Upcoming development at McKinney and Monticello

The north end of the Knox neighborhood is getting a lot of love these days.  With the complete transformation of Corner Bar to Chelsea Corner, the success of Henry’s Majestic, and the expected influx of residents over the next 24 months this should become a vibrant retail corner.

Chelsea Corner update:  The Chelsea Corner concept being executed by Kent Rathbun and Len Critcher has gained momentum.  This now looks like it will be a complete rebuild of the building.  The exterior is being saved which should preserve the character of a space which holds a special place for many people over several decades.  Most people who spent any of their 20’s in Dallas have memories of this location.  From our understanding, Chelsea Corner will be a food and bar concept with more emphasis on food that when it was Corner Bar.  The completely reconfigured space will allow for a more functional kitchen while retaining the character of this vintage building.

Henry’s Majestic:  I think it’s safe to say that Henry’s Majestic and Atwater Alley have locked up the northeast retail corner.  Previous tenants were unable to establish an identity with staying power.  Since making its debut in the fall of 2014, Henry’s Majestic has attracted a following of young Dallasites from the Knox-Henderson area and has established itself as a go-to spot for locals.  We especially like the large, dog-friendly patio.  In a neighborhood with (what seems like) one dog for every two residents, dog-friendly establishments are warmly embraced.

Brian’s Wine:  This place has been around for a while, but it has quietly become a neighborhood favorite catering to those with an affinity for fine wines and a desire to relax in a low-key environment.  This is the place to head if you appreciate wine, good conversation with neighbors, and a refuge from the masses of people who have over-run lower Mckinney Ave bars.

Hola? :  So this one has been closed for years and to be honest, I had to reach out within my office to find someone who remembered it.  It was a Spanish themed tapas bar that has  been closed for at least the last decade.  However, the space is prime for a new development.  The building has character and the potential for an amazing patio.  This is the southwest corner of the intersection.  Once the nearby residential developments and Chelsea Corner are complete, I expect there will be a full scale renovation in this space.  I’m not aware of an players eyeing this space, but the space will be a prime location within the next 12 months.  (There may also be other factors including the development in the pipeline just south of this location.)

The Chateau:  This condo complex (4805 McKinney) has been in play for a couple of years.  A development company may have bought out all 32 units and may be planning multifamily in this space.  A zoning change sign has recently appeared on this property.  This property houses a mix of renters and owner occupied.  Some of the renters are junk collecting and have a history with visits from DPD for all types of complaints including drug possession, domestic disputes, code violations, etc..  The size of this lot could make for a very large development of multifamily or mixed use which would also contribute to the revitalization of this corner of the Knox neighborhood.

The McKenzie: This luxury building will be 22 stories tall and contain 183 luxury units.  It is already well under construction and is located just north of the McKinney and Monticello intersection.  This building looks to be very high end with larger units that will likely rent for $3.50-$4.25 per foot.  This demonstrates the confidence of developers that this area is transitioning to dense, high end residential and retail.  I expect that we will be seeing more of this type of development in the Knox neighborhood as land costs and demand continue to rise over the next few years.  The developer has a few renderings available here The McKenzie by Streetlights Residential, and from the looks of it, we’re quite excited.

These developments, as well as others nearby, are changing this part of the Knox neighborhood for the better.  The increased density of quality multifamily is attracting high quality tenants for both residential and retail to create a rich, organic neighborhood experience for the residents of the Knox area.

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