“During the worst recession since the Depression, Washburne had the tenacity to seek out financing so his family could buy Highland Park Village for a hefty $170 million. The Wall Street Journal said no single U.S. retail property had sold for more this year, and the price per square foot of $680 may be the most paid for Dallas area retail this decade, or maybe ever.”

Of course, recessions are when smart investors pick up property for (hopefully) pennies on the dollar. HPV was not a fire sale, but Washburne was undaunted in his hunt for financing. He’s already making changes. The Regent Theatres’ lease has ended, but Washburne says it will re-open in the spring after a major remodel that will include dining. My guess is that the plans will include a very family-friendly, Studio Movie Grill-type idea to continue what Washburne called a “Beaver Cleaver” existence he enjoyed as a child in the Park Cities. The article also details how he worked his way through SMU, acquired rental properties and started a dorm “Ray The Carpet Man” carpet company while an undergraduate at SMU. The story of his college and pre-college entrepreneurship brought to mind another biz magnate from the 1970’s who went on to change life as we know it: Bill Gates.

This is a comment from a reader that was going to get buried. He/she already lives in a condo and is considering a move to “21″ — what can we tell them:

 ”I am a long time condo owner in another HOA but an considering moving to 21 Turtle Creek. Is it really bad? I am president of our Board and we try to treat owners courteously. We are very hands-on in our property management so we don’t go into debt but still maintain our property. Does 21 have frequent dues increases and assessments? We have had only 1 assessment and 5 dues increases in 26 years. Also, propably because we are not a high rise but are built around a courtyard, owners are friendly but not in your business. And, if you don’t want to valet park, can’t you just go in the garage and park yourself. Does everyone have to know all your comings and goings and who visits you and when? Thanks for any input.”

 

At a private celebratory party last night, Ray Washburne was crowned the King of Highland Park Village at his Mi Cocina’s, the second floor so crowded a June Bug couldn’t fit in. HPV passes from one illustriou$ family to another. Breathe a sigh of relief: Ray Washburne tells the DMN that HPV is in good hands with its new owners, all locals who care deeply about the historical shopping center. Vince is coming — no word on rumors that Apple and Lela Rose or other new vendors will be nipping close behind. Stay tuned.

Update: Heard it took all day Friday and Saturday and more equity.

Since the stadium was designed, a lot has changed. The corporate world is in shambles and corporate hospitality at this point is non-existent. And while the Cowboys say that 273 of the 300 suites are booked, don’t think “America’s Team” won’t go through America’s troubles. Trust me, some of those leases that are signed through 2029 won’t even stand the test of 2009.

Rovell’s advice is to convert some of the boxes into a much larger suite where corporations can by individual tickets instead of paying for an entire box.

Update: Yes, we have a brand new sports blog that is terrific — and here’s the link to it. Hi Evan, Hi Jeff, I was with Deion Sanders tonight!!!

Update 2: That update was from Candy. Sorry for the confusion. Hi Candy. You think Prime Time would give us a tour of his palatial Prosper mansion?