November 7,  29 “luxury condominium homes” will be auctioned off by Kennedy Wilson. I was reminded of this yesterday here at the Urban Land Institute meeting in San Francisco, when I stopped by the Sheldon Good & Company booth/exhibit. Sheldon Good auctioned off the The Centrum a few years back, kind of got sales jump-started. They were telling me that auctions are an emerging trend in real estate sales and not just for distressed properties (or condos) either; check out this:  the 40,000 square foot main house of the John S. and Eleanor Pillsbury estate, designed in 1916 to 1918 by architect H.T. Lindeberg, on Brackett’s point overlooking Lake Minnetonka, Minnesota. This is the second time in the home’s history that it has been on the market.

Segue back to the Drexel Park Hollow: jump for  the deets on those interiors.

When I toured the units, they told me that HOA dues would be lowered to 30 cents per square foot from the usual 40 cents. (Wonder how that sits with current owners?) The condominium also takes care of mowing the small patches of grass outside the units. Finish out nice, though I personally found the units very dark . Some kitchens, for example, are in the center of the floor plan without windows. Granite counters a bit thin, impressive kitchen appliance package: Wolf, Thermadore, Bosch dishwashers. Huge master baths and closets; air jet tubs versus jetted. I did not like no sinks in the utility rooms, otherwise spacious. Jack and Jill baths in-between the guest bedrooms, solid core doors impressive. Units with square footage over 2500 square feet also have three thermostat controls. I was not impressed that the libraries had no shelves, but that’s just one of my building pet peeves (along with no hand-sprayers in soaking tubs). However, the agent told me this was by request because residents often use the room for other purposes — and prefer to use their own shelves. Makes sense. Another feature of these units that make them ideal for people who travel: the valet closets. These are accessible from the exterior by the staff to drop off packages and dry cleaning; the doo from the closet to the unit is accessible only by the resident for security purposes. The Drexel Park Hollow has spacious underground parking with private elevators to each unit; a room in the basement has been decked with carpet and a few treadmills for a gym. The takeaway: a pretty good buy for the money, super spacious, and if you are inclined to travel and not live in these units 24/7, a few lightbulbs will bring in all the light you need.

I had heard that Garrett and Cecelia, who are the best neighbors folks could ever have, were going high-rise and moving to The Centrum. Boone said he’d hoped to be an official Turtle Creek “neighbor” by now, but a “six-month construction delay” has kept them out of their unit at the Centrum Tower and in their sprawling ranch home not too far from yours truly. (Boone’s co-founder, William “Kip” Tindell, also lives nearby since he bought Caroline Minnis’s $ 5 millionish sleek contemporary home on Northaven at Ricks Circle.) The Boones have a penthouse on the 14th floor of the Centrum, which he said they love because of the unique, sleek architectural component of the building, the spectacular views and yet still neighborhood-y feel.

But here’s what’s really cool: The Boones have hired architect Max Levy to create a contemporary but uber green showcase home up there. To wit, three sides will be made of sustainable, recycled glass; hidden LED lights mean no more lightbulbs; a complete rainwater recapturing system even way up there, and native, not-so-thirsty Buffalo grasses on the terrace. The Boones say they will be one of the the first Platinum LEED certified penthouses in Dallas.

Despite the delays, Boone says he’s sure to be moving into the new space by April 2010; a palm reader in New York told him so, saying, “You will have a big move in your life in April of 2010.”

“In terms of construction timing,” says Boone, ” a palm reader is as good as anyone!”

No kidding!

Reminds me of what I was telling my husband the other day: the minute you move in these palaces, the place starts depreciating. All downhill, just like cars. Put the keys in the ignition, turn her on, the dollars start falling before you get out of the parking lot. Structure may decrease in value, but that dirt does nothing but hold hold hold.

So here’s my new theory: we should all live in tents on one acre lots. This place? One fancy pants tent.

Update: My first headline said $1.5K — was just trying to get your attention.

