to purchase Sarofim’s interests on Knox Street and in the Knox neighborhood. The Dallas Morning News has now confirmed the purchase.
This is a major changing of the guard and we hope that the new ownership will continue the positive changes that Sarofim pioneered. Stay tuned for any new information.
A very interesting read from towers about the proposed apartments to be built on Cole Avenue between Armstrong and Oliver. The developer is asking for an 85 ft variance and will likely transform that block into dense multifamily. Units will essentially be small, affordable, studio apartments. (And a lot of them.) The Oak Lawn Committee took a strong stance against the project moving forward as proposed and the developer is working on its own grass roots endeavor to win over neighbors.
This project will certainly set the stage for the rest of the area being converted from less dense 2 story owner occupied toward dense multifamily along Cole Ave. I expect that it will look more like the Aura apartments and less like the dense tree covered adoption center that it replaced (Fitzhugh and McKinney).
The project already well underway at the intersection of Monticello and McKinney will be a similar project. 5 levels of wood construction built on a semi-underground, concrete parking garage.
The new tower at Oliver and NCX is also moving forward after what seemed like years of delay. This is supposed to be 18 stories of premium ‘luxury’ apartments. They too have cleared all the trees from the lot.
Many changes and many more to come to our neighborhood. I heard that the On the Border will also be closing to be redeveloped. More news on that coming soon.
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.”
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.
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.
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.
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.