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Knox: The Katy

Tnexster
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Knox: The Katy

Postby Tnexster » 17 Nov 2016 12:42

Apartment block going up next to Highland Park isn’t after the usual Uptown renter

http://www.dallasnews.com/business/real ... own-renter

A new apartment community being built on the edge of Highland Park is after a different renter than the typical Uptown crowd.

Provident Realty Advisors project on Cole Avenue - called The Katy - will open next summer with 215 rental units.

"We are almost topped out with construction," said Provident Realty CEO Leon Backes. "We will be renting units starting in the spring."

Located a block from Dallas' popular Knox Street retail district and on the city limits of Highland Park, the 7-story building fronts on a large courtyard and will have access to the adjacent Katy Trail.

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ContriveDallasite
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Re: Knox: The Katy

Postby ContriveDallasite » 17 Nov 2016 13:36

$10,000 a month for a stick-built penthouse, good luck.

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homeworld1031tx
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Re: Knox: The Katy

Postby homeworld1031tx » 17 Nov 2016 17:04

from the article wrote:"It's very classic, timeless, modern and sleek," Backes said.


lol wut

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Boomerreed
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Re: Knox: The Katy

Postby Boomerreed » 17 Nov 2016 19:14

$10k per month?! I have a hard time believing this'll fill up in a reasonable amount of time, if ever. You could buy a condo for cheaper. This may make sense to corporate businesses for temporary housing or something but even here I think that high a rent is hard to justify.

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Dmkflyer
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Re: Knox: The Katy

Postby Dmkflyer » 18 Nov 2016 10:29

I think it is quite possible, as that is for the top tier and the range goes down to very typical rents in Uptown.

I think Knox Park as whole is aiming to be Uptown without all of the bars and partying, which I think definitely has a place in this market. While Turtle Creek Does provide this to a degree, it is mostly all condos or office with very little mixed use elements (though, that is changing). Many Turtle Creek area residents are in that same or similar demographic, but it is more quiet with residential only and you just go either to Oak Lawn/Lemmon/Cedar Springs corridors or the other direction and head to Uptown for all of the things one would need or want.

I actually think this has a place in the market, but mainly because of the location it is in and that there is a substantial niche market for it and I think that developers (including this one) know that Knox Park / Knox-Henderson (mainly on the Knox side) is becoming the more mature version of Uptown. I like that they are taking that route.

Many people with high salaries, such as lawyers may be brought in for temporary cases. There are also the unfortunate cases of high-end families going through a divorce where one party will sign a lease in the right place at rents like that. It also seems we will see more high-rise and mid-rise in that area that will create a more dense and high-end, yet quiet neighborhood, which is still right next to Highland Park and SMU and with easy access to Uptown, Downtown, and 75.

What Victory Park could not pull off, I think this area can easily pull off; granted it will be on a smaller scale and will be more organic in growth. I see it as the perfect bookend and I am excited to see that little area start to come to it's full potential. I would really like to see the Restoration Hardware Hotel / Gallery come to fruition as I believe it is making more and more sense as this area continues to change. The costs will easily justify themselves if this is the market they target for many of these types of developments. It is definitely there.

While Sarofim seems for many of us to be painfully slow with moving forward, I see more and more that they know their neighborhood and are taking the right pace that will win over even the Highland Park crowd. I think it is good to have some high-end rental options mixed in with condo options and townhomes (Travis St. Corridor) in this area. Rather than Uptown's 'vibe' spreading north, I think it will spread south to Victory and the biggest challenge will be the street snarling that happens starting around the Crescent and lowest McKinney Ave that I hope will be remedied enough for the two to blend.

I believe a high-end retirement community tucked into a corner on the north end of Knox Park with Access to the Trail and perhaps its own pocket park and very similar to Belmont Village Turtle Creek would go over very well in this area and would be able to pull in another unmet demand. As many empty-nesters bought in Turtle Creek, some are ready to move to buildings with more services for them as they age. I see the area as being a more quiet, somewhat higher-end version of Uptown that still caters to a market that is out there and this really is one of the few places that could do that. I think the Travis Street Corridor north of Fitzhugh could also become somewhat of a version of State Thomas (again higher end) to the Knox Park area and there are already signs that that is beginning (especially on the other side of the Katy Trail. It will be really interesting to watch this little nook develop in the coming years, as again, I see it as more of a slower and more steady, organic process than what you see at the other bookend (Victory Park).