I’ve got to get you all inside this one…

It could be worse — we could be Miami. And I’ve heard that condos in Austin are moving like molasses, this in a town where parents often buy real estate for their UT undergrads.

I agree with Schnurman and the folks he consulted — Residential Strategies’ Ted Wilson and RECON’s James Gaines: too many condos were built. They knew it, we all knew it. As I was purging papers for our move to Saint Paul Street last week,  I found a brochure from the Cresta Bella — remember that? And Museum Tower was supposed to break ground this spring or fall. Schnurman says Mandarin Oriental pulled the plug last summer; I heard the writing was on the wall last March. And a reader asked me this week what, if anything, could be done with that sad Stoneleigh Residences shell — the ghost condo is the view from her front window. The Ritz opened The Tower Residences last Tuesday — all of phase one sold, though re-sales are slow and have seen two foreclosures, and the new 95-unit Tower Residences has 30 units left to sell. (David Farmer reminded me how bullish I was on the Stoneleigh; I still think it’s an excellent location for a high-rise. I asked what they thought would happen to that shell — nothing, I was told, until someone starts lending some money.) What was their secret to success? Great timing.

Here are the problems: a lack of financing in the jumbo market  ($417,000 or above in Dallas); if you do obtain funds, getting an appraisal through the new Home Valuation Code of Conduct; and in fact getting any money at all. Buyers are also skiddish over HOA’s, which I hope to examine more on this blog.  But why do lenders get the heebie jeebies still with Dallas condosl? Last Wednesday night at The Travis, one of the developers told me it was like pulling teeth to obtain financing on those units, but they did get a bank to sign on. I maintain that the real estate market would be a whole lot healthier if the lenders would just start lending again — not to anything that has a pulse, but to qualified people.

The good news is that Dallas now has 30,000 people living downtown — and I saw with my own eyes last weekend how we are becoming a city that never sleeps. (Yes!) The units will get absorbed, but it will take time, a few foreclosures,maybe even an auction or two.

Meantime, hold the cranes, please. Just please pass the credit.

Yvonne, I just love you and super, super congratulations!

Now I am sorry this photo is so distant. I had a little embarrassing moment Friday night. I always have my phone handy for photos, and it was tucked away in my handbag ready to shoot. Well, the program began, we were all quiet, and I heard this music coming from somewhere –  well actually, coming from under our table! Apparently I had accidentally sat on or stepped on my phone in my clutch bag (Jimmy Choo, of course, on super sale) and the i-tunes music was playing. Now I didn’t know how to turn it off because I (a) panicked and (b) have never listened to music on my i-phone. True confessions here. In fact, until very recently, I had no music on the thing. So I didn’t know how to stop the music from playing and driving everyone nuts. I went into the hall to figure it out, and got this picture of Ebby. Too bad I didn’t play with my Quick Voice app and record Ebby’s solo — but with my technical luck — I might have blasted her out with my Paul McCartney concert recording.

Go check SweetCharity: I’m sure Jeanne will have even more great details about the night and all the glitterati of the weekend!

I really need to pack!

McGuigan also warns that just because you build art doesn’t mean people will come: case in point, LA’s Disney Concert Hall. We are also a car-centric city and must keep LA’s lesson in mind: whatever we plan, whatever we build, you gotta take care of the darn cars that get people to the event. Make that parking inconvenient enough, those valet lines too long, folks will be tuning out to art, tuning into their PDA’s, heading back to their McMansions. And let’s be nice to our feet: one of the biggest selling points of every downtown residence is the walking proximity of the Dallas Arts Center (and yes, Victory) to all of them. So let’s also make sure we are foot friendly as well as car friendly.

8:00 a.m. My husband, the early riser, is up after a perfect night’s sleep. Oh, how he tries to be quiet but oh, how it always fails. “Have you seen my chart bag?” Though I secretly hope it’s buried in Kaufman mud, I tell him it’s in the car. Go get it — no wait, call and ask for someone to get it for you! Test out the hot phone. “Is it HIPPA compliant?” (Peace and sleep for ten minutes. Then…) “Shall I order breakfast? What do you want?” Duct tape.

