Author Archive
The Dallas Design District has been much buzzed about in the local press. Now people around the nation are taking notice. In its Sunday edition, the New York times named the Dallas Design District as Dallas’ new “it” district. PegasusAblon principal Mike Ablon is quoted in the article, which appears on both NYTimes.com as well as Texas Monthly’s website. Read the full articles by clicking the links below:
PegasusAblon was recently featured in the Dallas Business Journal and Dallas Morning News, announcing The Ablon at Frisco Bridges, a new multifamily development in Frisco, Texas.
Read more by accessing the articles online or viewing The Ablon at Frisco Bridges project page.
- Hunt, PegasusAblon partner on Frisco apartment project, Dallas Business Journal
- Two developers plan Frisco apartments, Dallas Morning News (Download as PDF)
Mike Ablon’s latest guest post on D Magazine’s Real Points blog playfully ponders The Existence, Relevance, and Excellence of Social Media in Real Estate.
See what PegasusAblon has been doing in the social media realm by visiting our blog about life in the Dallas Design District, LowerOakLawn.com.
For the second year in a row, the Dallas Business Journal has recognized PegasusAblon as a top tier winner in their annual Best Places to Work competition. This year, PegasusAblon took second place in the small business category, achieving the award based on the results of a survey which polled all employees on topics such as work environment, people practices, innovations/new ideas, leadership in the organization and employee recognition.
“People want to be respected, trusted, appreciated and have stability and a sense of both individual and collective destiny. Top talent doesn’t just want this; true top talent demands it both for themselves and for those on their team,” PegasusAblon principal Mike Ablon says. “I believe that if you get this right, everything else generally works.”
Read PegasusAblon’s Best Places to Work write-up on the DBJ website or download a PDF of the article.
The Echo Boomers are addicted to ever-evolving technology that changes every two years, and often even more frequently. So how do you develop space targeted toward this generation when your project must stand for 30 years?
Mike Ablon tackles this question in his latest contribution to the D Magazine Real Points Blog: The iPhone, the iPad, and the I-Beam.
It is commonly said that when in a transaction is in process, many people tend to over-complicate the real issues. And it is just as frequently said people tend to overlook complexities by oversimplifying critical items.
So which is it?
Get answers in Mike Ablon’s recent post on D Magazine’s Real Points blog: The Simple Paradox of Complex Transactions.
The bet is on as to what will be built in the next cycle and PegasusAblon Principal Michael Ablon is sharing his predictions on the newly launched D Magazine real estate blog, RealPoints.
Read the full post at DMagazine.com: What Will Be Built in the Next Cycle?
Last Thursday PegasusAblon’s Lower Oak Lawn in the Dallas Design District project was named Public-Private deal of the year winner at the Dallas Business Journal’s 2011 Best Real Estate Deals dinner.
The master plan by PegasusAblon and their investment partner, The Lionstone Group, for the approximately 40-acre area, includes development of more than 1,300 apartments, 800,000 square feet of showroom and gallery space, a new public park, upgraded road systems, restaurants and a future boutique hotel.
PegasusAblon partnered with the City of Dallas through new a TIF district to support infrastructure and aesthetic improvements in the Dallas Design District. PegasusAblon committed $6 million of private capital to upgrading public infrastructure to support development and to improve the streetscape of the area. A major focus included reestablishing the street grid, and creating a new, central heart to the Design District. Lush landscaping, impressive public art from local sculptors, improved lighting, a new amphitheater, prominent entry features and other community-centered attributes give the neighborhood new personality and style.
The successful revitalization of the Dallas Design District required the coordination of many strategic partnerships between both public and private stakeholders. The project involved coordination between multiple jurisdictional entities, the newly formed Oak Lawn-Hi Line PID, two non-profit groups as well as 30 separate property ownerships and four private developers.
To accomplish the integrated master plan, seven different professional design and consulting groups were integrated into the development team to accomplish the highest quality work in each of the respective disciplines, including Good Fulton Farrell, TBG Partners, HKS Architects, and others.
This project required constant coordination and communication with such entities and individuals as:
- City of Dallas (including the assistance of Karl Stundins and Karl Zavitkovsky)
- Oak Lawn-Hi Line PID
- Dallas Design District TIF Board #621
- Dallas County
- North Texas Council of Governments
- State of Texas
- Texas Department of Transportation
- Trinity Strand Trail (including assistance of Mike Kutner)
- Katy Trail
- More than 30 separate property plats and four different private developers, all in an evolving 3-year coordination.
Tax records show that the from the base tax year of 2005 through 2009, the assessed taxable value of property in the Dallas Design District TIF had grown 88.4 percent to more than $267 million.
PegasusAblon’s goal was to breathe new life into a historic area and to raise the sea level of the entire neighborhood, not just its properties. PegasusAblon has effectively preserved and enhanced a precious piece of Dallas history, and simultaneously created an economically viable region ripe for future growth.
PM Realty Group’s recent ground breaking on 1400 Hi Line, a 23-story, mixed-use project, has further proved the Dallas Design District’s status as an emerging multi-family development hotspot. In a recent article from GlobeSt.com, Will Balthrope, a senior director with the Balthrope Group of Institutional Property Advisors, a Marcus & Millichap Co. was quoted saying:
“Of all the submarkets in Dallas to invest in, many institutional apartment investors believe the Dallas Design District has the most upside for potential rent growth in the future. It is truly an up-and-coming, urban infill location.”
Read the rest of the article, Design District Emerges as MF Development Hotspot, at GlobeSt.com.
This May, the first of three planned restaurants in PegasusAblon’s Lower Oak Lawn development opened for business. The Meddlesome Moth, a new concept by veteran Dallas restaurateur Shannon Wynne and partner Keith Schlabs, has been hailed a true gastro-pub by the Dallas Morning News. Their exotic menu, crafted by Chef Chad Kelly, and extensive beer selection have received critical acclaim, and the restaurant has been named in D Magazine’s December 2010 issue as one of the Best New Restaurants in Dallas.
The Moth’s new home, located at the corner of Oak Lawn Avenue and Hi Line Drive, was formerly an Ann Sacks tile showroom. (And the PegasusAblon Marketing Center!) The restaurant has added a new dimension of vibrancy and nightlife to the Dallas Design District neighborhood.
For more of the latest info on upcoming beer tastings, rare cask tappings and other happenings at The Moth, visit our blog, LowerOakLawn.com. To view a menu and more pictures, check out the Moth’s website, MothinThe.Net.
The Meddlesome Moth // 1621 Oak Lawn Avenue // 214.628.7900
Photo Courtesy of: TheBradsBlog.com