I really like what I am seeing in many neighborhoods all around the central core and I think it is very much possible for each of them to not just try to recreate what another (mainly Uptown) has done. As development continues, I see each of them having their own unique flair, so I am glad that they are already stating they aren't looking so much for the average Uptowner.

Also...
I found this statement interesting: "In downtown Dallas, Provident Realty is working on plans for a high-rise apartment building that would be adjacent to the historic Brewery Building in the West End district."

I wonder when that one will really start moving. It recently seemed sooner than later, but "working on plans" makes it feel a bit further out. I think they have a good handle on who to target in these two very different neighborhoods.

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tamtagon
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Re: Knox: The Katy

Postby tamtagon » 18 Nov 2016 12:44

^word

2,500 sq ft with a sweet terrace overlooking Highland Park - $10,000 - no problem. How much are those Mansion on Turtle Creek apartments?

Maybe a decade, give or take, before adjacent Oak Lawn dwellings begin to overtake the value of Highland Park dwellings. As soon as Knox begins to swell at this price point, look for thorough and complete rezoning of Hawthorne, Prescott, Herchel, Wycliff, Douglas etc to save the best of the nice old homes while accommodating apartments and condos that'll quadruple+ the dwelling count.

'The Katy' is a litmus test of a sort, indicating how quickly the Dallas nook between Katy Trail and Central goes totally expensive.

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Fitch
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Re: Knox: The Katy

Postby Fitch » 21 Nov 2016 11:05

The penthouse units at The Taylor, in the heart of Uptown, went for $9,400/mo.

The $10,000 unit is probably closer to 3,000 SF and >$3.00 pSF.

But still...that's a new Mercedes or two every year in straight rent...good luck.

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Banksy
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Re: Knox: The Katy

Postby Banksy » 02 Dec 2016 11:28

ContriveDallasite wrote:$10,000 a month for a stick-built penthouse, good luck.

Not stick-built. All concrete. I expected sticks too but go look...it's a nice structure.

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tamtagon
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Re: Knox: The Katy

Postby tamtagon » 02 Dec 2016 11:36

Over time, this one will end up being among the nice entry level dwellings North of Knox. Expect to see in this neighborhood, eventually, some of the region's highest purchase price condos. This is a unique sweet-spot.

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Dmkflyer
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Re: Knox: The Katy

Postby Dmkflyer » 02 Dec 2016 23:27

That little slice of pie from just south of Knox north until the pie ends at Central will, no doubt, organically become more dense and high end. It will be the missing link... Turtle Creek, but with more walkability and places to actually walk to. The apex of Uptown... where Uptowners aim to "move up" to.

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kingpin
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Re: Knox: The Katy

Postby kingpin » 24 Dec 2016 13:39


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kingpin
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Re: Knox: The Katy

Postby kingpin » 04 Mar 2017 13:45

3/4/17

ImageUntitled by Around My City, on Flickr
ImageUntitled by Around My City, on Flickr

ImageUntitled by Around My City, on Flickr
ImageUntitled by Around My City, on Flickr

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NdoorTX
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Re: Knox: The Katy

Postby NdoorTX » 03 Apr 2017 11:34

Core sample drilling taking place in the parking between RH & Mecox. Also in the city owned street parking in front of RH.
Hmm... ;) :?:

cowboyeagle05
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Re: Knox: The Katy

Postby cowboyeagle05 » 03 Apr 2017 16:24

Since a lot of businesses use that parking lot I will have to ask around if someone knows anything. Bardot Place keeps stopping work on their weird second story space. I can not quite figure out what the final result of that one will be since it doesn't show patios in the current construction.