10:00 a.m. Breakfast Beautiful arrives on a wheeled cart with a warming oven below to keep it warm. I am concerned that the cart will not make it down the hall and around the center hall table, but it does: someone obviously measured, someone watched those details. I feel guilty — briefly — that I haven’t used the gourmet kitchen — the Wolf stove, the warming drawer, the twin wine fridges next to the integrated Sub Zero — well, I did use something. I load the integrated Asko dishwasher, though not necessary. Breakfast mess will be cleaned up during our massage.

11:00 a.m. What would we be doing now at home? Reading the paper, sipping coffee, surfing the internet. What are we doing now? Reading the paper, which was delivered dry inside our home, sipping coffee, surfing the internet to find Tweets of the Cattle Baron’s mudfest. Only here we are on the 16th floor, overlooking the city, thinking about mosey-ing down to that exercise room which does not require a car ride, which really takes away every excuse.

11:30 a.m. Dallas is a city that never sleeps: we are surprised by how many cars were on the roads last night, especially since half were still stuick in Kaufman. And did you notice how quiet it is in here? My husband, a perfectionist surgeon,  is impressed with the quality of the construction and the windows. It really does feel like a home, a home that floats, I say. I love watching the city in action, my husband says. I could do this. But, I say, you’ll have no garage. They have garages for your car downstairs, he says. But no tools, I say. Who needs tools? You use the hotphone.

11:45 a.m. We really are going to go downstairs and exercise.

The perfect cocktail party, a five star dinner. We return to our new home in the heavens to find love in the air: someone has turned down our bed and strewn it with fresh rose petals, forming a heart right in the middle. Ah, the empty nest: my husband is asleep in five seconds; he delivered babies the night before. So I do something I’ve wanted to do since I toured the very first Dallas high rise in a hard hat: take a nice soaking bath overlooking the lights of the city in that stunning white and black veined marble bathroom.  (Just lock me in there.) The Ritz jetted tubs are by Kohler with platinum Kallista fixtures — and the  jets are perfectly placed. Robert A.M Stern is a genius, but please, no hand-sprayers? I make do with the excellent water pressure — which was also perfect when the shower was running. A-plus plus bathrooms. (And no scalding flushes — like when your spouse flushes the commode and whoever in the shower gets scorched?) So I was soaking, enjoying a magazine, breathing in the city lights and noticing for the first time that it was still raining.

Then the phone rang.

I was out of the tub within minutes of learning that my daughter and son in law had wrangled themselves out of the mud at Cattle Barons, while the D Magazine crew had to abandon their car. (”Go back” I told my daughter.) Frantic phone calls had created an image of what would become a Woodstock for thousands of Dallas millennials, an event that they would relay to their grandchildren: I survived Cattle Baron’s 2009. I got into my suitcase and found that black lounging outfit — I was going to call for the car just like a real resident, go rescue those folks, bring ‘em back to The Ritz.

“You don’t understand, we are covered in mud,” said SweetCharity Blog editor Jeanne Prejean.

Towels, they’ll need towels: I looked at the pristine white Ritz bath sheets embossed with the regal lion brand.

Let’s see just how much they want us to make ourselves at home.

Next thing you’ll tell me, I said, is that I can turn on the fireplace from my key fob.

7:30 pm: Dinner for four at Fearings. By now our cocktail guests had departed — Halle and Ali to a concert, Pam to dinner, Anna to her babies, Jeanne, Glenn, Sara and Gillea to Cattle Barons. By now it was pouring but the four of us footed the skybridge that connects The Tower Residences to the hotel. Neither of us curly girls frizzed. In fact, I had no idea how much it was raining until later.

8:00 pm: We enjoy the meal of a lifetime at Fearing’s, one of the driving reasons why many people buy Ritz real estate: you’ve got the Number One restaurant in hotel dining (dry) steps away, available for in-home catering, and a boost on reservations. In fact, Barbara Capasso personally escorted us to the restaurant lest we get lost. Or wet.

“Are you doing this just because I am a writer?” I asked.

“No, we treat all our guests like this,” she said. “We are renown for our personalized, attentive service.”

And yes, when we finished dinner — a sampling of Dean’s signature Tortilla Soup, Cast Iron Alaskan Halibut on Gulf Lump Crab “Succotash”with Tabasco/Bacon Gastrique and Fried Green Tomatoes, Maple-Black Peppercorn Soaked Buffalo Tenderloin on Anson Mills Jalapeño Grits and Crispy Butternut Squash Taquito, Barbara was there to roll us escort us home.

Saturdays go something like this: clean house, killer work out class, home to recover and hop in the pool with the dogs if weather permits, after which I usually walk around the exterior of my house and make note of what needs to be done. If I don’t get someone out to clean my windows the  mud wasps will have eminent domain. I have a dead juniper next to my front door. The yard man needs to pay more attention to the Japanese garden, which looks more like Hiroshima, the summer color is going going gone and it’s time to shell out money for think fall color. The pecans are raining on my sidewalk faster than I can sweep them, yielding enormous squirrel scat, and there’s a duck pooping in the pool, on my deck. So much for a swim. No wonder that by four pm, I’m hitting the bottle and re-thinking my love affair with home ownership.

So when the Ritz-Carlton Dallas asked if we’d like to try on living in one of their newest homes — to be unveiled tomorrow — I said not just yes but HELL YES and told the squirrels to stuff themselves.

2:00 p.m We pack our bags for a night of elegance, dinner at Fearings,  and (yard maintenance be damned, or at least postponed), a Sunday at the Ritz-Carlton Dallas spa: I slip into a cocktail dress and fold up work-out clothes, tee shirts, bathing suit (which I ended up leaving on my dresser) and make-up. Also throw in an elegant black velour lounging outfit with tags still hanging — never worn since I never “lounge” in my own home.

3:58 p.m. Arrive at the 23-story Tower Residences at the Ritz-Carlton, Dallas, pulling the car into the port-cohere at our new address: 2555 North Pearl Street. We are greeted by none other than Ritz-Carlton General Manager Roberto van Geenen; Joseph Pitchford, Senior Vice President, development, Crescent Real Estate Equities L.L.C.; and Barbara Capasso, Residences Manager, with champagne. The Robert A.M. Stern regency-style building exterior is similar — identical, actually — to it’s twin tower and the hotel, the pale brick and cast stone. Most definitely a New York City elegance. The interior lobby is dramatic with white onyx floors bordered by rich chocolate brown and, a concierge counter bearing the most beautiful russet-colored stone slab I have seen to date: rich maple wood paneling everywhere. Unlike Tower One, this lobby is more of a rectangle, with a warm residence sitting room, a library, Chinese-red dining/board room,  private exercise room with a cushioned floor, individual lock and key wine-storage units for each homeowner, and gateway to a gorgeous, 80 foot long pool and spa flanked by Jerusalem Palms. There is an exterior fireplace and the entire deck, chairs, chaise lounges, pillows are new, spotless, squirrel and duck-free.

There is a fireplace in the lobby as well, and it is lit, warm and welcoming on what will soon be an historically rainy day in North Texas.

And so begins one of my most amazing 24 hours ever…

Eat your heart out, Jason Sheeler. (Sounds like you did.) We’re going to The Ritz!

For Immediate Release

THE TOWER RESIDENCES AT THE RITZ-CARLTON DALLAS ARE COMPLETE

AND WELCOMING OWNERS TO THEIR NEW HOMES

(photo available)

DALLAS – September 1, 2009 – The Tower Residences at The Ritz-Carlton, Dallas are welcoming residents to the new property, as the striking structure, designed by Robert A.M. Stern Architects, LLP, of New York, has become the second completed phase of Uptown’s award-winning Ritz-Carlton neighborhood. The opening marks the first Ritz-Carlton residential unveiling in Texas since 2007 and Dallas’ first and only completed top-end residential high-rise offering for 2009.