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NdoorTX
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Re: Knox: The Katy

Postby NdoorTX » 03 Apr 2017 17:13

cowboyeagle05 wrote:Since a lot of businesses use that parking lot I will have to ask around if someone knows anything. Bardot Place keeps stopping work on their weird second story space. I can not quite figure out what the final result of that one will be since it doesn't show patios in the current construction.


see what you find...I know, but it's internal only at the moment :D

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dwight
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Re: Knox: The Katy

Postby dwight » 04 Apr 2017 11:03

I think it has been known that there was something in play when the old Sangria space was shuddered and never reopened even after a press release from Lombardi was put out with a concept and chef. Unfortunately, I think it is going to be a mammoth RH... I hope I am surprised.

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dwight
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Re: Knox: The Katy

Postby dwight » 04 Apr 2017 11:38

There's also about to be some action at the old Adelmo's space behind lululemon. A group of people were there discussing construction plans for the space. I'm hoping for a sandwich place or coffee shop.

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Cbdallas
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Re: Knox: The Katy

Postby Cbdallas » 04 Apr 2017 11:40

Why would it be bad for an RH Mansion store to be built there. I was recently at the new one at the Domain in Austin and it was fantastic. It would solidify this entire area as a destination for home furnishing shopping for the long term. I would welcome this development.

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tamtagon
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Re: Knox: The Katy

Postby tamtagon » 04 Apr 2017 12:17

This area is ready for couple'a nice boutique hotels, one up there near Javier's, small and double-D fancy; one near Chuy's, along the lines of a W Hotel, or (anyone else remember the rumor) a Restoration Hardware Hotel.

Tnexster
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Re: Knox: The Katy

Postby Tnexster » 12 Apr 2017 16:06

Luxury $75M Katy Trail project makes a run after empty nesters

http://www.bizjournals.com/dallas/news/ ... after.html

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Thymant
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Re: Knox: The Katy

Postby Thymant » 19 Apr 2017 18:59

From Today:

Image
By Me

LongonBigD
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Re: Knox: The Katy

Postby LongonBigD » 01 May 2017 21:17

IMG_1587.jpeg
IMG_1586.jpeg
IMG_1585.jpeg
Progress pics from yesterday.
You do not have the required permissions to view the files attached to this post.

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kingpin
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Re: Knox: The Katy

Postby kingpin » 05 Jun 2017 17:56

6/5/17

ImageUntitled by Around My City, on Flickr

ImageUntitled by Around My City, on Flickr

ImageUntitled by Around My City, on Flickr

ImageUntitled by Around My City, on Flickr

Tnexster
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Re: Knox: The Katy

Postby Tnexster » 14 Jul 2017 15:58

New Dallas apartment block lures empty nesters with bigger living space

https://www.dallasnews.com/business/rea ... arge-units

LongonBigD
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Re: Knox: The Katy

Postby LongonBigD » 30 Aug 2017 20:38

Walked by this one tonight. The construction fence is almost completely down. I don't get the interaction with Cole at all. The sidewalk is 3' wide in front (so 1960's suburb). UGHHHH...why is this still allowed in Oaklawn/Uptown/Knox at all?

Also, what's with the 10' tall solid brick wall out front (see 3rd pic a couple of posts down)?? I need to go around back. Hopefully it interacts with Katy Trail better.

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R1070
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Re: Knox: The Katy

Postby R1070 » 30 Aug 2017 21:42

The narrow sidewalk really stuck out to me too.

The city needs to modernize their pedestrian infrastructure requirements!

cowboyeagle05
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Re: Knox: The Katy

Postby cowboyeagle05 » 31 Aug 2017 09:18

LongonBigD wrote:Also, what's with the 10' tall solid brick wall out front (see 3rd pic a couple of posts down)?? I need to go around back. Hopefully, it interacts with Katy Trail better.


I think you can see your answer in this rendering...
C2-b.jpg
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kingpin
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Re: Knox: The Katy

Postby kingpin » 24 Sep 2017 21:12

9/24/17

ImageUntitled by Around My City, on Flickr
ImageUntitled by Around My City, on Flickr
ImageUntitled by Around My City, on Flickr

ImageUntitled by Around My City, on Flickr

ImageUntitled by Around My City, on Flickr


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