From the moment the 23-story building’s design was introduced, The Tower Residences have promised to be a stunning complement to the 18-story Ritz-Carlton, Dallas hotel and its existing Residences. Bringing iconic new architectural dimension to thriving Uptown, the curved stone high-rise features a Regency-style design, with interior public spaces also designed by Robert A.M. Stern Architects and highlighted by striking fixtures, maple paneling, and chocolate brown marble and white onyx floors.

Dallas-based HKS served as architect-of-record for the project, while Hayslip Design Associates was responsible for the residence layouts, Manhattan Construction was project general contractor, and Humphreys & Partners Architects served as architect-of-record for the Residences. The building continues Robert A.M. Stern’s architectural aesthetic developed for The Ritz-Carlton, Dallas neighborhood’s first phase and, through its dramatically curved faade, interacts with the nearby Crescent complex, creating a distinct sense of place on Pearl Street.

“We are thrilled to welcome homeowners to The Tower Residences at The Ritz-Carlton, Dallas,” said Joseph Pitchford, senior vice president, development for Crescent Real Estate Equities Limited Partnership. “With an on-time completion, robust sales and outstanding design and amenities, The Tower Residences are a significant and exciting milestone for the Ritz-Carlton, Dallas neighborhood.”

The Tower Residences feature 95 elegant homes ranging from one to three bedrooms in size and offer 24-hour access to the award-winning services and amenities of The Ritz-Carlton, Dallas hotel. Homeowner benefits include 24-hour Ritz-Carlton concierge service through a priority phone in each residence, dedicated security and valet services, a private entrance and underground parking, a resort-style outdoor pool with lush landscaping, and the Tower’s own private fitness center. Residents enjoy la carte access to The Ritz-Carlton Spa, Fearing’s Restaurant, in-room dining and housekeeping service, as well as private wine storage, exclusive gathering areas and an airy, climatized glass skyway joining the Tower directly to the hotel.

With convenient access and panoramic views of both Uptown and Downtown, homeowners are a stone’s throw from Dallas’ most desirable venues, including the Central Business District, The Crescent, American Airlines Center, Dallas Convention Center, historic West End, Dallas Market Center and the Apparel District.

The Tower Residences are also adjacent to the largest urban cultural arts district in the country featuring the Dallas Museum of Art, Meyerson Symphony Center, Nasher Sculpture Center and Dallas Center for the Performing Arts, scheduled to open in October 2009 as the United States’ most significant arts facility opening in decades. Additionally, the setting is home to the forthcoming Woodall Rodgers Park – a five-acre urban park that will connect Uptown, Downtown and the Arts District and provide an unprecedented offering of Dallas concerts, outdoor festivals, lectures and youth education programs.

While the majority of The Tower Residences have been pre-purchased, a select few homes remain available for sale from $800,000 to $6.2 million with immediate move-in. For additional information or a personalized tour, please visit www.TheResidencesDallas.com or call The Residences at The Ritz-Carlton, Dallas Marketing Center at 214.855.2020.

The Real Estate Council’s Giving Gala Features Auction of “Green” Playhouses

Dallas, Texas, September 30, 2009 – In the spirit of celebrating its mission of giving back to the community, The Real Estate Council (TREC) is launching Project Playhouse, presented by Zom Living, at this year’s Giving Gala on Thursday, October 8^th.

“Project Playhouse is a highly creative way to utilize the professional expertise of our members to showcase green building techniques through three unique playhouses,” said Dan Fryman of Comerica, who is this year’s Giving Gala chairman. “These playhouses will be sold in a live auction the night of the Gala to benefit The Real Estate Council’s community impact initiatives. We are encouraging anyone who may want to purchase a playhouse for their child or grandchild or for an agency serving children to bid on it.”

The three Project Playhouse teams are Balfour Beatty Construction and HKS Architects; ENTOS DESIGN and Tri-Tex Construction, Inc.; and Corgan and MAPP Construction LLC.

In addition to green requirements, the playhouses must meet height requirements and be child-safe.

If you are interested in placing a bid prior to the event, contact TREC at 214.692.3600.  Minimum and maximum bids will be taken.

“Not only will the money raised from Project Playhouse go back to the community through TREC’s community impact initiatives, but also children in the community can benefit if the playhouses are donated to a school or nonprofit agency,” Fryman said.

About the Giving Gala:

Presented by Deloitte and Republic Title, The Real Estate Council’s (TREC) Giving Gala is set for 6:30 p.m. on October 8, 2009 at the Anatole Sculpture Garden on the grounds of the Hilton Anatole, 2201 Stemmons Freeway, Dallas, TX 75207. Headliner for the western-themed evening is rising country and western star Jack Ingram. The Giving Gala benefits TREC’s community impact initiatives in four key focus areas: balanced housing, education, economic development and sustainability. Tickets start at $350, and sponsorships are available by contacting Debby Hanson at debby@recouncil.com or 214.692.3600.

In addition to Presenting Sponsors Deloitte and Republic Title, other sponsors include Limelight Sponsor: Holt Lunsford Commercial; Spotlight Sponsors: Crow Holdings, Corgan, CMC Commercial Realty Group; Ernst & Young; Thackaray Partners; Jackson-Shaw; Winstead Attorneys, Comerica and Zom Living.

About TREC:

Founded in 1990, The Real Estate Council (TREC) is a dynamic organization of 1,600 commercial real estate professionals representing more than 500 companies in the Dallas area. TREC pursues industry advocacy efforts on local and statewide public policy issues and works to improve the quality of life in Dallas with community impact initiatives that address balanced housing, education, economic development and sustainability. Since 1990 TREC’s investments in the community have totaled $75 million in pro bono professional expertise and added asset value supported by $7 million in cash. TREC is a leader of efforts shaping the future of Dallas including the original $1.5 million investment that spearheaded Woodall Rodgers Park, as well as $6.3 million in pro bono legal and title services and $250,000 in funding that helped create Dallas’ Urban Land Bank. Find out more at www.recouncil.com or by calling 214.692.3600.

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3110 Cornell Avenue

Well if you could not make it into an Ivy the first time around, here is your big chance!  This beautiful four bedroom Highland Park home, to be shown this Sunday, September 13th, by Ebby Halliday is the perfect place for a young family to plan to grow old in.  This traditional brick house sits on (what seems like) about five acres of beautiful landscaping… I lied. Really lot is typical PC 50 by 150. You can practically see your collie running through the lawn as your son or daughter (or perhaps even you) is twisting around in a tire swing hanging from a tree in the front yard.  I may have watched one too many Lassie reruns, but I think you get the picture!

2817 Park Bridge Court

Here is something for the modernists in the group. I absolutely love this contemporary 3 bed 3.1 bath home.  Though an elevator and hot tub may seem excessive , for only $2,999,999 such luxuries plus the beautiful view of Turtle Creek are more than worth it. I have to admit that I have a soft spot in my heart for this home because before moving into a very traditional brick home, my family lived in an ultra modern house.  Furthermore, it is a reminder that modern homes can be just as cozy as traditional homes. This is a must see so head over to Park Bridge Court on Sunday between 2:00 and 4:00 for Allie Beth Allman’s open house.

8707 Canyon Drive

I could not help myself! As much of a traditionalist as I have revealed myself to be, I absolutely love modern homes.  This one particularly tickled my fancy because of the natural element created by the simplistic landscaping,  the use of stone, steel, and wood.  In addition, the extensive use of glass begs natural light to come in and fill in the large open spaces.  Even more exciting is the way the well known modern architect, Frank Welch, took advantage of the outdoor living space as beautifully as the indoor space, complete with a stone patio, fireplace, and skylights.  This sleek four bedroom going for $1,979,000 will be available for viewing this Sunday between 1:00 and 3:00 by Briggs Freeman. This is definitely one to check out! Even if you do not like modern homes, I urge you to put your preconceived notions aside and give this one a chance. It will change your mind forever!